Title 39 — Title 39 PUBLIC CONTRACTS AND INDEBTEDNESS
56 chapters · 633 sections in this title.
RCW 39.94.030 Authority to enter into financing contracts—Terms—Intent—Obligation of state revenues.
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(1) The state may enter into financing contracts for itself or on behalf of an other agency for the use and acquisition for public purposes of real and personal property. Payments under financing contracts of the state shall be made by the state from currently appropriated funds …
RCW 39.94.040 State finance committee—Duties—Legislative approval required, when.
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(1) Except as provided in RCW 28B.10.022, the state may not enter into any financing contract for itself if the aggregate principal amount payable thereunder is greater than an amount to be established from time to time by the state finance committee or participate in a program p…
RCW 39.94.050 Financing program to be self-supporting—Payment of program expenses.
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(1) It is the intent of the legislature that the financing program authorized by this chapter be self-supporting.(2) The state treasurer is authorized to levy fees and apply specified investment earnings from time to time in amounts not to exceed sums sufficient to pay program ex…
RCW 39.94.900 Application.
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The provisions of this chapter shall apply to all financing contracts entered into following July 23, 1989.[ 1989 c 356 s 5.]
RCW 39.96.010 Findings and declaration.
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The legislature finds and declares that the issuance by state and local governments of bonds and other obligations involves exposure to changes in interest rates; that a number of financial instruments are available to lower the net cost of these borrowings, or to reduce the expo…
RCW 39.96.020 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Financial advisor" means a financial services or financial advisory firm:(a) With recognized knowledge and experience in connection with the negotiation and execution …
RCW 39.96.030 Payment agreements authorized—Conditions.
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(1) Subject to subsections (2) and (3) of this section, any governmental entity may enter into a payment agreement in connection with, or incidental to, the issuance, incurring, or carrying of specific obligations, for the purpose of managing or reducing the governmental entity's…
RCW 39.96.040 Terms and conditions.
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(1) Subject to subsections (2), (3), and (4) of this section, payment agreements entered into by any governmental entity may include those payment, term, security, default, remedy, termination, and other terms and conditions, and may be with those parties, as the governmental ent…
RCW 39.96.050 Payments—Credit enhancements.
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(1) Subject to any covenants or agreements applicable to the obligations issued or incurred by the governmental entity, any payments required to be made by the governmental entity under a payment agreement entered into in connection with the issuance, incurring, or carrying of th…
RCW 39.96.060 Calculations regarding payment of obligations—Status of payments.
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(1) Subject to any covenants or agreements applicable to the obligations issued or incurred by the governmental entity, if the governmental entity enters into a payment agreement with respect to those obligations, then it may elect to treat the amounts payable from time to time w…
RCW 39.96.080 Authority cumulative.
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The powers conferred by this chapter are in addition to, and not in substitution for, the powers conferred by any existing law, and the limitations imposed by this chapter do not directly or indirectly modify, limit, or affect the powers conferred by any existing law.[ 1993 c 273…
RCW 39.96.900 Liberal construction—1993 c 273.
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This chapter shall be liberally construed to effect its purposes.[ 1993 c 273 s 9.]
RCW 39.96.903 Effective date—1993 c 273.
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This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately [May 7, 1993].[ 1993 c 273 s 13.]
RCW 39.98.010 Finding—School district debt obligation not removed.
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The legislature finds that implementation of the credit enhancement program provided for in this chapter can provide substantial savings to the taxpayers of the state of Washington with minimal cost or risk to the state government. The guaranty provided by pledging the credit of …
RCW 39.98.020 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Bond" means any voted general obligation bond issued by a school district, holding a certificate issued pursuant to this chapter for such a bond.(2) "Credit enhancemen…
RCW 39.98.030 Bonds guaranteed by full faith, credit, and taxing power of the state—Reference to chapter on face of bond conclusively establishes guaranty.
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(1)(a) The full faith, credit, and taxing power of the state is pledged to guarantee full and timely payment of the principal of and interest on bonds as such payments become due. However, in the event of any acceleration of the due date of the principal by reason of mandatory re…
RCW 39.98.040 Certificate issued by state treasurer evidence of guaranty—Limitations on issuance of guaranteed bonds—Fees.
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(1)(a) Any district, by resolution of its board of directors, may request that the state treasurer issue a certificate evidencing the state's guaranty, under this chapter, of its bonds.(b) After reviewing the request, if the state treasurer determines that the district is eligibl…
RCW 39.98.050 Debt service payments—Notifications upon nonpayment—Payments by state treasurer—Repayment.
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(1)(a) The county treasurer for each district with outstanding, unpaid bonds shall transfer money sufficient for each scheduled debt service payment to its paying agent on or before any principal or interest payment date for the bonds.(b) A county treasurer who is unable to trans…
RCW 39.98.060 Reimbursement of state-paid debt service payments—Interest and penalties—Legal actions—Revision of collection of taxes to meet obligations.
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(1) Any district that has issued bonds for which the state has made all or part of a debt service payment shall:(a) Reimburse all money drawn by the state treasurer on its behalf;(b) Pay interest to the state on all money paid by the state from the date that money was drawn to th…
RCW 39.98.070 Appropriation required.
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In order to effect the provisions of Article VIII, section 1(e) of the state Constitution, Senate Joint Resolution No. 8206, the legislature shall make provision for such amounts as may be required to make timely payments under the state school district credit enhancement program…
RCW 39.98.080 Adoption of rules.
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The state finance committee may adopt, under chapter 34.05 RCW, all rules necessary and appropriate for the implementation and administration of this chapter.[ 1999 c 273 s 8.]
RCW 39.98.900 Contingent effective date—1999 c 273.
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This act takes effect January 1, 2000, if the proposed amendment to Article VIII, section 1 of the state Constitution, guaranteeing the general obligation debt of school districts, is validly submitted to and is approved and ratified by the voters at the next general election. If…
RCW 39.100.010 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Benefit zone" means the geographic zone from which taxes are to be appropriated to finance public improvements authorized under this chapter and in which a hospital th…
RCW 39.100.020 Conditions for financing public improvements.
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A local government may finance public improvements using hospital benefit zone financing subject to the following conditions:(1)(a) The local government adopts an ordinance designating a benefit zone within its boundaries and specifying the public improvements proposed to be fina…
RCW 39.100.030 Benefit zone creation—Agreement, hearing, and notice requirements—Ordinance requirements.
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(1) Before adopting an ordinance creating the benefit zone, a local government must:(a) Obtain written agreement for the use of hospital benefit zone financing to finance all or a portion of the costs of the designated public improvements from any taxing authority that imposes a …
RCW 39.100.040 Benefit zone ordinance, publicizing and delivery—Challenges to benefit zone formation.
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(1) A local government that adopts an ordinance creating a benefit zone under this chapter shall, within ninety days of adopting the ordinance:(a) Publish notice in a legal newspaper of general circulation within the benefit zone that describes the public improvement, describes t…
RCW 39.100.050 Use of excess local excise tax—Boundary information—Definitions.
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(1) A local government that creates a benefit zone and has received approval from the department under RCW 82.32.700 to impose the local option sales and use tax authorized in RCW 82.14.465 may use annually any excess local excise taxes received by it from taxable activity within…
RCW 39.100.060 Issuance of revenue bonds.
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(1) A local government may issue revenue bonds to fund public improvements, or portions of public improvements, that are located within a benefit zone and that it is authorized to provide or operate. Whenever revenue bonds are to be issued, the legislative authority of the local …
RCW 39.100.900 Effective date—2006 c 111.
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This act takes effect July 1, 2006.[ 2006 c 111 s 11.]
RCW 39.102.010 Finding.
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The legislature recognizes that the state as a whole benefits from investment in public infrastructure because it promotes community and economic development. Public investment stimulates business activity and helps create jobs; stimulates the redevelopment of brownfields and bli…
RCW 39.102.020 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Annual state contribution limit" means seven million five hundred thousand dollars statewide per fiscal year.(2) "Assessed value" means the valuation of taxable real p…
RCW 39.102.030 Creation.
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The local infrastructure financing tool program is created to assist local governments in financing authorized public infrastructure projects designed to promote economic development in the jurisdiction. The local infrastructure financing tool program is not created to enable exi…
RCW 39.102.040 Application process—Board approval.
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(1) Prior to applying to the board to use local infrastructure financing, a sponsoring local government shall:(a) Designate a revenue development area within the limitations in RCW 39.102.060;(b) Certify that the conditions in RCW 39.102.070 are met;(c) Complete the process in RC…
RCW 39.102.050 Demonstration projects.
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(1) In addition to a competitive process, demonstration projects are provided to determine the feasibility of the local infrastructure financing tool. Notwithstanding RCW 39.102.040, the board shall approve each demonstration project. Demonstration project applications must be re…
RCW 39.102.060 Limitations on revenue development areas.
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The designation of a revenue development area is subject to the following limitations:(1) The taxable real property within the revenue development area boundaries may not exceed one billion dollars in assessed value at the time the revenue development area is designated;(2) The a…
RCW 39.102.070 Local infrastructure financing—Conditions.
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The use of local infrastructure financing under this chapter is subject to the following conditions:(1) No funds may be used to finance, design, acquire, construct, equip, operate, maintain, remodel, repair, or reequip public facilities funded with taxes collected under RCW 82.14…
RCW 39.102.080 Revenue development area adoption—Process.
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Before adopting an ordinance creating the revenue development area, a sponsoring local government must:(1) Obtain written agreement from any participating local government and participating taxing district to use dedicated amounts of local excise tax allocation revenues, local pr…
RCW 39.102.090 Revenue development area adoption—Ordinance—Hearing and delivery requirements.
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(1) To adopt a revenue development area, a sponsoring local government, and any cosponsoring local government, must adopt an ordinance establishing the revenue development area that:(a) Describes the public improvements proposed to be made in the revenue development area;(b) Desc…
RCW 39.102.100 Revenue development area adoption—Notice requirements.
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Prior to adopting the ordinance creating the revenue development area and to meet the requirements of *RCW 39.102.150(1)(b), a sponsoring local government and any cosponsoring local government must provide public notice.(1) Notice of the public hearing must be published in a lega…
RCW 39.102.110 Local excise tax allocation revenues.
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(1) A sponsoring local government or participating local government that has received approval by the board to use local infrastructure financing may use annually its local excise tax allocation revenues to finance public improvements in the revenue development area financed in w…
RCW 39.102.120 Local property tax allocation revenues.
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(1) Commencing in the second calendar year following board approval of a revenue development area, the county treasurer shall distribute receipts from regular taxes imposed on real property located in the revenue development area as follows:(a) Each participating taxing district …
RCW 39.102.130 Use of sales and use tax funds.
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Money collected from the taxes imposed under RCW 82.14.475 may be used only for the purpose of paying debt service on bonds issued under the authority of RCW 39.102.150 or to pay public improvement costs on a pay-as-you-go basis as provided in RCW 39.102.195, or both.[ 2007 c 229…
RCW 39.102.140 Reporting requirements.
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(1) A sponsoring local government shall provide a report to the board and the department by March 1st of each year. The report shall contain the following information:(a) The amount of local excise tax allocation revenues, local property tax allocation revenues, other revenues fr…
RCW 39.102.150 Issuance of general obligation bonds.
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(1) A sponsoring local government that has designated a revenue development area and instead of paying public improvement costs on a pay-as-you-go basis has been authorized the use of local infrastructure financing may incur general indebtedness, including issuing general obligat…
RCW 39.102.160 Use of tax revenue for bond repayment.
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A sponsoring local government that issues bonds under RCW 39.102.150 to finance public improvements may pledge for the payment of such bonds all or part of any local excise tax allocation revenues and all or part of any local property tax allocation revenues dedicated by the spon…
RCW 39.102.170 Limitation on bonds issued.
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The bonds issued by a sponsoring local government under RCW 39.102.150 to finance public improvements shall not constitute an obligation of the state of Washington, either general or special.[ 2006 c 181 s 503.]
RCW 39.102.190 Revenue bonds to fund public improvements.
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(1) A sponsoring local government may issue revenue bonds to fund revenue-generating public improvements, or portions of public improvements, that are located within a revenue development area. Whenever revenue bonds are to be issued, the legislative authority of the sponsoring l…
RCW 39.102.195 Limitation on use of revenues.
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To the extent that amounts received as local excise tax allocation revenues, local property tax allocation revenues, other revenues from local public sources, that are dedicated to local infrastructure financing, and revenues received from the local option sales and use tax autho…
RCW 39.102.200 Joint legislative audit and review committee reports.
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Beginning September 1, 2013, and continuing every five years thereafter, the joint legislative audit and review committee shall submit a report to the appropriate committees of the legislature.(1) The report shall, at a minimum, evaluate the effectiveness of the local infrastruct…
RCW 39.102.210 Program evaluation.
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The department of revenue and the community economic revitalization board shall evaluate and periodically report on the implementation of the local infrastructure financing [tool] program to the governor and legislature as the department and the board deems appropriate and recomm…