RCW 32.20.470
Improvement of private land for public parks and recreation areas.
Subject to the limits hereinafter set forth, a mutual savings bank may expend its funds for the improvement for public use of privately owned land as parks or recreation areas, including but not limited to "vest pocket" parks, provided that the owner of such land will:
(1) Permit public use thereof for a period of at least eighteen months or for such longer period and subject to such other requirements as the bank may impose; and
(2) At or before the end of public use, permit the removal of all such improvements which in the bank's judgment reasonably may be accomplished.
As used in this section, "public use" means use without regard to race, creed, sex, color, or national origin. The amount expended hereunder and under RCW 32.12.070(2)(d) in any calendar year shall not exceed one-half of one percent of the net earnings of bank for the preceding year.
[ 1973 1st ex.s. c 31 § 3.]
NOTES:
Construction—1973 1st ex.s. c 31: See RCW 32.20.500.
Structure Revised Code of Washington
Title 32 - Washington Savings Bank Act
32.20.020 - Power to invest funds—Restrictions.
32.20.030 - Bonds or obligations of United States and Canada.
32.20.035 - Investment trusts or companies.
32.20.040 - Federally insured or secured loans, securities, etc.
32.20.045 - Obligations of corporations created as federal agency or instrumentality.
32.20.047 - Stock of small business investment companies regulated by United States.
32.20.050 - Bonds of state of Washington and its agencies.
32.20.060 - Bonds of other states.
32.20.070 - Bonds and warrants of counties, municipalities, etc., of Washington.
32.20.080 - Municipal bonds in adjoining state.
32.20.090 - Housing and industrial development bonds and municipal obligations in any state.
32.20.100 - Revenue bonds of certain cities in any state.
32.20.110 - District bonds secured by taxing power.
32.20.120 - Local improvement district bonds.
32.20.130 - Bonds of irrigation, diking, drainage districts.
32.20.210 - Obligations of International Bank for Reconstruction and Development.
32.20.215 - Obligations issued or guaranteed by Inter-American Development Bank.
32.20.217 - Obligations of Asian Development Bank.
32.20.220 - Bankers' acceptances, bills of exchange, and commercial paper.
32.20.230 - Notes secured by investments.
32.20.240 - Notes secured by pledge or assignment of account.
32.20.253 - Loans secured by real estate, mobile homes, movable buildings.
32.20.265 - Valuation of property to be mortgaged—Appraiser's opinion.
32.20.280 - Investments in real estate.
32.20.285 - Investments through purchase of real estate—Improvements.
32.20.300 - Home loan bank as depositary.
32.20.310 - Deposit of securities.
32.20.320 - Investment of funds.
32.20.330 - Investments—Loans, preferred stock, or interest-bearing obligations—Restrictions.
32.20.335 - Investments—Qualified thrift investments.
32.20.340 - Stock or bonds of federal home loan bank.
32.20.350 - Stock of federal reserve bank or Federal Deposit Insurance Corporation.
32.20.370 - Corporate bonds and other interest-bearing or discounted obligations.
32.20.380 - Stocks, securities, of corporations not otherwise eligible for investment.
32.20.410 - Limitation of total investment in certain obligations.
32.20.415 - Limitation on certain secured and unsecured loans.
32.20.430 - Loans to banks or trust companies.
32.20.440 - Purchase of United States securities from banks or trust companies.
32.20.445 - Stock, other securities, and obligations of federally insured institutions.
32.20.450 - Low-cost housing—Legislative finding.
32.20.460 - Low-cost housing—Factory built housing—Mobile homes.
32.20.470 - Improvement of private land for public parks and recreation areas.