RCW 35.42.210
Exercise of option to purchase.
If at the time an option to purchase is exercised the remaining amount to be paid in order to purchase the real or personal property leased after crediting the rental payments toward the total purchase price therefor does not result in a total indebtedness in excess of one and one-half percent of the taxable property of such city or town computed in accordance with RCW 39.36.030, such a city or town may exercise its option to purchase such property. If such remaining amount to be paid to purchase such leased property will result in a total indebtedness in excess of one and one-half percent of the taxable property of such city or town, a proposition in regard to whether or not to purchase the property shall be submitted to the voters for approval or rejection in the same manner that bond issues for capital purposes are submitted to the voters.
[ 1965 c 7 § 35.42.210. Prior: 1963 c 170 § 2.]
Structure Revised Code of Washington
35.42.030 - Authority to lease.
35.42.040 - Renewals—Option to purchase.
35.42.050 - Provisions to pay taxes, insurance, make repairs, improvements, etc.
35.42.070 - Lease of city land for building purposes and lease back of building by city.
35.42.080 - Lease of city land for building purposes and lease back of building by city—Bids.
35.42.090 - Leases exempted from certain taxes.
35.42.200 - Leases authorized—Ballot proposition.