RCW 35.45.040
Bonds—Sale of.
(1) Local improvement bonds may be issued to the contractor or sold by the officers authorized by the ordinance directing their issue to do so, in the manner prescribed therein at the price established by the legislative authority of the city or town. Any portion of the bonds of any issue remaining unsold may be issued to the contractor constructing the improvement in payment thereof.
The proceeds of all sales of bonds shall be applied in payment of the cost and expense of the improvement.
(2) Notwithstanding subsection (1) of this section, such bonds may be sold in accordance with chapter 39.46 RCW.
[ 1983 c 167 § 42; 1981 c 323 § 2; 1965 c 7 § 35.45.040. Prior: (i) 1911 c 98 § 46, part; 1899 c 124 § 1; RRS § 9399, part. (ii) 1911 c 98 § 48; 1899 c 124 § 3; RRS § 9401.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
Structure Revised Code of Washington
Chapter 35.45 - Local Improvements—Bonds and Warrants.
35.45.010 - Authority to issue bonds.
35.45.020 - Bond issue—Due date—Interest.
35.45.030 - Bonds—Form—Content.
35.45.060 - Interest on bonds—How payable.
35.45.065 - Interest on bonds—Payment from general revenues—Authority—Procedure.
35.45.070 - Nonliability of city or town.
35.45.080 - Remedy of bondholders.
35.45.090 - Excess to be refunded—Demand—Right of action.
35.45.130 - Warrants against local improvement fund authorized.
35.45.140 - Warrants acceptable in payment of assessments.
35.45.150 - Installment notes—Interest certificates.
35.45.155 - Installment notes—Refunding.
35.45.160 - Consolidated local improvement districts—Authorized—Purpose.
35.45.170 - Refunding bonds—Limitations.
35.45.180 - Transfer from general fund to local improvement fund authorized—Ordinance.