RCW 35.54.090
Warrants against fund.
Warrants drawing interest at a rate established by the issuing officer under the direction of the legislative authority of the city or town shall be issued against the local improvement guaranty fund to meet any liability accruing against it. The warrants so issued shall at no time exceed five percent of the outstanding obligations guaranteed by the fund.
[ 1981 c 323 § 8; 1965 c 7 § 35.54.090. Prior: 1933 c 109 § 1, part; 1927 c 209 § 3, part; 1925 ex.s. c 183 § 3, part; 1923 c 141 § 3, part; RRS § 9351-3, part.]
Structure Revised Code of Washington
Chapter 35.54 - Local Improvements—Guaranty Funds.
35.54.020 - Rules and regulations.
35.54.030 - Source—Interest and earnings.
35.54.040 - Source—Subrogation rights to assessments.
35.54.050 - Source—Surplus from improvement funds.
35.54.070 - Use of fund—Purchase of bonds, coupons and warrants.
35.54.090 - Warrants against fund.
35.54.900 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.