RCW 35.55.150
Local improvement fund—Investment.
If money accumulates in an improvement fund and is likely to lie idle awaiting the maturity of the bonds against the district, the city council, under proper safeguards, may invest it temporarily, or may borrow it temporarily, at a reasonable rate of interest, but when so invested or borrowed, the city shall be responsible and liable for the restoration to such fund of the money so invested or borrowed with interest thereon, whenever required for the redemption of bonds maturing against such district.
[ 1965 c 7 § 35.55.150. Prior: 1909 c 147 § 15; RRS § 9446.]
Structure Revised Code of Washington
Chapter 35.55 - Local Improvements—Filling Lowlands.
35.55.010 - Authority—Second-class cities.
35.55.020 - Alternative methods of financing.
35.55.030 - Boundaries—Excepted property.
35.55.040 - Damages—Eminent domain.
35.55.050 - Estimates—Plans and specifications.
35.55.060 - Assessment roll—Items—Assessment units—Installments.
35.55.070 - Hearing on assessment roll—Notice—Council's authority.
35.55.080 - Hearings—Appellate review.
35.55.090 - Lien—Collection of assessments.
35.55.100 - Interest on assessments.
35.55.110 - Payment of cost of improvement—Interest on warrants.
35.55.120 - Local improvement bonds—Terms.
35.55.130 - Local improvement bonds—Guaranties.
35.55.140 - Local improvement bonds and warrants—Sale to pay damages, preliminary financing.
35.55.150 - Local improvement fund—Investment.
35.55.160 - Letting contract for improvement—Excess or deficiency of fund.