RCW 39.102.195
Limitation on use of revenues. (Expires June 30, 2044.)
To the extent that amounts received as local excise tax allocation revenues, local property tax allocation revenues, other revenues from local public sources, that are dedicated to local infrastructure financing, and revenues received from the local option sales and use tax authorized in RCW 82.14.475, are set aside in a debt service fund that is pledged to the repayment of bonds, those amounts so set aside and pledged may not be used to pay for public improvement costs on a pay-as-you-go basis after the date that the sponsoring local government that issued the bonds as provided in RCW 39.102.150 is required to begin paying debt service on those bonds, unless and until those bonds to which the amounts have been so pledged have been retired.
[ 2009 c 267 § 7; 2007 c 229 § 14.]
NOTES:
Application—Severability—2007 c 229: See notes following RCW 39.102.020.
Structure Revised Code of Washington
Title 39 - Public Contracts and Indebtedness
Chapter 39.102 - Local Infrastructure Financing Tool Program.
39.102.040 - Application process—Board approval.
39.102.050 - Demonstration projects.
39.102.060 - Limitations on revenue development areas.
39.102.070 - Local infrastructure financing—Conditions.
39.102.080 - Revenue development area adoption—Process.
39.102.090 - Revenue development area adoption—Ordinance—Hearing and delivery requirements.
39.102.100 - Revenue development area adoption—Notice requirements.
39.102.110 - Local excise tax allocation revenues.
39.102.120 - Local property tax allocation revenues.
39.102.130 - Use of sales and use tax funds.
39.102.140 - Reporting requirements.
39.102.150 - Issuance of general obligation bonds.
39.102.160 - Use of tax revenue for bond repayment.
39.102.170 - Limitation on bonds issued.
39.102.190 - Revenue bonds to fund public improvements.
39.102.195 - Limitation on use of revenues.
39.102.200 - Joint legislative audit and review committee reports.
39.102.210 - Program evaluation.
39.102.220 - Administration by department and board.
39.102.902 - Construction—2006 c 181.