RCW 39.42.130
Aggregate state debt not to exceed debt limitation—State finance committee duties.
(1) The state shall not contract any bonds, notes, or other evidences of indebtedness for borrowed money that would cause the aggregate state debt to exceed the debt limitation, as specified in Article VIII, section 1(b) of the state Constitution.
(2) It shall be the duty of the state finance committee to compute annually the amount required to pay principal of and interest on outstanding debt.
(3) To the extent necessary because of the state constitutional debt limitation, priorities with respect to the issuance or guaranteeing of bonds, notes, or other evidences of indebtedness by the state shall be determined by the state finance committee.
[ 2009 c 500 § 2.]
NOTES:
Effective date—2009 c 500: See note following RCW 39.42.070.
Structure Revised Code of Washington
Title 39 - Public Contracts and Indebtedness
Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness.
39.42.010 - Scope of application.
39.42.020 - Evidences of indebtedness—Issuance—Signature.
39.42.030 - Evidences of indebtedness—Issuance—State finance committee, duties and powers.
39.42.040 - Disposition of proceeds from sale of bonds.
39.42.050 - Anticipation notes—Issued, when—Payment of principal and interest.
39.42.070 - Computation of general state revenues—Filing of certificate—Estimate of debt capacity.
39.42.080 - Obligations allowable under debt limitation.
39.42.090 - Certificates of indebtedness—Issued, when—Retirement.
39.42.120 - Excess earnings account—Payments to United States treasury.
39.42.130 - Aggregate state debt not to exceed debt limitation—State finance committee duties.