RCW 47.10.883
Statement of general obligation—Pledge of toll revenue and excise taxes.
Bonds issued under the authority of this section and RCW 47.10.879, 47.10.884, and 47.10.885 must distinctly state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and must contain an unconditional promise to pay such principal and interest as the same becomes due. The principal of and interest on the bonds must be first payable in the manner provided in this section and RCW 47.10.879, 47.10.884, and 47.10.885 from toll revenue and then from proceeds of excise taxes on motor vehicle and special fuels and vehicle-related fees to the extent toll revenue is not available for that purpose. Toll revenue and the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of this section and RCW 47.10.879, 47.10.884, and 47.10.885, and the legislature agrees to continue to impose these toll charges on the state route number 520 corridor, and on any other eligible toll facility designated by the legislature and on which the imposition of tolls is authorized by the legislature in respect of the bonds, and excise taxes on motor vehicle and special fuels and vehicle-related fees in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of this section and RCW 47.10.879, 47.10.884, and 47.10.885.
[ 2022 c 103 § 3; 2013 c 225 § 628; 2009 c 498 § 12.]
NOTES:
Applicability—2022 c 103: "The amendments made in sections 3 through 32 of this act to any highway bond act shall apply only to the highway bonds that have been authorized to be issued but that have not yet been issued and are not outstanding on June 9, 2022, and are issued after June 9, 2022." [ 2022 c 103 § 33.]
Intent—2022 c 103: See note following RCW 47.10.908.
Effective date—2013 c 225: See note following RCW 82.38.010.
Structure Revised Code of Washington
Title 47 - Public Highways and Transportation
Chapter 47.10 - Highway Construction Bonds.
47.10.790 - Issuance and sale of general obligation bonds—State route 90 improvements.
47.10.791 - Administration and amount of bond sales.
47.10.792 - Bond proceeds—Deposit and use.
47.10.793 - Statement of general obligation—Pledge of excise taxes.
47.10.794 - Designation of funds to repay bonds and interest.
47.10.795 - Repayment procedure—Bond retirement fund.
47.10.796 - Sums in excess of retirement requirements—Use.
47.10.797 - Bonds legal investment for state funds.
47.10.798 - Bonds equal charge against fuel tax revenues.
47.10.799 - Appropriation—Expenditure limited to bond sale proceeds.
47.10.801 - Issuance and sale of general obligation bonds.
47.10.802 - Administration and amount of bond sales.
47.10.803 - Bond proceeds—Deposit and use.
47.10.804 - Statement of general obligation—Pledge of excise taxes.
47.10.805 - Designation of funds to repay bonds and interest.
47.10.806 - Repayment procedure—Bond retirement fund.
47.10.807 - Sums in excess of retirement requirements—Use.
47.10.808 - Bonds legal investment for state funds.
47.10.809 - Bonds equal charge against fuel tax revenues.
47.10.812 - Issuance and sale of general obligation bonds.
47.10.813 - Administration and amount of sale.
47.10.814 - Proceeds—Deposit and use.
47.10.815 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.816 - Designation of funds to repay bonds and interest.
47.10.819 - Issuance and sale of general obligation bonds.
47.10.820 - Administration and amount of sale.
47.10.821 - Proceeds—Deposit and use.
47.10.822 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.823 - Designation of funds to repay bonds and interest.
47.10.834 - Issuance and sale of general obligation bonds.
47.10.835 - Administration and amount of sale.
47.10.836 - Proceeds—Deposit and use.
47.10.837 - Designation of funds to repay bonds and interest.
47.10.838 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.839 - Repayment procedure—Bond retirement fund.
47.10.843 - Bond issue authorized.
47.10.844 - Administration and amount of sale.
47.10.845 - Proceeds—Deposit and use.
47.10.846 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.847 - Repayment procedure—Bond retirement fund.
47.10.861 - Bond issue authorized.
47.10.862 - Administration and amount of sale.
47.10.863 - Proceeds—Deposit and use.
47.10.864 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.865 - Repayment procedure—Bond retirement fund.
47.10.867 - Bond issue authorized—Appropriation of proceeds.
47.10.868 - Proceeds—Deposit and use.
47.10.869 - Repayment procedure.
47.10.870 - Statement of general obligation—Transfer and payment of funds.
47.10.871 - Additional repayment means.
47.10.873 - Bond issue authorized.
47.10.874 - Administration and amount of sale.
47.10.875 - Proceeds—Deposit and use.
47.10.876 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.877 - Repayment procedure—Bond retirement fund.
47.10.879 - Bond issue authorized.
47.10.880 - Administration and amount of sale.
47.10.881 - Proceeds—Deposit and use.
47.10.883 - Statement of general obligation—Pledge of toll revenue and excise taxes.
47.10.884 - Repayment procedure.
47.10.886 - Toll revenue bonds.
47.10.889 - Bond issue authorized.
47.10.890 - Administration and amount of sale.
47.10.891 - Proceeds—Deposit and use.
47.10.892 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
47.10.893 - Repayment procedure—Bond retirement fund.
47.10.894 - Equal charge against fuel excise taxes and vehicle-related fees.
47.10.896 - Bond issue authorized.
47.10.897 - Administration and amount of sale.
47.10.898 - Proceeds—Deposit and use.
47.10.900 - Repayment procedure.
47.10.901 - Equal charge against fuel excise taxes and vehicle-related fees.
47.10.905 - Toll facility bond retirement account.
47.10.908 - Definitions applicable to chapter 103, Laws of 2022.