RCW 47.56.170
Toll bridges—Transfer of funds for bond payments—Surplus funds.
From the money deposited in each separate construction fund under RCW 47.56.160, the state treasurer shall transfer to the place or places of payment named in the bonds such sums as may be required to pay the interest as it becomes due on all bonds sold and outstanding for the construction of a particular toll bridge or toll bridges during the period of actual construction and during the period of six months immediately thereafter. The state treasurer shall thereafter transfer from each separate toll revenue fund to the place or places of payment named in the bonds such sums as may be required to pay the interest on the bonds and redeem the principal thereof as the interest payments and bond redemption become due for all bonds issued and sold for the construction of the particular toll bridge or toll bridges producing the tolls or revenues so deposited in the toll revenue fund. All funds so transferred for the payment of principal or interest on bonds issued for any particular toll bridge shall be segregated and applied solely for the payment of that principal or interest. The proceedings authorizing the issuance of bonds may provide for setting up a reserve fund or funds out of the tolls and other revenues not needed for the payment of principal and interest, as the same currently matures and for the preservation and continuance of the fund in a manner to be provided therein. The proceedings may also require the immediate application of all surplus moneys in the toll revenue fund to the retirement of the bonds prior to maturity, by call or purchase, in such manner and upon such terms and the payment of such premiums as may be deemed advisable in the judgment of the department.
The moneys remaining in each separate toll revenue fund after providing the amount required for interest and redemption of bonds as provided in this section shall be held and applied as provided in the proceedings authorizing the issuance of the bonds. If the proceedings authorizing the issuance of the bonds do not require surplus revenues to be held or applied in any particular manner, they shall be allocated and used for such other purposes incidental to the construction, operation, and maintenance of the toll bridge or bridges as the department may determine.
[ 1984 c 7 § 259; 1961 c 13 § 47.56.170. Prior: 1937 c 173 § 14, part; RRS § 6524-14, part.]
Structure Revised Code of Washington
Title 47 - Public Highways and Transportation
Chapter 47.56 - State Toll Bridges, Tunnels, and Ferries.
47.56.030 - Powers and duties regarding toll facilities—Purchasing.
47.56.031 - Approval of tolls.
47.56.032 - Authority of department and commission relating to state ferries.
47.56.040 - Toll bridges authorized—Investigations.
47.56.042 - State boundary bridges—Investigations—Agreements with counties or states.
47.56.050 - Purchase of bridges and ferries authorized—Provisions applicable.
47.56.060 - Toll bridges—General powers of department and officials—Financial statements.
47.56.070 - Toll facilities authorized—Provisions applicable.
47.56.076 - Regional transportation investment district—Vehicle tolls authorized.
47.56.077 - Concessions to operate private business on toll road prohibited.
47.56.078 - Transportation benefit district—Vehicle tolls authorized.
47.56.090 - Authority to acquire right-of-way in constructing a toll bridge.
47.56.100 - Toll bridges—Right-of-way across state highways and political subdivisions—Compensation.
47.56.110 - Toll bridges—Resolution of necessity in acquiring right-of-way—Effect of.
47.56.120 - Toll bridges—Construction directed—Costs.
47.56.130 - Toll bridges—Bonds—Cooperative funds from state and federal government.
47.56.140 - Toll bridges, bonds—Form, contents, manner of sale—Interim bonds.
47.56.160 - Toll bridges—Toll revenue fund.
47.56.165 - Tacoma Narrows toll bridge account.
47.56.167 - Toll collection account.
47.56.170 - Toll bridges—Transfer of funds for bond payments—Surplus funds.
47.56.180 - Toll bridges—Payments made by warrants on vouchers—Interest on deposits.
47.56.190 - Toll bridges—Agreement on deposit of funds.
47.56.200 - Toll bridges—Use of bond proceeds and revenue for expenses.
47.56.210 - Toll bridges—Remedies of bond holders.
47.56.220 - Toll bridges—Limitations on other service—Protection of outstanding bonds.
47.56.230 - Toll bridges—Insurance or indemnity bonds authorized.
47.56.240 - Toll bridges—Fixing of toll rates authorized—Lien of bonds on revenue.
47.56.245 - Toll charges retained until costs paid.
47.56.247 - Credit permits for vehicular passage.
47.56.248 - Credit permits for vehicular passage—Cash deposit or bond—Revocation of permit.
47.56.250 - Contributions by the state or political subdivision—Bonds—Repayment.
47.56.254 - Sale of unneeded property—Authorized—Rules.
47.56.255 - Sale of unneeded property—Certification to governor—Execution, delivery of deed.
47.56.256 - Franchises for utility, railway, urban public transportation purposes.
47.56.257 - Deposit of moneys received under RCW 47.56.253 through 47.56.256.
47.56.258 - Notification requirements.
47.56.270 - 1950 Tacoma Narrows bridge part of primary highways.
47.56.271 - 1950 Tacoma Narrows bridge toll-free—Exception.
47.56.366 - Hood Canal bridge—Public sport fishing—Disclaimer of liability.
47.56.401 - High occupancy toll lanes defined.
47.56.600 - Naches Pass tunnel—Design.
47.56.711 - Spokane river bridges.
47.56.725 - County ferries—Deficit reimbursements—Capital improvement funds.
47.56.730 - "No Smoking" areas on ferries—Establishment directed.
47.56.770 - Refunding bonds—Authorized.
47.56.772 - Refunding bonds—Liquidation of existing bond funds.
47.56.773 - Refunding bonds—Repayment to Puget Sound capital construction account.
47.56.774 - Various bond issues—Charge against fuel tax revenues.
47.56.790 - Interstate 90 floating bridge tolls—Federal authorization—Report.
47.56.796 - Toll rates—Legislative approval—Adjustments—Reports.
47.56.820 - Imposition of tolls on eligible toll facilities—Who may authorize, revenue expenditures.
47.56.830 - Policy guidelines for eligible toll facility proposals.
47.56.840 - Tolling advisory committee.
47.56.855 - Report to legislature on toll rate increases and decreases by transportation commission.
47.56.864 - Alaskan Way viaduct replacement project account—Deposits—Use and transfer of funds.
47.56.875 - State route No. 520 corridor account—Deposits—Use and transfer of funds.
47.56.876 - State route number 520 civil penalties account.
47.56.884 - Interstate 405 and state route number 167 express toll lanes account.
47.56.888 - Interstate 405 and state route number 167 corridors—Performance—Reevaluation of options.
47.56.895 - Puget Sound Gateway facility—Toll rates.