RCW 86.15.170
General obligation bonds.
The supervisors may authorize the issuance of general obligation bonds to finance any flood control improvement or stormwater control improvement and provide for the retirement of the bonds with ad valorem property tax levies. The general obligation bonds may be issued and the bond retirement levies imposed only when the voters of the flood control zone district approve a ballot proposition authorizing both the bond issuance and imposition of the excess bond retirement levies pursuant to Article VIII, section 6 and Article VII, section 2(b) of the state Constitution and RCW 84.52.056. Elections shall be held as provided in RCW 39.36.050. The bonds shall be issued on behalf of the zone or participating zones and be approved by the voters of the zone or participating zones when the improvement has by the resolution, provided in RCW 86.15.110, been found to be of benefit to a zone or participating zones. The bonds may not exceed an amount, together with any outstanding general obligation indebtedness, equal to three-fourths of one percent of the value of taxable property within the zone or participating zones, as the term "value of the taxable property" is defined in RCW 39.36.015. The bonds shall be issued and sold in accordance with chapter 39.46 RCW.
[ 1984 c 186 § 62. Prior: 1983 c 315 § 21; 1983 c 167 § 211; 1961 c 153 § 17.]
NOTES:
Purpose—1984 c 186: See note following RCW 39.46.110.
Severability—1983 c 315: See note following RCW 90.03.500.
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
Structure Revised Code of Washington
Chapter 86.15 - Flood Control Zone Districts.
86.15.001 - Actions subject to review by boundary review board.
86.15.023 - Zones not to include area in other zones.
86.15.030 - Districts incorporating watersheds authorized—Formation, hearing and notice.
86.15.035 - Cooperative watershed management.
86.15.050 - Zones—Supervisors—Election of supervisors.
86.15.055 - Elected supervisors—Compensation.
86.15.070 - Advisory committees.
86.15.090 - Extraterritorial powers.
86.15.095 - Zones constitute quasi municipal corporation—Constitutional and statutory powers.
86.15.100 - Flood control or stormwater control improvements—Authorization.
86.15.110 - Flood control or stormwater control improvements—Initiation—Comprehensive plan.
86.15.120 - Flood control or stormwater control improvements—Hearing, notice.
86.15.130 - Zone treasurer—Funds.
86.15.160 - Excess levies, assessments, regular levies, and charges—Local improvement districts.
86.15.162 - Delinquent assessment—Sale of parcel—Accrual of interest.
86.15.170 - General obligation bonds.
86.15.175 - Community revitalization financing—Public improvements.
86.15.176 - Service charges authorized—Disposition of revenue.
86.15.178 - Revenue bonds—Lien for delinquent service charges.
86.15.180 - Protection of public property.
86.15.190 - Abatement of nuisances.
86.15.200 - Flood control zones—Consolidation, abolishment.
86.15.210 - Transfer of property.
86.15.220 - Planning of improvements.
86.15.230 - Public necessity of chapter.
86.15.900 - Severability—Construction—1961 c 153.