§ 43.180.160. Debt limitation
The total amount of outstanding indebtedness of the commission may not exceed five billion dollars at any time. The calculation of outstanding indebtedness shall include the initial principal amount of an issue and shall not include interest that is either currently payable or that accrues as a part of the face amount of an issue payable at maturity or earlier redemption. Outstanding indebtedness shall not include notes or bonds as to which the obligation of the commission has been satisfied and discharged by refunding or for which payment has been provided by reserves or otherwise.
[2008 c 111 § 1; 2006 c 262 § 1; 1999 c 131 § 2; 1996 c 310 § 2; 1986 c 264 § 2; 1983 c 161 § 16.]
Sections: Previous 43.180.090 43.180.100 43.180.110 43.180.120 43.180.130 43.180.140 43.180.150 43.180.160 43.180.170 43.180.180 43.180.190 43.180.200 43.180.220 43.180.230 43.180.240 NextLast modified: April 7, 2009