§ 35.21.440. Utilities -- Additional payments to school districts having bonded indebtedness
In the event any portion of such property shall be situated in any school district which, at the time of acquisition, has an outstanding bonded indebtedness, the city or town may in addition to the payments authorized in RCW 35.21.430, make annual payments to such school district which shall be applied to the retirement of the principal and interest of such bonds. Such payments shall be computed in the proportion which the assessed valuation of utility property so acquired shall bear to the total assessed valuation of the district at the time of the acquisition.
[1965 c 7 § 35.21.440. Prior: 1951 c 217 § 2.]
Sections: Previous 35.21.418 35.21.420 35.21.422 35.21.425 35.21.426 35.21.427 35.21.430 35.21.440 35.21.450 35.21.455 35.21.465 35.21.470 35.21.475 35.21.500 35.21.510 NextLast modified: April 7, 2009