§ 36.88.220. Improvement bonds -- Guaranty fund
All counties may establish a fund for the purpose of guaranteeing to the extent of such fund and in the manner hereinafter provided, the payment of its road improvement district bonds and warrants issued to pay for any road improvement ordered under this chapter. If the county legislative authority shall determine to establish such fund it shall be designated ". . . . . . county road improvement guaranty fund" and from moneys available for road purposes such county shall deposit annually in said guaranty fund such sums as may be necessary to establish and maintain a balance therein equal to at least five percent of the outstanding obligations guaranteed thereby and to make necessary provision in its annual budget therefor. The moneys held in the guaranty fund may be invested in accordance with the laws relating to county investments.
[1997 c 393 § 7; 1967 ex.s. c 145 § 63; 1963 c 4 § 36.88.220. Prior: 1959 c 134 § 2; 1951 c 192 § 22.]
Notes:
Severability -- 1967 ex.s. c 145: See RCW 47.98.043.
Sections: Previous 36.88.150 36.88.160 36.88.170 36.88.180 36.88.190 36.88.200 36.88.210 36.88.220 36.88.230 36.88.235 36.88.240 36.88.250 36.88.260 36.88.270 36.88.280 Next
Last modified: April 7, 2009