§ 28B.14C.060. Institutions of higher education refunding bond retirement fund of 1977 -- Created -- Use
There is hereby created in the state treasury the institutions of higher education refunding bond retirement fund of 1977, which fund shall be devoted to the payment of principal of, interest on and redemption premium, if any, on the bonds authorized to be issued pursuant to this chapter.
The state finance committee shall, on or before June 30 of each year, certify to the state treasurer the amount needed in the next succeeding twelve months to pay the installments of principal of and interest on the refunding bonds coming due in such period. The state treasurer shall, not less than thirty days prior to the due date of each installment, withdraw from any general state revenues received in the state treasury an amount equal to the amount certified by the state finance committee as being required to pay such installment; shall deposit such amount in the institutions of higher education refunding bond retirement fund of 1977; and shall apply in a timely manner the funds so deposited to the payment of the installment due on the bonds.
[1991 sp.s. c 13 § 80; 1977 ex.s. c 354 § 6.]
Notes:
Effective dates -- Severability -- 1991 sp.s. c 13: See notes following RCW 18.08.240.
Sections: Previous 28B.14C.010 28B.14C.020 28B.14C.030 28B.14C.040 28B.14C.050 28B.14C.060 28B.14C.070 28B.14C.080 28B.14C.090 28B.14C.100 28B.14C.110 28B.14C.120 28B.14C.130 28B.14C.140 28B.14C.900 Next
Last modified: April 7, 2009