§ 28B.20.725. Additional powers of board -- Issuance of bonds, investments, transfer of funds, etc
The board is hereby empowered:
(1) To reserve the right to issue bonds later on a parity with any bonds being issued;
(2) To authorize the investing of moneys in the bond retirement fund and any reserve account therein;
(3) To authorize the transfer of money from the University of Washington building account to the bond retirement fund when necessary to prevent a default in the payments required to be made out of such fund;
(4) To create a reserve account or accounts in the bond retirement fund to secure the payment of the principal of and interest on any bonds;
(5) To authorize the transfer to the University of Washington building account of any money on deposit in the bond retirement fund in excess of debt service for a period of three years from the date of such transfer on all outstanding bonds payable out of such fund.
[1969 ex.s. c 223 § 28B.20.725. Prior: 1959 c 193 § 6. Formerly RCW 28.77.545.]
Notes:
1977 Bond act for the refunding of outstanding limited obligation revenue bonds of institutions of higher education, as affecting: RCW 28B.14C.080 through 28B.14C.130.
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Last modified: April 7, 2009