§ 28B.50.740. School district bonds--Those issued for community and technical college facilities not considered indebtedness under statutory limitations on
Notwithstanding any other statutory provision relating to indebtedness of school districts, bonds heretofore issued by any common school district for the purpose of providing funds for community and technical college facilities shall not be considered as indebtedness in determining the maximum allowable indebtedness under any statutory limitation of indebtedness when the sum of all indebtedness therein does not exceed the maximum constitutional allowable indebtedness applied to the value of the taxable property contained in such school district: PROVIDED, That nothing contained herein shall be construed to affect the distribution of state funds under any applicable distribution formula.
[1991 c 238 § 61; 1969 ex.s. c 223 § 28B.50.740. Prior: 1967 ex.s. c 8 § 74. Formerly RCW 28.85.740.]
Notes:
Forty mill limit: State Constitution Art. 7 § 2.
Limitation of indebtedness prescribed: RCW 39.36.020.
Limitations upon municipal indebtedness: State Constitution Art. 8 § 6. Sections: Previous 28B.50.534 28B.50.535 28B.50.536 28B.50.551 28B.50.553 28B.50.600 28B.50.601 28B.50.740 28B.50.810 28B.50.820 28B.50.835 28B.50.8351 28B.50.837 28B.50.839 28B.50.841 Next
Last modified: April 7, 2009