Revised Code of Washington - RCW Title 39 Public Contracts And Indebtedness - Section 39.94.010 Purposes -- Construction

§ 39.94.010. Purposes -- Construction

The purposes of this chapter are to confirm the authority of the state, its agencies, departments, and instrumentalities, the state board for community and technical colleges, and the state institutions of higher education to enter into contracts for the acquisition of real and personal property which provide for payments over a term of more than one year and to exclude such contracts from the computation of indebtedness under RCW 39.42.060 and Article VIII, section 1 of the state Constitution. It is further the purpose of this chapter to permit the state, its agencies, departments, and instrumentalities, the state board for community and technical colleges, and the state institutions of higher education to enter into financing contracts which make provision for the issuance of certificates of participation and other financing structures. Financing contracts of the state, whether or not entered into under this chapter, shall be subject to approval by the state finance committee except as provided in this chapter.

This chapter shall be liberally construed to effect its purposes.

[1998 c 291 § 2; 1989 c 356 § 1.]

Notes:
     Application -- 1998 c 291: See note following RCW 39.94.050.

Sections:  39.94.010  39.94.020  39.94.030  39.94.040  39.94.050  39.94.900  Next

Last modified: April 7, 2009