§ 47.26.405. Bonds -- Designation of funds to repay bonds and interest
Any funds required to repay such bonds, or the interest thereon when due shall be taken from that portion of the motor vehicle fund which results from the imposition of excise taxes on motor vehicle and special fuels and which is distributed to the state under the provisions of *RCW 46.68.090(1)(c) for construction of state highways in urban areas, and shall never constitute a charge against any allocations of any other such funds to the state, counties, cities, and towns unless and until the amount of the motor vehicle fund arising from the excise taxes on motor vehicle and special fuels and available to the state for construction of state highways in urban areas proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
[1999 c 269 § 5; 1977 ex.s. c 317 § 17; 1967 ex.s. c 83 § 41.]
Notes:
*Reviser's note: RCW 46.68.090 was amended by 2003 c 361 § 403, changing subsection (1)(c) to subsection (2)(a).
Effective date -- 1999 c 269: See note following RCW 36.78.070.
Effective dates -- Severability -- 1977 ex.s. c 317: See notes following RCW 82.36.010.
Sections: Previous 47.26.340 47.26.345 47.26.400 47.26.401 47.26.402 47.26.403 47.26.404 47.26.405 47.26.406 47.26.407 47.26.420 47.26.421 47.26.422 47.26.423 47.26.424 Next
Last modified: April 7, 2009