§ 43.88.265. Construction accounts -- Exception to certain accounting requirements
In order to comply with the provisions of the federal tax reform act of 1986, construction accounts that receive bond proceeds are exempt from RCW 43.88.050, 43.88.110, and 43.88.260 and may incur seasonal cash deficits pending the sale of bonds or bond anticipation notes subject to the following conditions:
(1) The respective account has unexpended appropriation authority.
(2) There are authorized unissued bonds available for sale by the state finance committee under direction to deposit the proceeds of the sale in the respective account.
(3) The bonds are of an amount that would remedy the cash deficit if the bonds were sold.
[1989 1st ex.s. c 14 § 18.]
Notes:
Severability -- Effective dates -- 1989 1st ex.s. c 14: See RCW 43.99H.900 and 43.99H.901.
Sections: Previous 43.88.205 43.88.210 43.88.220 43.88.230 43.88.240 43.88.250 43.88.260 43.88.265 43.88.270 43.88.280 43.88.290 43.88.300 43.88.310 43.88.320 43.88.350 Next
Last modified: April 7, 2009