Revised Code of Washington - RCW Title 43 State Government -- Executive - Chapter 43.180 Housing Finance Commission
- 43.180.010 Declaration of public policies -- Purpose
It is declared to be the public policy of the state and a recognized governmental function to assist in making affordable and decent housing available ...
- 43.180.020 Definitions
Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) "Bonds" means the bonds, notes, or other evidences of ...
- 43.180.030 Bonds not debt of state
Bonds issued under this chapter shall be issued in the name of the commission. The bonds shall not be obligations of the state of Washington ...
- 43.180.040 Commission created
(1) There is hereby established a public body corporate and politic, with perpetual corporate succession, to be known as the Washington state housing finance commission. ...
- 43.180.050 Housing financing powers -- Annual audit
(1) In addition to other powers and duties prescribed in this chapter, and in furtherance of the purposes of this chapter to provide decent, safe, ...
- 43.180.060 No power of eminent domain or taxation
The commission does not have the power of eminent domain and the commission does not have the power to levy any taxes of any kind.[1983 ...
- 43.180.070 Housing finance plan
The commission shall adopt a general plan of housing finance objectives to be implemented by the commission during the period of the plan. The commission ...
- 43.180.080 General powers
In addition to other powers and duties specified in this chapter, the commission may: (1) Establish in resolutions relating to any issuance of bonds, or ...
- 43.180.090 Selection of bond counsel -- Written policies to be adopted
(1) The commission shall adopt written policies to provide for the selection of bond counsel. The policies shall provide for the creation and maintenance of ...
- 43.180.100 Selection of underwriters -- Written policies to be adopted
(1) The commission shall adopt written policies to provide for the selection of underwriters. The policies shall provide for the creation of a roster of ...
- 43.180.110 Review of initial policies adopted under RCW 43.180.090 and 43.180.100 -- Adoption -- Change
The commission shall submit the initial policies adopted under RCW 43.180.090 and 43.180.100 to the chief clerk of the house and the secretary of the ...
- 43.180.120 Rules for fair allocation of bond proceeds for nonrental single family housing
The legislature recognizes that the demand for mortgage loans for nonrental single family housing will probably greatly exceed the supply of bond proceeds available to ...
- 43.180.130 Protection of bondholders -- Mortgage insurance
The commission is encouraged to adopt policies which will assure that bondholders will be protected against the failure to make mortgage payments financed under this ...
- 43.180.140 Rules for energy efficiency
The commission shall adopt rules providing for financing assistance to implement cost-effective energy efficiency improvements.[1983 c 161 § 14.] ...
- 43.180.150 Bond issues -- Terms -- Issuance -- Purchase, etc
(1) The commission's bonds shall bear such date or dates, mature at such time or times, be in such denominations, be in such form, be ...
- 43.180.160 Debt limitation
The total amount of outstanding indebtedness of the commission may not exceed five billion dollars at any time. The calculation of outstanding indebtedness shall include ...
- 43.180.170 Bond issues -- Disposition of proceeds -- Special fund
Proceeds from the sale of all bonds issued under this chapter received by the commission shall be deposited forthwith by the commission in any trust ...
- 43.180.180 Bond issues -- Disposition of revenues -- Special trust fund
All revenues received by the commission including funds received from contributions or grants or in any other form to pay principal of and interest on ...
- 43.180.190 Legal investments
Bonds issued under this chapter are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all ...
- 43.180.200 Internal revenue code
For purposes of the code: (1) The legislature reserves the right at any time to alter or change the structure, organization, programs, or activities of ...
- 43.180.220 Housing finance program -- Mortgage financing -- Investments -- Flexible loan underwriting guidelines
The commission, in cooperation with the department of community, trade, and economic development, and the state investment board, shall develop and implement a housing finance ...
- 43.180.230 Housing finance program -- Program elements
The housing finance program developed under RCW 43.180.220 shall: (1) Be limited to borrowers with incomes that do not exceed one hundred fifteen percent of ...
- 43.180.240 Housing finance program -- Report to legislature annually -- Implementation
(1) The commission shall submit to the legislature in its annual report a summary of the progress of the housing finance program developed under RCW ...
- 43.180.250 Veteran homeownership downpayment assistance program -- Rules
(1) By January 1, 2007, the Washington state housing finance commission shall create and implement a veteran homeownership downpayment assistance program to work in conjunction ...
- 43.180.290 Beginning farmer financing program
(1) The commission may develop and implement a program to provide financing for beginning farmers. In developing the program, the commission shall establish eligibility criteria ...
- 43.180.300 Definitions
As used in RCW 43.180.310 through 43.180.360, the following terms have the meanings indicated unless the context clearly requires otherwise. (1) "Construction" or "construct" means ...
- 43.180.310 Commission powers
The commission has the following powers with respect to nonprofit facilities together with all powers incidental thereto or necessary for the performance thereof: (1) To ...
- 43.180.320 Revenue bonds
(1) The proceeds of the revenue bonds of each issue shall be used solely for the purposes set forth in this subchapter and shall be ...
- 43.180.330 Revenue refunding bonds
The commission may provide by resolution for the issuance of revenue refunding bonds for the purpose of refunding any obligations issued for a nonprofit facility, ...
- 43.180.340 Trust agreements
Any bonds issued under this subchapter may be secured by a trust agreement between the commission and a corporate trustee, which may be any trust ...
- 43.180.350 Lessees or assignees
A lessee or contracting party under a sale contract or loan agreement shall not be required to be the eventual user of a nonprofit facility ...
- 43.180.360 Default
The proceedings authorizing any revenue bonds under this subchapter or any financing document securing the revenue bonds may provide that if there is a default ...
- 43.180.900 Conflict with federal requirements
If any part of this chapter is found to be in conflict with federal requirements which are a prescribed condition to the allocation of federal ...
- 43.180.901 Liberal construction
This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof.[1983 c 161 § ...
- 43.180.902 Captions not part of law
As used in this chapter and RCW 82.04.408, section captions constitute no part of the law.[1983 c 161 § 24.] ...
- 43.180.903 Severability -- 1983 c 161
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...
- 43.180.904 Effective dates -- 1983 c 161
(1) Except as provided in subsection (2) of this section, this act is necessary for the immediate preservation of the public peace, health, and safety, ...
Last modified: April 7, 2009