Revised Code of Washington - RCW Title 43 State Government -- Executive - Chapter 43.340 Tobacco Settlement Authority
- 43.340.005 Purpose -- Construction
The legislature declares it to be the public policy of the state and a recognized governmental function to assist in securitizing the revenue stream from ...
- 43.340.010 Definitions
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Authority" means the tobacco settlement authority created in this ...
- 43.340.020 Tobacco settlement authority -- Governing board -- Meetings -- Staff support
(1) The tobacco settlement authority is created and constitutes a public instrumentality and agency of the state, separate and distinct from the state, exercising public ...
- 43.340.030 Tobacco settlement authority -- Powers -- Rule-making authority
(1) The authority has all the general powers necessary to carry out its purposes and duties and to exercise its specific powers. In addition to ...
- 43.340.040 Financing powers
In addition to other powers and duties prescribed in this chapter, the authority is empowered to: (1) Establish a stable source of revenue to be ...
- 43.340.050 Bonds
(1) The authority may issue its bonds in principal amounts which, in the opinion of the authority, are necessary to provide sufficient funds for achievement ...
- 43.340.060 Bonds -- Obligations of authority--Not obligations of state
(1) Bonds issued under this chapter shall be issued in the name of the authority. The bonds shall not be obligations of the state of ...
- 43.340.070 Bonds -- Legal investments
Bonds issued under this chapter are hereby made securities in which all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking ...
- 43.340.080 Sale of rights in master settlement agreement
(1) The governor is authorized to sell and assign to the authority all of the state's right to receive a portion of the state's annual ...
- 43.340.090 Limitation of liability
Members of the board and persons acting in the authority's behalf, while acting within the scope of their employment or agency, are not subject to ...
- 43.340.100 Bankruptcy -- Contractual obligation to contain section
Prior to the date that is three hundred sixty-six days after which the authority no longer has any bonds outstanding, the authority is prohibited from ...
- 43.340.110 Dissolution of authority
The authority shall dissolve no later than two years from the date of final payment of all of its outstanding bonds and the satisfaction of ...
- 43.340.120 Tobacco securitization trust account
The state treasurer shall deposit the proceeds of the sale of revenue under this chapter into the tobacco securitization trust account hereby created and held ...
- 43.340.130 Appeals bonds -- Amounts
(1) Except as provided in subsection (2) of this section, in order to secure and protect the moneys to be received as a result of ...
- 43.340.900 Captions not law -- 2002 c 365
Captions used in this act are not any part of the law.[2002 c 365 § 16.] ...
- 43.340.901 Severability -- 2002 c 365
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 ...
- 43.340.902 Effective date -- 2002 c 365
This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public ...
Last modified: April 7, 2009