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Chapter 43.96B RCW

EXPO '74 — BOND ISSUE

RCW Sections

STATE PAVILION -- BOND ISSUE
43.96B.200Legislative finding.
43.96B.205Bond issue -- Authorized.
43.96B.210Bond issue -- Issuance and sale of bonds -- Form, terms, conditions, etc. -- Authority of state finance committee.
43.96B.215Bond issue -- Anticipation notes -- Disposition of proceeds -- Acquisition of property by Expo '74 commission authorized.
43.96B.220Bond issue -- Administration of proceeds.
43.96B.225Bond issue -- Redemption fund -- Payment of bonds.
43.96B.230Bond issue -- Additional means of payment.
43.96B.235Bond issue -- Legal investment for public funds.
43.96B.240Appropriation.
43.96B.245Severability -- 1973 1st ex.s. c 116.
43.96B.900Severability -- 1971 ex.s. c 3.


43.96B.200
Legislative finding.

The legislature finds that an expansion of the state pavilion at Expo '74 initially authorized for construction by the 1971 legislature is consistent with the purposes of the exposition and the needs of the state of Washington in order that the facility produced will both more adequately serve the state during the exposition and as a permanent structure for the benefit of the state afterwards.

[1973 1st ex.s. c 116 § 1.]




43.96B.205
Bond issue — Authorized.

For the purpose of providing additional space for the Washington State Pavilion at Expo '74 as determined to be necessary by the Expo '74 commission, including the planning, acquisition, construction, remodeling and equipping, together with all improvements and enhancements of said project, the state finance committee is authorized to issue general obligation bonds of the state of Washington in the sum of two million nine hundred thousand dollars, or so much thereof as may be required, to finance the projects defined in RCW 43.96B.200 through 43.96B.245 and all costs incidental thereto. Such bonds shall be paid and discharged within thirty years of the date of issuance in accordance with Article VIII, section 1 of the state Constitution.

[1973 1st ex.s. c 116 § 2.]




43.96B.210
Bond issue — Issuance and sale of bonds — Form, terms, conditions, etc. — Authority of state finance committee.

The issuance, sale and retirement of said bonds shall be under the supervision and control of the state finance committee. The committee is authorized to prescribe the form, terms, conditions, and covenants of the bonds, the time or times of sale of all or any portion of them, and the conditions and manner of their sale, issuance and redemption. None of the bonds authorized in RCW 43.96B.200 through 43.96B.245 shall be sold for less than the par value thereof.

     The committee may provide that the bonds, or any of them, may be called prior to the maturity date thereof under such terms, conditions, and provisions as it may determine and may authorize the use of facsimile signatures in the issuance of such bonds and notes, if any. Such bonds shall be payable at such places as the committee may provide.

[1973 1st ex.s. c 116 § 3.]




43.96B.215
Bond issue — Anticipation notes — Disposition of proceeds — Acquisition of property by Expo '74 commission authorized.

At the time the state finance committee determines to issue such bonds or a portion thereof, it may, pending the issuing of such bonds, issue, in the name of the state, temporary notes in anticipation of the money to be derived from the sale of the bonds, which notes shall be designated as "anticipation notes". Such portion of the proceeds of the sale of such bonds that may be required for such purpose shall be applied to the payment of the principal of and interest on such anticipation notes which have been issued. The proceeds from the sale of bonds authorized by RCW 43.96B.200 through 43.96B.245 and any interest earned on the interim investment of such proceeds, shall be deposited in the state building construction account of the general fund in the state treasury and shall be used exclusively for the purposes specified in RCW 43.96B.200 through 43.96B.245 and for the payment of expenses incurred in the issuance and sale of the bonds. The Expo '74 commission is hereby authorized to acquire property, real and personal, by lease, purchase[,] condemnation or gift to achieve the objectives of chapters 1, 2, and 3, Laws of 1971 ex. sess., and RCW 43.96B.200 through 43.96B.245. The commission is further directed pursuant to RCW 43.19.450 to utilize the *department of general administration services to accomplish the purposes set forth herein.

[1973 1st ex.s. c 116 § 4.]

Notes:

     *Reviser's note: The "department of general administration" was renamed the "department of enterprise services" by 2011 1st sp.s. c 43 § 107.




43.96B.220
Bond issue — Administration of proceeds.

The principal proceeds from the sale of the bonds or notes deposited in the state building construction account of the general fund shall be administered by the Expo '74 commission.

[1973 1st ex.s. c 116 § 5.]




43.96B.225
Bond issue — Redemption fund — Payment of bonds.

The state building bond redemption fund, 1973-A, is hereby created in the state treasury, which fund shall be exclusively devoted to the payment of the principal of and interest on the bonds authorized by RCW 43.96B.200 through 43.96B.245. The state finance committee, shall, on or before June 30th of each year, certify to the state treasurer the amount needed in the ensuing twelve months to meet such bond retirement and interest requirements and on July 1st of each year the state treasurer shall deposit such amount in the state building bond redemption fund, 1973-A, from any general state revenues received in the state treasury and certified by the state treasurer to be general state revenues. Bonds issued under the provisions of RCW 43.96B.200 through 43.96B.245 shall state that they are a general obligation of the state of Washington, shall pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon and shall contain an unconditional promise to pay such principal and interest as the same shall become due. The owner and holder of each of the bonds or the trustee for the owner and holder of any of the bonds may by a mandamus or other appropriate proceeding require the transfer and payment of funds as directed herein.

[1973 1st ex.s. c 116 § 6.]




43.96B.230
Bond issue — Additional means of payment.

The legislature may provide additional means for raising moneys for the payment of the principal of and interest on the bonds authorized herein, and RCW 43.96B.200 through 43.96B.245 shall not be deemed to provide an exclusive method for such payment.

[1973 1st ex.s. c 116 § 7.]




43.96B.235
Bond issue — Legal investment for public funds.

The bonds authorized in RCW 43.96B.200 through 43.96B.245 shall be a legal investment for all state funds or funds under state control and for all funds of any other public body.

[1973 1st ex.s. c 116 § 8.]




43.96B.240
Appropriation.

There is hereby appropriated to the Expo '74 commission from the state building construction account of the general fund the sum of two million nine hundred thousand dollars or so much thereof as may be necessary to accomplish the purposes of RCW 43.96B.200 through 43.96B.245.

[1973 1st ex.s. c 116 § 9.]




43.96B.245
Severability — 1973 1st ex.s. c 116.

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 of the provision to other persons or circumstances is not affected.

[1973 1st ex.s. c 116 § 10.]




43.96B.900
Severability — 1971 ex.s. c 3.

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 of the provision to other persons or circumstances is not affected.

[1971 ex.s. c 3 § 9.]