The higher education reimbursable short-term bond account is hereby created in the state treasury, and shall be administered by the University of Washington, subject to legislative appropriation. This account shall be used exclusively for the purpose of providing funds for the University of Washington and the state community colleges to perform capital projects which consist of the planning, designing, constructing, remodeling, repairing, improving, furnishing, and equipping of state buildings, structures, utilities, roads, grounds, and lands, and to provide for the administrative cost of such projects, including costs of bond issuance and retirement, salaries and related costs of officials and employees of the state, costs of insurance or credit enhancement agreements, and other expenses incidental to the administration of capital projects.

Effective date—2012 c 198: See note following RCW 70A.15.5110.

Effective dates—1989 1st ex.s. c 14: See RCW 43.99H.901.