(1) Interest shall be charged by the loaning fund to be paid by the borrowing fund. The rate of interest shall be not less than the current warrant interest rate prevailing in the county in which the school district is considered to be located. The interest shall be credited to the loaning fund and shall not be transferred to any other fund.
(2) When a school district that is in binding conditions pursuant to RCW 28A.505.110 or under enhanced financial oversight pursuant to RCW 28A.315.221 takes a temporary interfund loan from its capital projects fund, the loaning capital projects fund may not charge interest on the amounts loaned.
[Statutory Authority: 2025 c 384, RCW 28A.65.465, 28A.150.290, 28A.335.135, 28A.505.040, 28A.505.090, 28A.505.140, and 28A.710.220. WSR 26-17-043, s 392-123-150, filed 8/12/26, effective 9/12/26; Order 8-76, § 392-123-150, filed 7/23/76; Order 7-75, § 392-123-150, filed 12/22/75. Formerly WAC 392-30-290.]