Wash. Rev. Code § 28B.20.725

Current through 2024

Section 28B.20.725 - Additional powers of board-Issuance of bonds, investments, transfer of funds, etc

The board is hereby empowered:

(1) To reserve the right to issue bonds later on a parity with any bonds being issued;

(2) To authorize the investing of moneys in the bond retirement fund and any reserve account therein;

(3) To authorize the transfer of money from the University of Washington building account to the bond retirement fund when necessary to prevent a default in the payments required to be made out of such fund;

(4) To create a reserve account or accounts in the bond retirement fund to secure the payment of the principal of and interest on any bonds;

(5) To authorize the transfer to the University of Washington building account of any money on deposit in the bond retirement fund in excess of debt service for a period of three years from the date of such transfer on all outstanding bonds payable out of such fund. However, during the 2021-2023 fiscal biennium, the legislature may transfer to the University of Washington building account moneys that are in excess of the debt service due within the 2021-2023 fiscal biennium from the date of such transfer on all outstanding bonds payable out of the bond retirement fund. However, during the 2023-2025 fiscal biennium, the legislature may transfer to the University of Washington building account moneys that are in excess of the debt service due within the 2023-2025 fiscal biennium from the date of such transfer on all outstanding bonds payable out of the bond retirement fund.

RCW 28B.20.725

Amended by 2023 c 474,§ 8023, eff. 5/16/2023.

Amended by 2021 c 332,§ 7027, eff. 5/18/2021.

Amended by 2019 c 413,§ 7025, eff. 5/21/2019.

Amended by 2018 c 2,§ 7019, eff. 1/19/2018.

Amended by 2015SP3 c 3,§ 7025, eff. 6/30/2015.

Amended by 2013SP2 c 19,§ 7027, eff. 7/1/2013.

Amended by 2011SP1 c 48, § 7020, eff. 6/15/2011.

Amended by 2010SP1 c 36, § 6008, eff. 5/4/2010.

1969 ex.s. c 223 § 28B.20.725. Prior: 1959 c 193 § 6. Formerly RCW 28.77.545.

Conflict with federal requirements-Effective date- 2023 c 474 : See notes following RCW 28A.320.330.

Effective date- 2021 c 332 : See note following RCW 43.19.501.

Effective date- 2019 c 413 : See note following RCW 28B.15.210.

Effective date- 2018 c 2 : See note following RCW 28B.10.027.

Effective date-2015 3rd sp.s. c 3: See note following RCW 43.160.080.

Effective date-2013 2nd sp.s. c 19: See note following RCW 43.34.080.

Effective date-2011 1st sp.s. c 48: See note following RCW 39.35B.050.

Effective date-2010 1st sp.s. c 36: See note following RCW 43.155.050.