RCW 28B.20.396
401 words·~2 min read·
/wa/title-28b/chapter-28b-20/28b-20-396·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Bonds issued pursuant to the authority granted under RCW 28B.20.395 :
(1)Shall not constitute
(a)an obligation, either general or special, of the state or
(b)a general obligation of the University of Washington or of the board of regents;
(2)Shall be:
(a)Either in bearer form or in registered form as provided in RCW 39.46.030 , and
(b)Issued in denominations of not less than one hundred dollars;
(3)Shall state:
(a)The date of issue, and
(b)The series of the issue and be consecutively numbered within the series, and
(c)That the bond is payable only out of a special fund established for the purpose, and designate the fund;
(4)Shall bear interest, payable either annually, or semiannually as the board of regents may determine;
(5)Shall be payable solely out of:
(a)Revenue derived from operating, managing and leasing the university tract, and
(b)A special fund, created by the board of regents for the purpose, consisting either of
(i)a fixed proportion, or
(ii)a fixed amount out of and not exceeding a fixed proportion, or
(iii)a fixed amount without regard to any fixed proportion, of the revenue so derived;
(6)May contain covenants by the board of regents in conformity with the provisions of RCW 28B.20.398 (2);
(7)Shall be payable at such times over a period of not to exceed thirty years, in such manner and at such place or places as the board of regents determines;
(8)Shall be executed in such manner as the board of regents by resolution determines;
(9)Shall be sold in such manner as the board of regents deems for the best interest of the University of Washington;
(10)May be issued under chapter 39.46 RCW.
[ 1999 c 346 s 6 ; 1983 c 167 s 33 ; 1970 ex.s. c 56 s 25 ; 1969 ex.s. c 232 s 99 ; 1969 ex.s. c 223 s 28B.20.396 . Prior: 1947 c 284 s 3 ; Rem. Supp. 1947 s 4566-13. Formerly RCW 28.77.370 .]
Notes:
Purpose — Construction — Effective date — 1999 c 346: See notes following RCW 28B.20.381 .
Liberal construction — Severability — 1983 c 167: See RCW 39.46.010 and note following.
Purpose — 1970 ex.s. c 56: See note following RCW 39.52.020 .
Validation — Saving — Severability — 1969 ex.s. c 232: See notes following RCW 39.52.020 .