Washington Code 36.78.135 – County road administration board emergency loan account
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(1) The county road administration board emergency loan account is created in the custody of the state treasurer. The account consists of: (a) All receipts from loan repayments and (b) any other revenues derived from transfers, gifts, grants, or bequests to the board for emergency projects. Expenditures from the account may be used only for emergency loans to certain counties in accordance with RCW 36.78.130 and the related administrative costs. Only the board or its designee may authorize expenditures from the account. The account is subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.
Terms Used In Washington Code 36.78.135
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
(2) The state treasurer may invest and reinvest moneys in the county road administration board emergency loan account in the manner provided by law. All earnings from such investment and reinvestment must be credited to the account.
[ 2019 c 157 § 3.]
NOTES:
Finding—Intent—2019 c 157: See note following RCW 36.78.130.