Washington Code 47.56.884 – Interstate 405 and state route number 167 express toll lanes account
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(1) The Interstate 405 and state route number 167 express toll lanes account is created in the motor vehicle fund.
Terms Used In Washington Code 47.56.884
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) Deposits to the account must include:
(a) All proceeds of bonds authorized in RCW 47.10.896(1)(a) and loans for the Interstate 405 and state route number 167 projects, including capitalized interest;
(b) All tolls and other revenues received from the operation of the Interstate 405 and state route number 167 express toll lanes facility, to be deposited at least monthly;
(c) Any interest that may be earned from the deposit or investment of those revenues;
(d) Notwithstanding RCW 47.12.063, proceeds from the sale of any surplus real property acquired for completing the Interstate 405 and state route number 167 express toll lanes facility; and
(e) All damages liquidated or otherwise, collected under any contract involving Interstate 405 or state route number 167 projects.
(3) Moneys in the account may be spent only after appropriation, consistent with RCW 47.56.820.
(4) The proceeds of the general obligation bonds authorized in RCW 47.10.896(1)(a) shall be used to make progress toward completion of the Interstate 405 and state route number 167 master plans. It is the intent of the legislature to first use the bond proceeds for the following projects:
(a) Up to six hundred million dollars to design and construct capacity improvements on Interstate 405 between state route number 522 and state route number 527. This project would widen Interstate 405 through the state route number 522 interchange, build direct access ramps to the express toll lanes at state route number 522, build one new lane in each direction to be used as a second express toll lane, and build a partial direct access ramp at state route number 527 to the east, north, and south, to provide connections to the Canyon Park park and ride;
(b) Up to two hundred fifteen million dollars toward completion of the I-405/Renton to Bellevue – Corridor Widening project (M00900R);
(c) Up to three million dollars to update the state route number 167 master plan;
(d) Up to one hundred million dollars to construct both the northbound and southbound state route number 167 stage 6 extension project. This project would extend the express toll lanes south to the state route number 410 and state route number 512 interchange to help mitigate traffic congestion; and
(e) Up to twenty million dollars to design the Interstate 405/North 8th Street Direct Access Ramp project in the city of Renton. It is the intent of the legislature to provide construction funding for this project at a later date.
NOTES:
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
Intent—2011 c 369: See note following RCW 47.56.880.