Washington Code 52.16.061 – General obligation bonds — Issuance — Limitations
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The board of fire commissioners of the district shall have authority to contract indebtedness and to refund same for any general district purpose, including expenses of maintenance, operation and administration, and the acquisition of firefighting facilities, and evidence the same by the issuance and sale of general obligation bonds of the district payable at such time or times not longer than twenty years from the issuing date of the bonds. Such bonds shall be issued and sold in accordance with chapter 39.46 RCW. Such bonds shall not exceed an amount, together with any outstanding nonvoter approved general obligation indebtedness, equal to three-eighths of one percent of the value of the taxable property within the fire protection district, as the term “value of the taxable property” is defined in RCW 39.36.015.
[ 1993 c 231 § 1; 1984 c 186 § 39; 1983 c 167 § 122; 1970 ex.s. c 56 § 66; 1969 ex.s. c 232 § 89; 1955 c 134 § 2; 1953 c 176 § 3.]
NOTES:
Purpose—1984 c 186: See note following RCW 39.46.110.
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.
Terms Used In Washington Code 52.16.061
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.