Washington Statute | Act | Code |Fish And Wildlife| US Code - US Statute | Salmon Enhancement Facilities -- Bond Issue

RCW 77.90.010General obligation bonds authorized Purpose Terms Appropriation required.For the purpose of providing funds for the planning, acquisition, construction, and improvement of salmon hatcheries, other salmon propagation facilities including natural production sites, and necessary supporting facilities within the state, the state finance committee may issue general obligation bonds of the state of Washington in the sum of twenty-nine million two hundred thousand dollars or so much thereof as may be required to finance the improvements defined in this chapter and all costs incidental thereto. These bonds shall be paid and discharged within thirty years. No bonds authorized by this chapter may be offered for sale without prior legislative appropriation of the proceeds of such bonds to be sold.[1990 1st ex.s. c 15 § 10. Prior: 1989 1st ex.s. c 14 § 15; 1989 c 136 § 8; 1985 ex.s. c 4 § 10; 1983 1st ex.s. c 46 § 162; 1981 c 261 § 1; 1980 c 15 § 1; 1977 ex.s. c 308 § 2. Formerly RCW 75.48.020.]Notes:Severability -- 1990 1st ex.s. c 15: See note following RCW 43.99H.010.Severability -- Effective dates -- 1989 1st ex.s. c 14: See RCW 43.99H.900 and 43.99H.901.Intent -- 1989 c 136: See note following RCW 43.83A.020.Severability -- 1985 ex.s. c 4: See RCW 43.99G.900.Legislative finding -- 1977 ex.s. c 308: "The long range economic development goals for the state of Washington must include the restoration of salmon runs to provide an increased supply of this renewable resource for the benefit of commercial and recreational users and the economic well-being of the state." [1977 ex.s. c 308 § 1. Formerly RCW 75.48.010.] RCW 77.90.020Administration of proceeds.The proceeds from the sale of the bonds deposited in the salmon enhancement construction account of the general fund under the terms of this chapter shall be administered by the department subject to legislative appropriation.[1983 1st ex.s. c 46 § 164; 1977 ex.s. c 308 § 4. Formerly RCW 75.48.040.] RCW 77.90.030"Facilities" defined.As used in this chapter, "facilities" means salmon propagation facilities including, but not limited to, all equipment, utilities, structures, real property, and interests in and improvements on real property, as well as stream bed clearing, for or incidental to the acquisition, construction, or development of salmon propagation facilities. Specifically, the term includes a spawning channel on the Skagit river.[1983 1st ex.s. c 46 § 165; 1981 c 261 § 2; 1977 ex.s. c 308 § 5. Formerly RCW 75.48.050.] RCW 77.90.040Form, terms, conditions, etc., of bonds.The state finance committee may prescribe the form, terms, conditions, and covenants of the bonds, the time or times of sale of all or any portion of them, and the conditions and manner of their sale and issuance.[1989 c 136 § 9; 1983 1st ex.s. c 46 § 166; 1977 ex.s. c 308 § 6. Formerly RCW 75.48.060.]Notes:Intent -- 1989 c 136: See note following RCW 43.83A.020. RCW 77.90.050Anticipation notes Authorized Payment of principal and interest on bonds and notes.When the state finance committee has decided to issue the bonds or a portion thereof, it may, pending the issuing of the bonds, issue, in the name of the state, temporary notes in anticipation of the money to be derived from the sale of the bonds, which notes shall be designated as "anticipation notes". The portion of the proceeds of the sale of the bonds as may be required for the purpose shall be applied to the payment of the principal of and interest on the anticipation notes which have been issued. The bonds and notes shall pledge the full faith and credit of the state of Washington and shall contain an unconditional promise to pay the principal and interest when due. The state finance committee may authorize the use of a printed facsimile of the seal of the state of Washington in the issuance of the bonds and notes.[1983 1st ex.s. c 46 § 167; 1977 ex.s. c 308 § 7. Formerly RCW 75.48.070.] RCW 77.90.060Salmon enhancement construction bond retirement fund Created Purpose.The salmon enhancement construction bond retirement fund is created in the state treasury. This fund shall be exclusively devoted to the payment of interest on and retirement of the bonds authorized by this chapter. The state finance committee shall, on or before June 30th of each year, certify to the state treasurer the amount required in the next succeeding twelve months for the payment of the principal of and the interest coming due on the bonds. Not less than thirty days prior to the date on which the interest or principal and interest payment is due, the state treasurer shall withdraw from any general state revenues received in the state treasury and deposit in the salmon enhancement construction bond retirement fund an amount equal to the amount certified by the state finance committee to be due on such payment date. The owner and holder of each of the bonds or the trustee for any of the bonds may by mandamus or other appropriate proceeding require the transfer and payment of funds as directed herein.[1983 1st ex.s. c 46 § 168; 1977 ex.s. c 308 § 8. Formerly RCW 75.48.080.] RCW 77.90.070Availability of sufficient revenue required before bonds issued.The bonds authorized by this chapter shall be issued only after the director has certified, based upon reasonable estimates and data provided to the department, that sufficient revenues will be available from sport and commercial salmon license sales and from salmon fees and taxes to meet the requirements of RCW 77.90.060 during the life of the bonds.[2000 c 107 § 104; 1983 1st ex.s. c 46 § 170; 1977 ex.s. c 308 § 10. Formerly RCW 75.48.100.] RCW 77.90.080Bonds legal investment for public funds.The bonds authorized in this chapter are a legal investment for all state funds or for funds under state control and for all funds of any other public body.[1983 1st ex.s. c 46 § 171; 1977 ex.s. c 308 § 11. Formerly RCW 75.48.110.]

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