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| Home > Statutes > USA Washington |
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USA Statutes : washington
Title : Public recreational lands
Chapter : Outdoor recreational facilities
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RCW 79A.10.010General obligation bonds authorized.For the purpose of providing funds for the development of outdoor recreational facilities in the state, the state finance committee is hereby authorized to issue, at any time prior to January 1, 1970, general obligation bonds of the state of Washington in the sum of ten million dollars, or so much thereof as shall be required to finance the program for which these bonds are being authorized: PROVIDED, That funds realized from the sale of such bonds shall be used solely for the acquisition of land and attached appurtenances and such property shall be for outdoor recreational use. The state finance committee is authorized to prescribe the form of such bonds and the time of sale of all or any portion or portions of such bonds, and the conditions of sale and issuance thereof. The bonds shall pledge the full faith and credit of the state of Washington and contain an unconditional promise to pay the principal and interest when due. The committee may provide that the bonds, or any of them, may be called prior to the due date thereof under such terms and conditions as it may determine.[1965 c 8 § 43.98.010. Prior: 1963 ex.s. c 12 § 1. Formerly RCW 43.98.010.] RCW 79A.10.020Disposition of proceeds of sale.The proceeds from the sale of the bonds authorized herein shall be deposited in the parks and parkways account of the general fund or such other account or fund as shall be established for this purpose. Any agency or commission charged with the administration of the account or fund is authorized to use or permit the use of any funds derived from the sale of bonds authorized under this chapter as matching funds in any case where federal or other funds are made available on a matching basis for projects within the purposes of this chapter.[1965 c 8 § 43.98.020. Prior: 1963 ex.s. c 12 § 2. Formerly RCW 43.98.020.]Notes:Outdoor recreation account, deposit of proceeds in: RCW 79A.25.060.Parks and parkways account abolished: RCW 43.79.405. RCW 79A.10.030Bonds payable from proceeds of corporation fees.The bonds issued under the provisions of this chapter shall be payable from the proceeds of one-half of the corporation fees collected under all the provisions of chapter 70, Laws of 1937, as now or hereafter amended. The bonds and interest shall, so long as any portion thereof remains unpaid, constitute a prior and exclusive claim, subject only to amounts previously pledged for the payment of interest on and retirement of bonds heretofore issued, upon that portion of the corporation fees so collected.[1965 c 8 § 43.98.030. Prior: 1963 ex.s. c 12 § 3. Formerly RCW 43.98.030.]Notes:Reviser's note: Chapter 70, Laws of 1937 referred to above is affected by chapter 53, Laws of 1965 which enacts a new corporations code effective July 1, 1967 (Title 23A RCW). Section 166 thereof repeals it subject to the savings and continuation provision contained in section 165 which reads as follows: "Nothing contained in this act shall be construed as an impairment of any obligation of the state as evidenced by bonds held for any purpose, and subsections 2 and 13 of section 135, subsections 1 and 2 of section 136, and sections 137, 138, 139, 140, 141, 142, 146, and 147 shall be deemed to be a continuation of chapter 70, Laws of 1937, as amended, for the purpose of payment of: (1) world's fair bonds authorized by chapter 174, Laws of 1957 as amended by chapter 152, Laws of 1961, and (2) outdoor recreation bonds authorized by referendum bill number 11 (chapter 12, Laws of 1963 extraordinary session), approved by the people on November 3, 1964." RCW 79A.10.040Outdoor recreational bond redemption fund.The outdoor recreational bond redemption fund is hereby created in the state treasury, which fund shall be exclusively devoted to the payment of interest on and retirement of the bonds authorized by this chapter.[1965 c 8 § 43.98.040. Prior: 1963 ex.s. c 12 § 4. Formerly RCW 43.98.040.] RCW 79A.10.050Remedies of bondholders.The owner and holder of each of said bonds or the trustee for any of the bonds may by mandamus or other appropriate proceeding require and compel the transfer and payment of funds as directed herein.[1965 c 8 § 43.98.050. Prior: 1963 ex.s. c 12 § 5. Formerly RCW 43.98.050.] RCW 79A.10.060Legislature may provide additional means of support.The legislature may provide additional means for raising moneys for the payment of the interest and principal of the bonds authorized herein and this chapter shall not be deemed to provide an exclusive method for such payment.[1965 c 8 § 43.98.060. Prior: 1963 ex.s. c 12 § 6. Formerly RCW 43.98.060.] RCW 79A.10.070Bonds legal investment for funds of state and municipal corporations.The bonds herein authorized shall be a legal investment for all state funds or for funds under state control and all funds of municipal corporations.[1965 c 8 § 43.98.070. Prior: 1963 ex.s. c 12 § 7. Formerly RCW 43.98.070.] RCW 79A.10.090Consent of world fair bondholders prerequisite to issuance of bonds authorized by this chapter.No bonds authorized by this chapter shall be issued until there shall first be obtained and filed in the office of the state finance committee the written consent of the holders of all outstanding bonds issued under authority of chapter 174, Laws of 1957, as amended by chapter 152, Laws of 1961, to the changes effected by this chapter and the 1963 amendments of *RCW 43.31.620 and 43.31.740 in the order of priority of payment of said world fair bonds out of the proceeds of the corporation fees collected under chapter 70, Laws of 1937 as amended.[1965 c 8 §43.98.090 . Prior: 1963 ex.s. c 12 § 10. Formerly RCW 43.98.090.]Notes:Reviser's note: *(1) RCW 43.31.620 and 43.31.740 were decodified by 1985 c 466 § 75, effective June 30, 1985. (2) See note following RCW 79A.10.030.
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