Warrants drawing interest at a rate established by the issuing officer under the direction of the legislative authority of the city or town shall be issued against the local improvement guaranty fund to meet any liability accruing against it. The warrants so issued shall at no time exceed five percent of the outstanding obligations guaranteed by the fund.
RCW 35.54.090
Warrants against fund.
Applied in 1 court decision — leading case 70 Wash. 2d 475 - Berglund v. City of Tacoma (1967)
Most recently applied in 70 Wash. 2d 475 - Berglund v. City of Tacoma (February 1967)
1981 c 323 s 8; 1965 c 7 s 35.54.090
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.