The principal and interest of such general bonds shall be paid by levying each year a tax upon the taxable property within the district sufficient, together with other revenues of the district available for such purpose, to pay said interest and principal of said bonds, which tax shall be due and collectible as any other tax. All bonds and warrants issued under the authority of this chapter shall be legal securities, which may be used by any bank or trust company for deposit with the state treasurer, or any county or city treasurer, as security for deposits, in lieu of a surety bond, under any law relating to deposits of public moneys.
RCW 70.44.130
Bonds—Payment—Security for deposits.
Applied in 1 court decision — leading case Public Hospital District No. 1 v. Department of Social & Health Services (1985)
Most recently applied in Public Hospital District No. 1 v. Department of Social & Health Services (December 1985)
1984 c 186 s 61; 1971 ex.s. c 218 s 3; 1945 c 264 s 14; Rem
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.