In the event of the failure of the lands within the local improvement district to furnish money sufficient for the payment of principal or interest of the bonds or the contract as provided for in RCW 87.03.485 for such local improvement work and there shall be a default in the payment of principal or interest as aforesaid, the amount delinquent shall be paid by the general warrants of the irrigation district at large or, in the event of a contract, by whatever means of payment is called for thereunder, but the lands of the local improvement district shall not thereby become released from liability for special assessment therefor. Such warrants, if issued, shall be redeemed as soon as there shall be available money in the bond redemption fund of the local improvement district.
RCW 87.03.500
Local improvement districts—Payment of bonds.
Applied in 2 court decisions — leading case Carlisle v. COLUMBIA IRR. DIST. (2010)
Most recently applied in Carlisle v. COLUMBIA IRR. DIST. (April 2010)
1970 ex.s. c 70 s 4; 1921 c 129 s 29; 1917 c 162 s 14; RRS s 7464
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.