Washington § 43.163.080 - General operating procedures.

Full text of Washington Revised Code of Washington § 43.163.080 — General operating procedures., with citation guidance and answers to common questions.

§ 43.163.080. General operating procedures.

(1) The authority shall adopt general operating procedures for the authority. The authority shall also adopt operating procedures for individual programs as they are developed for obtaining funds and for providing funds to borrowers. These operating procedures shall be adopted by resolution prior to the authority operating the applicable programs.
(2) The operating procedures shall include, but are not limited to: (a) Appropriate minimum reserve requirements to secure the authority's bonds and other obligations; (b) appropriate standards for securing loans and other financing the authority provides to borrowers, such as guarantees or collateral; and (c) strict standards for providing financing to borrowers, such as (i) the borrower is a responsible party with a high probability of being able to repay the financing provided by the authority, (ii) the financing is reasonably expected to provide economic growth or stability in the state by enabling a borrower to increase or maintain jobs or capital in the state, (iii) the borrowers with the greatest needs or that provide the most public benefit are given higher priority by the authority, and (iv) the financing is consistent with any plan adopted by the authority under RCW 43.163.090.
[ 1994 c 238 s 2; 1990 c 53 s 5; 1989 c 279 s 9.]

Notes

Severability—Effective date—1994 c 238: See notes following RCW 43.163.010.

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Frequently Asked Questions About Washington § 43.163.080

What does Revised Code of Washington § 43.163.080 cover?

Section 43.163.080 ("General operating procedures.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

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A common citation format is "Revised Code of Washington § 43.163.080" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

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Sources & Verification

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