Washington § 28B.07.060 - Bonds — Special obligations — Payment — Funds — Segregation of proceeds and moneys.

Full text of Washington Revised Code of Washington § 28B.07.060 — Bonds — Special obligations — Payment — Funds — Segregation of proceeds and moneys., with citation guidance and answers to common questions.

§ 28B.07.060. Bonds — Special obligations — Payment — Funds — Segregation of proceeds and moneys.

Bonds issued under this chapter shall not be deemed to constitute obligations, either general or special, of the state or of any political subdivision of the state, or a pledge of the faith and credit of the state or of any political subdivision, or a general obligation of the authority. The bonds shall be special obligations of the authority and shall be payable solely from the special fund or funds created by the authority in the bond resolution or trust indenture pursuant to which the bonds were issued. The fund or funds shall be funded in whole or in part from moneys paid by one or more participants for whose benefit the bonds were issued, from the sources, if any, under RCW 28B.07.040(9), or from the proceeds of bonds issued by the authority for the purpose of refunding any outstanding bonds of the authority. The issuance of bonds under this chapter shall not obligate, directly, indirectly, or contingently, the state or any political subdivision of the state to levy any taxes or appropriate or expend any funds for the payment of the principal or the interest on the bonds.
Neither the proceeds of bonds issued under this chapter, any moneys used or to be used to pay the principal of or interest on the bonds, nor any moneys received by the authority to defray its administrative costs shall constitute public money or property. All of such moneys shall be kept segregated and set apart from funds of the state and any political subdivision of the state and shall not be subject to appropriation or allotment by the state or subject to the provisions of chapter 43.88 RCW.
[ 1983 c 169 s 6.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 28B.07.060

What does Revised Code of Washington § 28B.07.060 cover?

Section 28B.07.060 ("Bonds — Special obligations — Payment — Funds — Segregation of proceeds and moneys.") 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.

How do I cite Washington § 28B.07.060?

A common citation format is "Revised Code of Washington § 28B.07.060" (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.

How does Washington § 28B.07.060 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

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