Washington § 28B.07.080 - Moneys deemed trust funds — Agreement or trust indenture with bank or trust company authorized.

Full text of Washington Revised Code of Washington § 28B.07.080 — Moneys deemed trust funds — Agreement or trust indenture with bank or trust company authorized., with citation guidance and answers to common questions.

§ 28B.07.080. Moneys deemed trust funds — Agreement or trust indenture with bank or trust company authorized.

All moneys received by or on behalf of the authority under this chapter, whether as proceeds from the sale of bonds or from participants or from other sources shall be deemed to be trust funds to be held and applied solely as provided in this chapter. The authority, in lieu of receiving and applying the moneys itself, may enter into an agreement or trust indenture with one or more banks or trust companies having the power and authority to conduct trust business in the state to:
(1) Perform all of any part of the obligations of the authority with respect to: (a) Bonds issued by it; (b) the receipt, investment, and application of the proceeds of the bonds and moneys paid by a participant or available from other sources for the payment of the bonds; (c) the enforcement of the obligations of a participant in connection with the financing or refinancing of any project; and (d) other matters relating to the exercise of the authority's powers under this chapter;
(2) Receive, hold, preserve, and enforce any security interest or evidence of security interest granted by a participant for purposes of securing the payment of the bonds; and
(3) Act on behalf of the authority or the holders or owners of bonds of the authority for purposes of assuring or enforcing the payment of the bonds, when due.
[ 1983 c 169 s 8.]

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

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Frequently Asked Questions About Washington § 28B.07.080

What does Revised Code of Washington § 28B.07.080 cover?

Section 28B.07.080 ("Moneys deemed trust funds — Agreement or trust indenture with bank or trust company authorized.") 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.07.080?

A common citation format is "Revised Code of Washington § 28B.07.080" (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.

How does Washington § 28B.07.080 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

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.