Washington § 35.89.030 - Bonds exchange — Subrogation.

Full text of Washington Revised Code of Washington § 35.89.030 — Bonds exchange — Subrogation., with citation guidance and answers to common questions.

§ 35.89.030. Bonds exchange — Subrogation.

Water redemption bonds issued under the authority of this chapter shall only be sold or disposed of in exchange for an equal amount in par value of principal and interest of the local improvement district bonds issued for the construction of water systems taken over and operated by the city or town, or incorporated into or connected with a water system operated by it.
Upon the exchange of the water redemption bonds authorized by this chapter for local improvement district bonds the city or town shall be subrogated to all the rights of the owners and holders of such local improvement district bonds against the property of the local improvement district and against any person or corporation liable thereon.
Any money derived by the city or town from the sale or enforcement of such local improvement district bonds shall be paid into the city's water redemption fund.
[ 1965 c 7 s 35.89.030. Prior: 1923 c 52 s 3; RRS s 9154-3.]

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Frequently Asked Questions About Washington § 35.89.030

What does Revised Code of Washington § 35.89.030 cover?

Section 35.89.030 ("Bonds exchange — Subrogation.") 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 § 35.89.030?

A common citation format is "Revised Code of Washington § 35.89.030" (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 § 35.89.030 apply to my situation?

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