Washington § 39.53.020 - Issuance authorized — Purposes — Saving to public body, criteria.

Full text of Washington Revised Code of Washington § 39.53.020 — Issuance authorized — Purposes — Saving to public body, criteria., with citation guidance and answers to common questions.

§ 39.53.020. Issuance authorized — Purposes — Saving to public body, criteria.

The governing body of any public body may by ordinance provide for the issuance of refunding bonds without an election (1) in order to pay or discharge all or any part of an outstanding series or issue of bonds, including any redemption premiums or interest thereon, in arrears or about to become due, and for which sufficient funds are not available, (2) when necessary or in the best interest of the public body to modify debt service or reserve requirements, sources of payment, covenants, or other terms of the bonds to be refunded, or (3) in order to effect a saving to the public body. To determine whether or not a saving will be effected, consideration shall be given to the interest to fixed maturities of the refunding bonds and the bonds to be refunded, the costs of issuance of the refunding bonds, including any sale discount, the redemption premiums, if any, to be paid, and the known earned income from the investment of the refunding bond proceeds pending redemption of the bonds to be refunded.
[ 1999 c 230 s 2; 1977 ex.s. c 262 s 1; 1974 ex.s. c 111 s 2; 1965 ex.s. c 138 s 3.]

Notes

Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.
Severability—1974 ex.s. c 111: See note following RCW 39.42.080.

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

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Frequently Asked Questions About Washington § 39.53.020

What does Revised Code of Washington § 39.53.020 cover?

Section 39.53.020 ("Issuance authorized — Purposes — Saving to public body, criteria.") 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 § 39.53.020?

A common citation format is "Revised Code of Washington § 39.53.020" (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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