Washington § 39.53.050 - Refunding bonds, principal amount — Disposition of reserves held to secure the bonds to be refunded.

Full text of Washington Revised Code of Washington § 39.53.050 — Refunding bonds, principal amount — Disposition of reserves held to secure the bonds to be refunded., with citation guidance and answers to common questions.

§ 39.53.050. Refunding bonds, principal amount — Disposition of reserves held to secure the bonds to be refunded.

The principal amount of refunding bonds may exceed the principal amount of the bonds to be refunded by an amount deemed reasonably required to effect such refunding. The principal amount of the refunding bonds may be less than or the same as the principal amount of the bonds to be refunded so long as provision is duly and sufficiently made for the retirement or redemption of such bonds to be refunded. Any reserves held to secure the bonds to be refunded, or other available money, may be used to accomplish the refunding in accordance with the refunding plan. Reserves not so used shall be pledged as security for the refunding bonds to the extent the reserves, if any, are required. The balance of any such reserves may be used for any lawful purpose.
[ 1999 c 230 s 5; 1983 1st ex.s. c 69 s 1; 1977 ex.s. c 262 s 3; 1974 ex.s. c 111 s 3; 1965 ex.s. c 138 s 6.]

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 § 39.53.050

What does Revised Code of Washington § 39.53.050 cover?

Section 39.53.050 ("Refunding bonds, principal amount — Disposition of reserves held to secure the bonds to be refunded.") 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 § 39.53.050?

A common citation format is "Revised Code of Washington § 39.53.050" (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 § 39.53.050 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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