Washington § 47.12.220 - Additional financing methods for property and engineering costs — Provisions in agreement.

Full text of Washington Revised Code of Washington § 47.12.220 — Additional financing methods for property and engineering costs — Provisions in agreement., with citation guidance and answers to common questions.

§ 47.12.220. Additional financing methods for property and engineering costs — Provisions in agreement.

Each such agreement shall include, but shall not be limited to the following:
(1) A provision stating the term of the agreement which shall not extend more than seven years from the effective date of the agreement;
(2) A designation of the specific fund or funds to be used to carry out such agreement;
(3) A provision that the department of transportation may redeem warrants purchased by the state finance committee at any time prior to the letting of a highway improvement contract utilizing the property; and further, during the effective period of each such agreement the department of transportation shall redeem such warrants whenever such a highway improvement contract is let, or upon the expiration of such agreement, whichever date is earlier;
(4) A provision stating the rate of interest such warrants shall bear commencing at the time of purchase by the state finance committee;
(5) Any additional provisions agreed upon by the transportation commission and the state finance committee which are necessary to carry out the purposes of such agreement as indicated by RCW 47.12.180 through 47.12.240, as now or hereafter amended.
[ 1977 ex.s. c 151 s 56; 1969 ex.s. c 197 s 4; 1961 c 281 s 5.]

Notes

Severability—1961 c 281: See note following RCW 47.12.180.

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Frequently Asked Questions About Washington § 47.12.220

What does Revised Code of Washington § 47.12.220 cover?

Section 47.12.220 ("Additional financing methods for property and engineering costs — Provisions in agreement.") 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 § 47.12.220?

A common citation format is "Revised Code of Washington § 47.12.220" (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 § 47.12.220 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.