Washington § 47.60.420 - Additional revenue bonds, refunding bonds, authorized, 1961 Act — Prior charge against Puget Sound capital construction account if ferry system revenues insufficient.

Full text of Washington Revised Code of Washington § 47.60.420 — Additional revenue bonds, refunding bonds, authorized, 1961 Act — Prior charge against Puget Sound capital construction account if ferry system revenues insufficient., with citation guidance and answers to common questions.

§ 47.60.420. Additional revenue bonds, refunding bonds, authorized, 1961 Act — Prior charge against Puget Sound capital construction account if ferry system revenues insufficient.

To the extent that all revenues from the Washington state ferry system available therefor are insufficient to provide for the payment of principal and interest on the bonds authorized and issued under RCW 47.60.400 through * 47.60.450 and for sinking fund requirements established with respect thereto and for payment into such reserves as the department has established with respect to the securing of the bonds, there is imposed a first and prior charge against the Puget Sound capital construction account of the motor vehicle fund created by RCW 47.60.505 and, to the extent required, against all revenues required by RCW 46.68.090 to be deposited in the Puget Sound capital construction account.
To the extent that the revenues from the Washington state ferry system available therefor are insufficient to meet required payments of principal and interest on bonds, sinking fund requirements, and payments into reserves, the department shall use moneys in the Puget Sound capital construction account for such purpose.
[ 1999 c 269 s 15; 1990 c 42 s 407; 1986 c 66 s 4; 1984 c 7 s 330; 1961 ex.s. c 9 s 3.]

Notes

*Reviser's note: RCW 47.60.450 was repealed by 2005 c 335 s 5.
Effective date—1999 c 269: See note following RCW 36.78.070.
Purpose—Effective dates—Application—Implementation—1990 c 42: See notes following RCW 46.68.090.
Effective date—1986 c 66: See note following RCW 47.60.400.

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

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What does Revised Code of Washington § 47.60.420 cover?

Section 47.60.420 ("Additional revenue bonds, refunding bonds, authorized, 1961 Act — Prior charge against Puget Sound capital construction account if ferry system revenues insufficient.") 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.

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