Washington § 54.16.070 - District may borrow money, contract indebtedness, issue bonds or obligations — Guaranty fund.

Full text of Washington Revised Code of Washington § 54.16.070 — District may borrow money, contract indebtedness, issue bonds or obligations — Guaranty fund., with citation guidance and answers to common questions.

§ 54.16.070. District may borrow money, contract indebtedness, issue bonds or obligations — Guaranty fund.

(1) A district may contract indebtedness or borrow money for any corporate purpose on its credit or on the revenues of its public utilities, and to evidence such indebtedness may issue general obligation bonds or revenue obligations; may issue and sell local utility district bonds of districts created by the commission, and may purchase with surplus funds such local utility district bonds, and may create a guaranty fund to insure prompt payment of all local utility district bonds. The general obligation bonds shall be issued and sold in accordance with chapter 39.46 RCW. A district is authorized to establish lines of credit or make other prearranged agreements, or both, to borrow money with any financial institution.
(2) Notwithstanding subsection (1) of this section, such revenue obligations and local utility district bonds may be issued and sold in accordance with chapter 39.46 RCW.
[ 1991 c 74 s 1; 1984 c 186 s 44; 1983 c 167 s 144; 1959 c 218 s 1; 1955 c 390 s 8. Prior: 1945 c 143 s 1(f); 1931 c 1 s 6(f); Rem. Supp. 1945 s 11610(f).]

Notes

Purpose—1984 c 186: See note following RCW 39.46.110.
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.

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

Related Washington Legal Topics

Frequently Asked Questions About Washington § 54.16.070

What does Revised Code of Washington § 54.16.070 cover?

Section 54.16.070 ("District may borrow money, contract indebtedness, issue bonds or obligations — Guaranty fund.") 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 § 54.16.070?

A common citation format is "Revised Code of Washington § 54.16.070" (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 § 54.16.070 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.