Washington § 54.24.090 - Funding, refunding revenue obligations.

Full text of Washington Revised Code of Washington § 54.24.090 — Funding, refunding revenue obligations., with citation guidance and answers to common questions.

§ 54.24.090. Funding, refunding revenue obligations.

Whenever any district shall have outstanding any utility revenue obligations, the commission shall have power by resolution to provide for the issuance of funding or refunding revenue obligations with which to take up and refund such outstanding revenue obligations or any part thereof at the maturity thereof or before maturity if the same be by their terms or by other agreement subject to call for prior redemption, with the right in the commission to include various series and issues of such outstanding revenue obligations in a single issue of funding or refunding revenue obligations, and to issue refunding revenue obligations to pay any redemption premium payable on the outstanding revenue obligations being funded or refunded. Such funding or refunding revenue obligations shall be payable only out of a special fund created out of the gross revenues of such public utility, and shall only be a valid claim as against such special fund and the amount of the revenues of such utility pledged to such fund. Such funding or refunding revenue obligations shall in the discretion of the commission be exchanged at par for the revenue obligations which are being funded or refunded or shall be sold in such manner, at such price and at such rate or rates of interest as the commission shall deem for the best interest of the district. Said funding or refunding [revenue] obligations shall except as specifically provided in this section, be issued in accordance with the provisions with respect to revenue obligations in chapter 182, Laws of 1941 set forth.
[ 1970 ex.s. c 56 s 79; 1969 ex.s. c 232 s 84; 1959 c 218 s 10; 1941 c 182 s 8; Rem. Supp. 1941 c 11611-8.]

Notes

Purpose—1970 ex.s. c 56: See note following RCW 39.52.020.
Validation—Saving—Severability—1969 ex.s. c 232: See notes following RCW 39.52.020.

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

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Frequently Asked Questions About Washington § 54.24.090

What does Revised Code of Washington § 54.24.090 cover?

Section 54.24.090 ("Funding, refunding revenue obligations.") 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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Is this the official text of Washington law?

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