Full text of Washington Revised Code of Washington § 57.20.015 — Refunding general obligation bonds., with citation guidance and answers to common questions.
§ 57.20.015. Refunding general obligation bonds.
(1) The board of commissioners of any district may by resolution, without submitting the matter to the voters of the district, provide for the issuance of refunding general obligation bonds to refund any outstanding general obligation bonds, or any part thereof, at maturity thereof, or before the maturity thereof if they are subject to call for prior redemption or all of the owners thereof consent thereto. Refunding bonds may be combined with an issue of bonds for other district purposes, as long as those other bonds are approved in accordance with applicable law.
(2) The total cost to the district over the life of the refunding bonds or refunding portion of an issue of bonds shall not exceed the total cost to the district which the district would have incurred but for such refunding over the remainder of the life of the bonds to be refunded thereby.
(3) The refunding bonds may be exchanged for the bonds to be refunded thereby, or may be sold in such manner as the board of commissioners deems to be for the best interest of the district, and the proceeds of such sale used exclusively for the purpose of paying, retiring, and canceling the bonds to be refunded and interest thereon. Such bonds may be of any form, including bearer bonds or registered bonds as provided in RCW
39.46.030.
Notes
Part headings not law—Effective date—1996 c 230: See notes following RCW
57.02.001.
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.
Severability—Effective dates and termination dates—Construction—1973 1st ex.s. c 195: See notes following RCW
84.52.043.
Election to authorize revenue bonds: RCW
57.20.018.
Frequently Asked Questions About Washington § 57.20.015
What does Revised Code of Washington § 57.20.015 cover?
Section 57.20.015 ("Refunding general obligation bonds.") 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 § 57.20.015?
A common citation format is "Revised Code of Washington § 57.20.015" (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 § 57.20.015 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.
