35.89.030 – Bonds exchange—Subrogation.
RCW 35.89.030 Bonds exchange—Subrogation. Water redemption bonds issued under the authority of this chapter shall only be sold or disposed of in exchange for an equal amount in par value of principal and interest of the local improvement district bonds issued for the construction of water systems taken over and operated by the city or […]
35.89.040 – Water redemption fund—Creation.
RCW 35.89.040 Water redemption fund—Creation. The city or town council before issuing water redemption bonds shall by ordinance establish a fund for the payment of the bonds at maturity and of interest thereon as it matures to be designated the water redemption fund. [ 1965 c 7 § 35.89.040. Prior: 1923 c 52 § 4; […]
35.89.050 – Water redemption fund—Sources.
RCW 35.89.050 Water redemption fund—Sources. Every city and town shall have power to regulate and control the use and price of water supplied through a water system taken over from a local improvement district. It shall establish such rates and charges for the water as shall be sufficient after providing for the operation and maintenance […]
35.89.060 – Water redemption fund—Trust fund.
RCW 35.89.060 Water redemption fund—Trust fund. All moneys paid into or collected for the water redemption fund shall be used for the payment of principal and interest of the water redemption bonds issued under the authority of this chapter and no part thereof while any of said bonds are outstanding and unpaid, shall be diverted […]
35.89.070 – Payment of interest on bonds.
RCW 35.89.070 Payment of interest on bonds. The treasurer of such city or town shall pay the interest on the water redemption bonds authorized by this chapter out of the money in the water redemption fund. [ 1965 c 7 § 35.89.070. Prior: 1923 c 52 § 6; RRS § 9154-6.]
35.89.080 – Payment of principal of bonds.
RCW 35.89.080 Payment of principal of bonds. Whenever there is sufficient money in the water redemption fund, over and above the amount that will be required to pay the interest on the bonds up to the time of maturity of the next interest payment, to pay the principal of one or more bonds, the city […]
35.89.090 – Violations—Penalties—Personal liability.
RCW 35.89.090 Violations—Penalties—Personal liability. Every ordinance, resolution, order, or action of the council, board, or officer of any city or town, and every warrant or other instrument made, issued, passed or done in violation of the provisions of this chapter shall be void. Every officer, agent, employee, or member of the council of the city […]
35.89.100 – Water systems—What included.
RCW 35.89.100 Water systems—What included. The term “water system” as used in this chapter shall include and be applicable to all reservoirs, storage and clarifying tanks, conduits, mains, laterals, pipes, hydrants and other equipment used or constructed for the purpose of supplying water for public or domestic use, and shall include not only water systems […]
35.89.010 – Authority to issue water redemption bonds.
RCW 35.89.010 Authority to issue water redemption bonds. If a public water system has been constructed within any local improvement district of any city or town for the construction of which bonds of the local improvement district were issued and are outstanding and unpaid, and if the city or town has taken over the system […]
35.89.020 – Bonds—Terms—Execution—Rights of owner.
RCW 35.89.020 Bonds—Terms—Execution—Rights of owner. (1) Water redemption bonds shall be in denominations of not more than one thousand nor less than one hundred dollars each, and shall bear interest at a rate or rates as authorized by the city or town council, payable semiannually, and shall bear a serial number and shall be signed […]