RCW 39.112.010 Definitions. The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) “Assessed value” means the valuation of taxable real property as placed on the last completed assessment roll. (2) “Bond” means a bond, note, or other evidence of indebtedness, including but not limited to a lease-purchase agreement […]
RCW 39.112.020 Conditions for using state land improvement financing. A city may finance public improvements using state land improvement financing subject to the following conditions: (1) The city has adopted an ordinance designating a state land improvement financing area within its boundaries and specified the public improvements proposed to be financed in whole or in […]
RCW 39.112.030 Procedures for creating a state land improvement financing area. Before adopting an ordinance creating the state land improvement financing area, a city must: (1) Provide written notice of a public hearing to each taxing jurisdiction that levies regular property taxes in the state land improvement financing area, publish notice of the public hearing […]
RCW 39.112.040 Public notice—Notice to officials. The city must: (1) Publish notice in a legal newspaper of general circulation within the state land improvement financing area that describes the public improvement, describes the boundaries of the state land improvement financing area, and identifies the location and times where the ordinance and other public information concerning […]
RCW 39.112.050 Limitations on state land improvement financing areas. A state land improvement financing area is subject to the following limitations: (1) A state land improvement financing area is limited to contiguous tracts, lots, pieces, or parcels of land without the creation of islands of property not included in the state land improvement financing area. […]
RCW 39.112.060 Apportionment of revenues. (1) Commencing in the calendar year following the passage of the ordinance, the county treasurer must distribute receipts from regular taxes imposed on real property located in the state land improvement financing area to the city. (2) The city may agree to receive less than the full amount of the […]
RCW 39.112.070 General indebtedness—Requirements. (1) A city creating a state land improvement financing area and authorizing the use of state land improvement financing may incur general indebtedness, including issuing general obligation bonds, to finance the public improvements and retire the indebtedness in whole or in part from state land improvement financing it receives, subject to […]
RCW 39.112.080 Use of tax revenue for bond repayment. A city that issues bonds issued under RCW 39.112.070 to finance public improvements may pledge for the payment of such bonds all or part of any regular property tax revenues derived from the public improvements. [ 2016 c 192 § 8.]
RCW 39.112.090 Limitation on bonds issued. The bonds issued by a city under RCW 39.112.070 to finance public improvements do not constitute an obligation of the state of Washington, either general or special. [ 2016 c 192 § 9.]
