The board is hereby empowered:

     (1) To reserve the right to issue bonds later on a parity with any bonds being issued;

     (2) To authorize the investing of moneys in the bond retirement fund and any reserve account therein;

     (3) To authorize the transfer of money from the University of Washington building account to the bond retirement fund when necessary to prevent a default in the payments required to be made out of such fund;

     (4) To create a reserve account or accounts in the bond retirement fund to secure the payment of the principal of and interest on any bonds;

     (5) To authorize the transfer to the University of Washington building account of any money on deposit in the bond retirement fund in excess of debt service for a period of three years from the date of such transfer on all outstanding bonds payable out of such fund.

[1969 ex.s. c 223 § 28B.20.725. Prior: 1959 c 193 § 6. Formerly RCW 28.77.545.]

NOTES:

1977 Bond act for the refunding of outstanding limited obligation revenue bonds of institutions of higher education, as affecting: RCW 28B.14C.080 through 28B.14C.130.