RCW 43.160.070
Conditions. (Effective until July 1, 2009.)
Public facilities financial assistance, when authorized by the
board, is subject to the following conditions:
(1) The moneys in the public facilities construction loan
revolving account and the distressed county public facilities
construction loan account shall be used solely to fulfill
commitments arising from financial assistance authorized in this
chapter or, during the 1989-91 fiscal biennium, for economic
development purposes as appropriated by the legislature. The
total outstanding amount which the board shall dispense at any
time pursuant to this section shall not exceed the moneys
available from the accounts. The total amount of outstanding
financial assistance in Pierce, King, and Snohomish counties
shall never exceed sixty percent of the total amount of
outstanding financial assistance disbursed by the board under
this chapter without reference to financial assistance provided
under RCW 43.160.220.
(2) On contracts made for public facilities loans the board
shall determine the interest rate which loans shall bear. The
interest rate shall not exceed ten percent per annum. The board
may provide reasonable terms and conditions for repayment for
loans, including partial forgiveness of loan principal and
interest payments on projects located in rural counties or rural
natural resources impact areas, as the board determines. The
loans shall not exceed twenty years in duration.
(3) Repayments of loans made from the public facilities
construction loan revolving account under the contracts for
public facilities construction loans shall be paid into the
public facilities construction loan revolving account. Repayments of loans made from the distressed county public
facilities construction loan account under the contracts for
public facilities construction loans shall be paid into the
distressed county public facilities construction loan account. Repayments of loans from moneys from the new appropriation from
the public works assistance account for the fiscal biennium
ending June 30, 1999, shall be paid into the public works
assistance account.
(4) When every feasible effort has been made to provide
loans and loans are not possible, the board may provide grants
upon finding that unique circumstances exist.
[1999 c 164 § 104; 1998 c 321 § 27 (Referendum Bill No. 49, approved November 3, 1998); 1997 c 235 § 721; 1996 c 51 § 6; 1990 1st ex.s. c 16 § 802; 1983 1st ex.s. c 60 § 4; 1982 1st ex.s. c 40 § 7.]
NOTES:
Findings -- Intent -- Part headings and subheadings not law -- Effective date -- Severability -- 1999 c 164: See notes following RCW 43.160.010.
Purpose -- Severability -- 1998 c 321: See notes following RCW 82.14.045.
Contingent effective dates -- 1998 c 321 §§ 23-42: See note following RCW 35.58.410.
Severability -- Effective date--1997 c 235: See notes following RCW 79A.15.040.
Severability -- Effective dates -- 1996 c 51: See notes following RCW 43.160.010.
Severability -- 1990 1st ex.s. c 16: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [1990 1st ex.s. c 16 § 803.]
RCW 43.160.070
Conditions. (Effective July 1, 2009.)
Public facilities financial assistance, when authorized by the
board, is subject to the following conditions:
(1) The moneys in the public facilities construction loan
revolving account shall be used solely to fulfill commitments
arising from financial assistance authorized in this chapter.
The total outstanding amount which the board shall dispense at
any time pursuant to this section shall not exceed the moneys
available from the account.
(2) On contracts made for public facilities loans the board
shall determine the interest rate which loans shall bear. The
interest rate shall not exceed ten percent per annum. The board
may provide reasonable terms and conditions for repayment for
loans, including partial forgiveness of loan principal and
interest payments on projects located in rural communities as
defined by the board, or rural counties. The loans shall not
exceed twenty years in duration.
(3) Repayments of loans made from the public facilities
construction loan revolving account under the contracts for
public facilities construction loans shall be paid into the
public facilities construction loan revolving account.
Repayments of loans from moneys from the new appropriation from
the public works assistance account for the fiscal biennium
ending June 30, 1999, shall be paid into the public works
assistance account.
(4) When every feasible effort has been made to provide
loans and loans are not possible, the board may provide grants
upon finding that unique circumstances exist.
[2008 c 327 § 6; 1999 c 164 § 104; 1998 c 321 § 27 (Referendum Bill No. 49, approved November 3, 1998); 1997 c 235 § 721; 1996 c 51 § 6; 1990 1st ex.s. c 16 § 802; 1983 1st ex.s. c 60 § 4; 1982 1st ex.s. c 40 § 7.]
NOTES:
Effective date -- 2008 c 327 §§ 1, 2, 4-11, 17: See note following RCW 43.160.010.
Findings -- Intent -- Part headings and subheadings not law -- Effective date -- Severability -- 1999 c 164: See notes following RCW 43.160.010.
Purpose -- Severability -- 1998 c 321: See notes following RCW 82.14.045.
Contingent effective dates -- 1998 c 321 §§ 23-42: See note following RCW 35.58.410.
Severability -- Effective date--1997 c 235: See notes following RCW 79A.15.040.
Severability -- Effective dates -- 1996 c 51: See notes following RCW 43.160.010.
Severability -- 1990 1st ex.s. c 16: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [1990 1st ex.s. c 16 § 803.]