Section 47.60.570. Disposition of proceeds from sale of bonds.

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The proceeds from the sale of the bonds shall be deposited in the Puget Sound capital construction account of the motor vehicle fund and such proceeds shall be available only for the purposes enumerated in RCW 47.60.560, for the payment of bond anticipation notes, if any, and for the payment of the expense incurred in the drafting, printing, issuance, and sale of such bonds. The costs of obtaining insurance, letters of credit, or other credit enhancement devices with respect to the bonds shall be considered to be expenses incurred in the issuance and sale of the bonds.

[ 1986 c 290 § 9; 1977 ex.s. c 360 § 2.]

NOTES:
Severability—1977 ex.s. c 360: See note following RCW 47.60.560.

1986 c 290 § 9; 1977 ex.s. c 360 § 2.

                    
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