Modifies the maximum term of regional transit authority bond issues in Washington.
This bill modifies the maximum terms of regional transit authority bond issues in Washington. It allows authorities to issue revenue bonds with a maximum term of 75 years, but if they issue any revenue bonds with a term greater than 40 years, they become ineligible for regional mobility grant program funds. The bill also amends existing laws to clarify the conditions under which authorities can issue general obligation bonds, limiting them to five percent of the value of taxable property within the authority's boundaries.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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