Washington · statute · Wash. Rev. Code ch. 39.112 · 9 active provisions
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 l…
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 part with the use…
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 in a legal newspaper of general ci…
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 informati…
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.(2) The public improvements…
(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 regular property taxes…
(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…
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.
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.