{"data":{"id":"us-wa/rcw-28b.20.396","jurisdiction":"us-wa","citation":"RCW 28B.20.396","heading":"University tract—Bonding authority.","body":"Bonds issued pursuant to the authority granted under RCW 28B.20.395:\n(1) Shall not constitute (a) an obligation, either general or special, of the state or (b) a general obligation of the University of Washington or of the board of regents;\n(2) Shall be:\n(a) Either in bearer form or in registered form as provided in RCW 39.46.030, and\n(b) Issued in denominations of not less than one hundred dollars;\n(3) Shall state:\n(a) The date of issue, and\n(b) The series of the issue and be consecutively numbered within the series, and\n(c) That the bond is payable only out of a special fund established for the purpose, and designate the fund;\n(4) Shall bear interest, payable either annually, or semiannually as the board of regents may determine;\n(5) Shall be payable solely out of:\n(a) Revenue derived from operating, managing and leasing the university tract, and\n(b) A special fund, created by the board of regents for the purpose, consisting either of (i) a fixed proportion, or (ii) a fixed amount out of and not exceeding a fixed proportion, or (iii) a fixed amount without regard to any fixed proportion, of the revenue so derived;\n(6) May contain covenants by the board of regents in conformity with the provisions of RCW 28B.20.398(2);\n(7) Shall be payable at such times over a period of not to exceed thirty years, in such manner and at such place or places as the board of regents determines;\n(8) Shall be executed in such manner as the board of regents by resolution determines;\n(9) Shall be sold in such manner as the board of regents deems for the best interest of the University of Washington;\n(10) May be issued under chapter 39.46 RCW.","path":["Title 28B","Chapter 28B.20"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=28B.20.396","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T01:52:05Z","sha256":"967405498b6a50ec83b32008f9d509893b7a20dd157b07ee55643d3c7b4baf5a","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-28b.20.395","next":"us-wa/rcw-28b.20.398"},"notice":"GroundRules: Original legal text. Not legal advice."}