S-2371.1
SENATE BILL 5800
State of Washington
69th Legislature
2025 Regular Session
By Senators King and Liias
AN ACT Relating to authorizing bonds for transportation funding; amending RCW 47.10.879 ; adding new sections to chapter 47.10 RCW; and declaring an emergency.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. In order to provide funds necessary for the location, design, right-of-way, and construction of highway projects or improvements, there shall be issued and sold upon the request of the department of transportation a total of $7,000,000,000 of general obligation bonds of the state of Washington.
NEW SECTION. Sec. 2. Upon the request of the department of transportation, as appropriate, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds in this act in accordance with chapter 39.42 RCW. Bonds authorized by this act shall be sold in the manner, at time or times, in amounts, and at the price as the state finance committee shall determine. No bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.
The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.