Washington Code 47.56.904 – Interstate 5 bridge replacement project account
Current as of: 2023 | Check for updates
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(1) A special account to be known as the Interstate 5 bridge replacement project account is created in the state treasury.
Terms Used In Washington Code 47.56.904
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) Deposits to the account must include:
(a) All proceeds of bonds and loans issued on behalf of Washington state for the Interstate 5 bridge replacement project, including any capitalized interest;
(b) All net tolls and other revenues received from the operation of the Interstate 5 bridge replacement project as a toll facility;
(c) The Washington state portion of any interest that may be earned from the deposit or investment of those revenues;
(d) Notwithstanding RCW 47.12.063, the Washington state portion of proceeds from the sale of any surplus real property acquired for the Interstate 5 bridge replacement project; and
(e) The Washington state portion of all damages, liquidated or otherwise, collected under any contract involving the Interstate 5 bridge replacement project.
(3) Moneys in the account may be spent only after appropriation, consistent with RCW 47.56.820.
[ 2023 c 377 § 3.]