RCW 57.20.110Limitation of indebtedness.A district is authorized and empowered by and through its board of commissioners to contract indebtedness for its purposes, and the maintenance thereof not exceeding one-half of one percent of the value of the taxable property in the district, as the term 'value of the taxable property' is defined in RCW 39.36.015.[ 1996 c 230 s 713; 1970 ex.s. c 42 s 35; 1929 c 114 s 19; RRS s 11596. Cf. 1913 c 161 s 18.]NOTES:Part headings not law—Effective date—1996 c 230: See notes following RCW 57.02.001.Severability—Effective date—1970 ex.s. c 42: See notes following RCW 39.36.015.Limitation on municipal corporation indebtedness: State Constitution Art. 8 s 6.
Washington Legal Code