2005 Washington Revised Code RCW 43.340.120: Tobacco securitization trust account.
The state treasurer shall deposit the proceeds of the sale of revenue under this chapter into the tobacco securitization trust account hereby created and held in the custody of the state treasurer. Moneys in the tobacco securitization trust account shall be subject to such appropriations and transfers as may be provided by law and shall be used for capital expenditures, debt service on outstanding bonds of the state, or for other purposes as permitted by law. The sales agreement under this chapter shall provide for the state to allocate the use of proceeds of the bonds issued by the authority to enable interest on all or a portion of the bonds to be excluded from income for federal tax law purposes.
[2002 c 365 § 13.]
Disclaimer: These codes may not be the most recent version. Washington may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
