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AGO Opinions with Topic: REVENUE BONDS AND TIME WARRANTS
AGO 1958 No. 173 >  March 14, 1958
PORT DISTRICTS - REVENUE BONDS AND TIME WARRANTS - DISTRICTS OF LESS THAN 400,000 POPULATION - AUTHORITY TO PROVIDE FOR REDEMPTION OF REVENUE BONDS; SALE, NOTICE AND CALL FOR BIDS ON TIME WARRANTS; AUTHORITY TO PROVIDE FOR PAYMENT OF REVENUE BONDS OUT OF TAX REVENUE; AUTHORITY TO ISSUE TAX ANTICIPATION WARRANTS IN ADDITION TO REVENUE BONDS
PORT DISTRICTS ‑- REVENUE BONDS AND TIME WARRANTS ‑- DISTRICTS OF LESS THAN 400,000 POPULATION ‑- AUTHORITY TO PROVIDE FOR REDEMPTION OF REVENUE BONDS; SALE, NOTICE AND CALL FOR BIDS ON TIME... The provisions of chapter 53.40 RCW do not all apply alike to revenue bonds and time warrants of a port district. Under the provisions of chapter 53.40 RCW all port districts may provide for the redemption of revenue bonds solely out of the revenue of a particular facility.  It is not necessary to advertise and call for bids on sale of port district time warrants. Bonds and warrants issued under the provisions of chapter 53.40 RCW may not become a charge upon tax revenue, notwithstanding the use of the phrase "gross revenue" in RCW 53.40.040 (1957 Supp. ). Chapter 53.40 RCW (1957 Supp.) did not impliedly repeal all or any part of RCW 53.36.040, authorizing port districts to issue tax anticipation warrants.
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