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approved general obligation indebtedness, equal to one-half of one <br />percent of the value of taxable property within the district, as the <br />term "value of taxable property" is defined in RCW 39.36.015. A public <br />facilities district additionally may issue general obligation bonds <br />for capital purposes only, together with any outstanding general <br />obligation indebtedness, not to exceed an amount equal to one and one- <br />fourth percent of the value of the taxable property within the <br />district, as the term "value of taxable property" is defined in RCW <br />39.36.015, when authorized by the voters of the public facilities <br />district pursuant to Article VIII, section 6 of the state <br />Constitution, and to provide for the retirement thereof by excess <br />property tax levies as provided in this chapter. <br />(2) General obligation bonds may be issued with a maturity of up <br />to thirty years, and must be issued and sold in accordance with the <br />provisions of chapter 39.46 RCW. If the public facilities district is <br />formed by a county with a population of one million five hundred <br />thousand or more to acquire, own, and operate a convention and trade <br />center, general obligation bonds may be issued with a maturity of up <br />to forty years, and must be issued and sold in accordance with the <br />provisions of chapter 39.46 RCW. In addition to the powers vested in <br />it under RCW 39.46.030, a public facilities district created by a <br />county with a population of one million five hundred thousand or more <br />to acquire, own, and operate a convention and trade center may <br />appoint, and may specify the rights and duties of, trustees with <br />respect to its bonds, and such trustees may receive, hold, disburse, <br />invest, and reinvest funds on the district's behalf and for the <br />protection of the district's bond owners. <br />(3) The general obligation bonds may be payable from the <br />operating revenues of the public facilities district in addition to <br />the tax receipts of the district. <br />(4) The excise tax imposed pursuant to RCW 36.100.040(1) <br />terminates upon final payment of all bonded indebtedness for its <br />public facilities, except that the excise tax may be reauthorized by a <br />public vote, in the same manner as originally authorized, for funding <br />of additional public facilities or a regional center. [2010 1st sp.s_ <br />c 15 § 6; 1999 c 165 § 15; 1995 1st sp.s. c 14 § 4; 1995 c 396 § 5; <br />1989 1st ex.s. c 8 § 5; 1988 ex.s. c 1 § 16.1 <br />Findings—Intent—Construction-2010 1st sp.s. c 15: See notes <br />following RCW 36.100.010. <br />Severability—Effective dates -1995 1st sp.s. c 14: See notes <br />following RCW 36.100.010. <br />Severability -1995 c 396: See note following RCW 36.100.010. <br />RCW 36.100.070 Acquisition and transfer of real and personal <br />property. A public facilities district may acquire and transfer real <br />and personal property by lease, sublease, purchase, or sale. [1988 <br />ex.s. c 1 § 17.] <br />RCW 36.100.080 Direct or collateral attack barred after thirty <br />days. No direct or collateral attack on any public facilities <br />district purported to be authorized or created in conformance with <br />[ 14 1 <br />