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7413 - Debt Service Fund Policy

Policy 7413


Debt Service Fund
The fund is for the redemption of outstanding bonds and the payment of bond interest.  The fund is not a warrant fund.  Disbursements are made by the county treasurer by means of treasurer’s checks.

Provision shall be made annually for the making of a levy sufficient to meet the annual payments of principal and semiannual payments of interest.  The proceeds from the sale of real property may be placed in this fund or in the capital projects fund, except for the amount required to be expended for the costs associated with the sale of such property.



Legal References:       RCW   28A.320.330               School funds enumerated – Deposits in use
                                    RCW   39.44                           Bonds – Form, terms of sale, payment, etc.


Adoption Date:           July 23, 1996