Wash. Admin. Code § 468-270-045 - Which Tacoma Narrows Bridge costs may be paid with toll revenues?

Costs that may be paid with toll revenues must directly relate to the Tacoma Narrows Bridge and may include costs related to debt service, operations, maintenance, insurance and management. The commission will review detailed financial information including quarterly reports on toll expenditures as provided by the department to determine the appropriate costs to be paid with toll revenues. Determinations will, at a minimum, be based upon the costs allowed under current law, including RCW 47.46.100, 47.46.110, 47.46.140, 47.56.165, and 47.56.245 which include:

(1) Maintenance, operations, repairs, insurance, and management;

(2) Debt service payments on bonds issued, financing, and costs associated with complying with all financial and other covenants made by the state in the bond proceedings; and

(3) Obligations to reimburse the motor vehicle fund for excise taxes on motor vehicle and special fuels applied to the payment of bonds issued for eligible toll facilities.

Notes

Wash. Admin. Code § 468-270-045

Statutory Authority: RCW 47.46.100(1) and (2), 47.46.105(1), 47.56.030(1)(b), 47.56.795(6), and 47.56.165(4). 11-04-070, § 468-270-045, filed 1/28/11, effective 12/3/11 at 12:00 a.m. per WSR 11-24-042.