CITIES AND TOWNS - CONTRACTS - EXECUTION OF A CONDITIONAL SALES CONTRACT The phrase "one and one half percent of the taxable property," as used in § 1, chapter 92, Laws of 1963 (RCW 39.30.010), authorizing executory conditional sales contracts for the purchase of property by certain municipalities including cities and towns, refers to the actual value of the taxable property located within the contracting municipality rather than to the assessed valuation of such taxable property.