AGO Opinion Topics: ISSUANCE PARCELS DEPENDING UPON ASSESSED VALUATIONS DURING 10 YEAR PERIOD

(1) A bond issue offered and sold in parcels during a 10 year period authorized by the electors depending upon increase in assessed valuation of the district would not be repugnant to section 5, Article VIII of the Constitution of Washington. (2) A state guarantee fund insuring payment of said bonds would not be repugnant to section 6, Article VIII of the constitution of Washington.