AGO Opinion Topics: REVENUE BONDS AND TIME WARRANTS

The provisions of chapter 53.40 RCW do not all apply alike to revenue bonds and time warrants of a port district. Under the provisions of chapter 53.40 RCW all port districts may provide for the redemption of revenue bonds solely out of the revenue of a particular facility.  It is not necessary to advertise and call for bids on sale of port district time warrants. Bonds and warrants issued under the provisions of chapter 53.40 RCW may not become a charge upon tax revenue, notwithstanding the use of the phrase "gross revenue" in RCW 53.40.040 (1957 Supp. ). Chapter 53.40 RCW (1957 Supp.) did not impliedly repeal all or any part of RCW 53.36.040, authorizing port districts to issue tax anticipation warrants.