AGO Opinion Topics: REVENUE BONDS

A port district and the Washington Toll Bridge Authority have the statutory authority to enter into an agreement for the acquisition of ferries whereby the port district will (1) purchase the ferries and lease them to the Washington Toll Bridge Authority; and (2) issue revenue bonds to finance the purchase, payable solely out of the rental received from leasing the ferries.

Cities of the third class may not use revenue derived from parking meters for redemption of bonds issued to acquire money to finance flood control improvements.