(1) For bonds issued under the authority of this section and RCW 47.10.920, 47.10.923, and 47.10.926, the state treasurer shall first withdraw toll revenue from the Interstate 5 bridge replacement project account, and, to the extent toll revenue is not available, excise taxes on fuel and vehicle-related fees and deposit in the Interstate 5 bridge replacement project toll facility bond retirement account, or a special subaccount in the account, such amounts, and at such times, as are required by the bond proceedings.

(2) Any excise taxes on fuel and vehicle-related fees required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.920, 47.10.923, and 47.10.926 must be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on fuel and vehicle-related fees and which is, or may be, appropriated to the department for state highway purposes. Funds required must never constitute a charge against any other allocations of fuel tax and vehicle-related fee revenues to the state, counties, cities, and towns unless the amount arising from excise taxes on fuel and vehicle-related fees distributed to the state in the motor vehicle fund proves insufficient to meet the requirements for bond retirement or interest on any such bonds.

(3) Any payments for bond retirement or interest on the bonds taken from allocations of other revenues from the fuel taxes and vehicle-related fees that are distributable to the state, counties, cities, and towns must be repaid from available toll revenue in the manner provided in the bond proceedings or, if toll revenue is not available for that purpose, from the first revenues from the excise taxes on fuel and vehicle-related fees distributed to the motor vehicle fund not required for bond retirement or interest on the bonds. Any excise taxes on fuel and vehicle-related fees required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.920, 47.10.923, and 47.10.926 must be reimbursed to the motor vehicle fund from toll revenue in the manner and with the priority specified in the bond proceedings.

Finding—Intent—2025 c 400: See note following RCW 47.10.920.