The board is hereby empowered: (1) To reserve the right to issue bonds later on a parity with any bonds being issued; (2) To authorize the investing of moneys in the bond retirement fund and any reserve account therein; (3) To authorize the transfer of money from the Washington State University building account to the bond retirement fund when necessary to prevent a default in the payments required to be made out of such fund; (4) To create a reserve account or accounts in the bond retirement fund to secure the payment of the principal of and interest on any bonds; (5) To authorize the transfer to the Washington State University building account of any money on deposit in the bond retirement fund in excess of debt service for a period of three years from the date of such transfer on all outstanding bonds payable out of such fund. However, during the 2021-2023 fiscal biennium, the legislature may transfer to the Washington State University building account moneys that are in excess of the debt service due within the 2021-2023 fiscal biennium from the date of such transfer on all outstanding bonds payable out of the bond retirement fund. However, during the 2023-2025 fiscal biennium, the legislature may transfer to the Washington State University building account moneys that are in excess of the debt service due within the 2023-2025 fiscal biennium from the date of such transfer on all outstanding bonds payable out of the bond retirement fund.
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