In accordance with the provisions of RCW 28B.50.340 the college 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 college board's capital projects account to the bond retirement fund when necessary to prevent a default in the payments required to be made; and (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.
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