Agency 346
Washington Higher
Education Facilities Authority
RCW 28B.07
The Washington Higher Education Facilities Authority issues tax-exempt,
nonrecourse revenue bonds and then lends the proceeds to qualified,
private, not-for-profit higher education institutions in the state,
pursuant to a loan and security agreement. Higher education institutions
may use the bond proceeds for construction, remodeling, equipment,
refinancing of debt, or any other approved purpose.
| Washington Higher Education Facilities Authority Trust Fund | ||
| The Washington Higher Education Authority Trust Fund is used to pay all expenses of the Authority. Authority revenues are derived from fees and charges to Authority higher education clients (based on the bond principal outstanding each year), appication fees, interest contributions, and grants. Funds may not be provided to the agency by the state of Washington. | ||
| Statement of Local Fund Balances
| ||||||||||||||
| 6/30/95 Fund Balance | 6/30/95 Estimated Fund Balance | 1997-1999 Estimated Revenues | 1997-1999 Estimated Expenditures | 6/30/99 Estimated Fund Balance | ||||||||||
| Non-Budgeted Funds | ||||||||||||||
| Washington Higher Education Facilities Authority Trust Fund | 573,000 | 575,000 | 200,000 | 200,000 | 575,000 | |||||||||