State route number 99, deep bore tunnel—Tolls authorized—Eligible toll facility—Toll revenue—Toll rate schedule.
(1) The initial imposition of tolls on the portion of state route number 99 that is the deep bore tunnel under First Avenue from the vicinity of the sports stadiums in Seattle to Aurora Avenue north of the Battery Street tunnel is authorized, this portion of state route number 99 is designated an eligible toll facility, and toll revenue generated from this facility must only be expended as allowed under RCW 47.56.820.
(2) The toll imposed under this section must be charged only for travel on the portion of state route number 99 that is a deep bore tunnel.
(3)(a) In setting toll rates for the deep bore tunnel portion of state route number 99 pursuant to RCW 47.56.850, the tolling authority shall set a variable schedule of toll rates to maintain travel time, speed, and reliability on this facility and generate the necessary revenue as required under (b) of this subsection.
(b) The tolling authority may adjust the variable schedule of toll rates at least annually to reflect inflation as measured by the consumer price index to meet the redemption of bonds, to meet the obligations of the tolling authority under RCW 47.56.850, and interest payments on bonds and for those costs that are eligible under RCW 47.56.820.
[ 2012 c 83 s 2.]
NOTES:
Finding—Intent—2012 c 83: "The legislature finds that there is an urgent need to replace the central waterfront section of state route number 99, known as the Alaskan Way viaduct, because the viaduct is vulnerable to closure, damage, or catastrophic failure as a result of earthquakes or other events. In 2009, the legislature determined that the finance plan for the Alaskan Way viaduct replacement project should include no more than four hundred million dollars in toll funding for the project.
Therefore, it is the intent of the legislature to authorize tolling on the Alaskan Way viaduct replacement project, both to help finance the Alaskan Way viaduct replacement project and to help maintain travel time, speed, and reliability on the portion of state route number 99 that would be replaced by this project." [ 2012 c 83 s 1.]