Chapter 5 – Business and Finance

5.20.03 – Use of Debt

Community Colleges of Spokane may incur debt in accordance with RCW 28B.50.140 (6) and chapter 39.94 RCW.  CCS debt shall be effectively managed to insure adequate resources are available to meet debt service requirements of short-term and long-term indebtedness. CCS shall not incur debt or borrow money which will cause the aggregate debt contracted by CCS to exceed that amount for which payments of principal and interest in any fiscal year would require CCS to expend more than seven percent of the average general operating revenues for the three immediately preceding fiscal years.

[Adopted 02/17/04; Amended 11/15/05; effective 01/01/06]

5.20.03 Administrative Procedures

 

  1. Use of Debt