Olympia, Wa. – Initiative 976, which was approved by voters on November 6, 2019 will have a variety of impacts on the state. However, one thing that I’d like to make clear is that Sound Transit’s bonds are special limited obligations of Sound Transit; they are not obligations of the state of Washington or any political subdivision thereof other than Sound Transit. The state of Washington has no financial responsibility with respect to Sound Transit’s bonds.
Regarding the state’s bonds, the impact is limited, as described in the following official informational filing that my staff posted to EMMA – the official source for municipal securities data and documents: