There is created in the City Treasury the special fund established by Chapter 209, Laws of Washington, 1927, RCW Chapter 35.54, and designated "Local Improvement Guaranty
Fund," for the purpose of guaranteeing, to the extent thereof and in the manner therein
contemplated, the payment of local improvement bonds and warrants and for paying the
amounts of assessments, the collection of which has been deferred pursuant to RCW
35.43.250, 35.50.050, and 35.54.100, as now existing or hereafter amended.
