Pierce County v. State

¶1 — The issue in this case is whether Initiative Measure No. 776 (1-776) impairs bonds issued by the Central Puget Sound Regional Transit Authority (Sound Transit). Sound Transit was created to address traffic congestion in the central Puget Sound region. Pursuant to statute, Sound Transit was authorized to collect a motor vehicle excise tax (MVET) to finance a transportation system. In the years prior to passage of 1-776, Sound Transit issued and sold the bonds in the public debt market in order to obtain capital needed to build the first phase of the system. It pledged the revenue from the…