1999 Legislation
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SENATE JOINT RESOLUTION NO. 103 – Public School Building Authority

SENATE JOINT RESOLUTION NO. 103

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Daily Data Tracking History



SJR103.....................................................by STATE AFFAIRS
PUBLIC SCHOOL BUILDING AUTHORITY - Proposes an amendment to the
Constitution of the State of Idaho by the addition of a new section to
authorize the legislature to enact laws authorizing the creation of a
public school building authority for the purpose of construction or
repairing school buildings.

03/16    Senate intro - 1st rdg - to printing
03/17    Rpt prt - to St Aff

Bill Text


SJR103


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fifth Legislature                 First Regular Session - 1999
                                                                        

                                      IN THE SENATE

                             SENATE JOINT RESOLUTION NO. 103

                                BY STATE AFFAIRS COMMITTEE

 1                                  A JOINT RESOLUTION
 2    PROPOSING AN AMENDMENT TO ARTICLE VIII, OF THE CONSTITUTION OF  THE  STATE  OF
 3        IDAHO,  RELATING TO PUBLIC INDEBTEDNESS AND SUBSIDIES BY THE ADDITION OF A
 4        NEW SECTION 6, ARTICLE VIII, TO AUTHORIZE THE LEGISLATURE  TO  ENACT  LAWS
 5        AUTHORIZING  THE  CREATION  OF  A  PUBLIC SCHOOL BUILDING AUTHORITY BY THE
 6        STATE TO ISSUE GENERAL OBLIGATION BONDS PAYABLE FROM THE REVENUES  OF  THE
 7        STATE FOR THE PURPOSE OF FINANCING PUBLIC SCHOOL CONSTRUCTION AND REMODEL-
 8        ING, TO REQUIRE LEGISLATIVE APPROVAL OF SPECIFIC PROJECTS AND TO PROVIDE A
 9        LIMITATION  OF  SEVEN  HUNDRED MILLION DOLLARS ON THE AMOUNT OF BONDS THAT
10        MAY BE ISSUED PURSUANT TO THIS SECTION; STATING THE QUESTION TO BE SUBMIT-
11        TED TO THE ELECTORATE; DIRECTING THE LEGISLATIVE COUNCIL  TO  PREPARE  THE
12        STATEMENTS  REQUIRED  BY LAW; AND DIRECTING THE SECRETARY OF STATE TO PUB-
13        LISH THE AMENDMENT AND ARGUMENTS AS REQUIRED BY LAW.

14    Be It Resolved by the Legislature of the State of Idaho:

15        SECTION 1.  That Article VIII, of the Constitution of the State  of  Idaho
16    be, and the same is hereby amended by the addition thereto of a  NEW SEC-
17    TION  ,  to  be  known and designated as Section 6, Article VIII, and to
18    read as follows:

19             SECTION 6.  PUBLIC SCHOOL BUILDING  AUTHORITY.  The  legislature
20        may  enact  laws authorizing the creation of a public school building
21        authority by the state to issue general obligation bonds in an amount
22        not to exceed seven hundred million dollars of varying  denominations
23        and  maturities  for the purpose of financing public school construc-
24        tion and remodeling and to apply the proceeds thereof in  the  manner
25        and  for the purposes heretofore or hereafter authorized by law, sub-
26        ject to the following limitations. The bonds issued by the  authority
27        shall be issued as a general obligation of the state payable from the
28        revenues  of  the  state. Bonds for a specific public school building
29        project or projects may be issued only after approval is given by the
30        state legislature by adoption of  a  concurrent  resolution  by  both
31        houses  of  the  legislature  specifically  approving such project or
32        projects. Bonds issued pursuant to this section may be issued only if
33        the issuer certifies that it reasonably believes  that  the  interest
34        paid  on the bonds or obligations will be exempt from income taxation
35        by the federal government.
36             Sections 1 and 2, of Article VIII shall not be  construed  as  a
37        limitation  upon  the authority granted by this section. The proceeds
38        of bonds issued pursuant to this section for the purpose of financing
39        the building of public school facilities shall be subject to audit by
40        the state. This section is supplemental to and shall not be construed
41        as a repeal of or limitation on any other authority lawfully exercis-
42        able under the constitution and laws of this state, including,  among
43        others,  any  existing  authority  to  issue revenue bonds or general


                                      2

 1        obligation bonds.

 2        SECTION 2.  The question to be submitted to the electors of the  State  of
 3    Idaho at the next general election shall be as follows:
 4        "Shall  Article VIII, of the Constitution of the State of Idaho be amended
 5    by the addition of a new Section 6, Article VIII, to authorize the legislature
 6    to enact laws authorizing the creation of a public school  building  authority
 7    by  the  state  to issue general obligation bonds payable from the revenues of
 8    the state for the purpose of financing public school construction and remodel-
 9    ing, to require legislative approval of specific projects, and  to  provide  a
10    limitation of seven hundred million dollars on the amount of bonds that may be
11    issued pursuant to this section?".

12        SECTION 3.  The Legislative Council is directed to prepare the statements
13    required by Section 67-453, Idaho Code, and file the same.

14        SECTION 4.  The Secretary of State is hereby directed to publish this pro-
15    posed constitutional amendment and arguments as required by law.

Statement of Purpose / Fiscal Impact


                       STATEMENT OF PURPOSE

                             RS 08856

The purpose of this legislation is to amend Article VIII,of the
Constitution of the State of Idaho by the addition of a new
Section 6, Article VIII, to authorize the Legislature to enact
laws authorizing the creation of a Public School Building
Authority. To allow for the funding of school facilities in a
manner which will allow for cost savings and property tax relief.

                                 
                           FISCAL NOTE

Negative physical impact due to tax savings.




CONTACT:  Senator John Sandy
          332-1305 office
          


STATEMENT OF PURPOSE/ FISCAL NOTE













                                                           SJR 103