Print Friendly SENATE BILL NO. 1536 – Agricultural facilities, loans
SENATE BILL NO. 1536
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S1536......................................................by STATE AFFAIRS
AGRICULTURAL FACILITIES - Amends existing law to authorize the Idaho
Housing and Finance Association to make loans for agricultural facilities.
02/29 Senate intro - 1st rdg - to printing
03/01 Rpt prt - to St Aff
03/07 Rpt out - rec d/p - to 2nd rdg
03/08 2nd rdg - to 3rd rdg
03/14 3rd rdg - PASSED - 25-7-3
AYES--Andreason, Boatright, Branch, Bunderson, Burtenshaw, Cameron,
Danielson, Darrington, Deide, Dunklin, Frasure, Geddes, Hawkins,
Keough, McLaughlin, Noh, Richardson, Riggs, Risch, Sandy, Schroeder,
Sorensen, Thorne, Wheeler, Williams
NAYS--Crow, Davis, Ipsen, Lee, Stegner, Stennett, Whitworth
Absent and excused--Ingram, King-Barrutia, Parry
Floor Sponsor - Sandy
Title apvd - to House
03/15 House intro - 1st rdg - to Agric Aff
03/21 Rpt out - rec d/p - to 2nd rdg
03/22 2nd rdg - to 3rd rdg
03/30 3rd rdg - PASSED - 61-0-9
AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Boe, Bruneel,
Callister, Campbell, Chase, Cheirrett, Clark, Crow, Cuddy, Deal,
Denney, Ellsworth, Field(13), Field(20), Gagner, Geddes, Hadley,
Hansen(23), Hansen(29), Henbest, Hornbeck, Jaquet, Jones(Jones),
Judd, Kellogg, Kempton, Kendell, Kunz, Lake, Linford, Loertscher,
Mader, Marley, Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce,
Pomeroy, Ridinger, Ringo, Robison, Sali, Sellman, Shepherd, Smith,
Smylie, Stevenson, Stoicheff, Stone, Tilman, Trail, Wheeler, Wood,
NAYS -- None
Absent and excused -- Black, Gould, Hammond, McKague, Pischner,
Reynolds, Schaefer, Taylor, Mr Speaker
Floor Sponsor - Chase
Title apvd - to Senate
03/31 To enrol
04/03 Rpt enrol - Pres signed - Sp signed
04/04 To Governor
04/14 Governor signed
Session Law Chapter 364
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fifth Legislature Second Regular Session - 2000
IN THE SENATE
SENATE BILL NO. 1536
BY STATE AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO THE IDAHO HOUSING AND FINANCE ASSOCIATION; AMENDING SECTION
3 67-6201, IDAHO CODE, TO INCLUDE ASSISTANCE TO BEGINNING FARMERS AND
4 RANCHERS FOR AGRICULTURAL FACILITIES AS PUBLIC PURPOSES; AMENDING SECTION
5 67-6205, IDAHO CODE, TO PROVIDE AN ADDITIONAL DEFINITION AND TO MAKE TECH-
6 NICAL CORRECTIONS; AMENDING SECTION 67-6206, IDAHO CODE, TO PROVIDE POWERS
7 RELATING TO THE FINANCING OF AGRICULTURAL FACILITIES; AMENDING SECTION
8 67-6207A, IDAHO CODE, TO PROVIDE FOR LOANS FOR AGRICULTURAL FACILITIES;
9 AMENDING SECTION 67-6223, IDAHO CODE, TO PROVIDE FOR AUTHORITY TO RECEIVE
10 STATE OR FEDERAL ASSISTANCE FOR AGRICULTURAL FACILITIES AND FOR COOPERA-
11 TION WITH THE IDAHO DEPARTMENT OF AGRICULTURE; AND DECLARING AN EMERGENCY.
12 Be It Enacted by the Legislature of the State of Idaho:
13 SECTION 1. That Section 67-6201, Idaho Code, be, and the same is hereby
14 amended to read as follows:
15 67-6201. PURPOSE. It is hereby declared:
16 (a) That within the state there is a shortage of safe or sanitary dwell-
17 ing accommodations available which persons of low incomes can afford and that
18 such persons are forced to occupy overcrowded and congested dwelling accommo-
19 dations; that the aforesaid conditions cause an increase in and spread of dis-
20 ease and crime, and constitute a menace to the health, safety, morals and wel-
21 fare of the residents of the state and impair economic values; that these con-
22 ditions necessitate excessive and disproportionate expenditures of public
23 funds for crime prevention and punishment, public health and safety, fire and
24 accident protection, and other public services and facilities.
25 (b) That private enterprise has not been able to provide, without assis-
26 tance, an adequate supply of safe and sanitary dwellings at prices or rents
27 which persons and families of low income can afford, or to achieve rehabilita-
28 tion of much of the present low-income housing. It is imperative that the sup-
29 ply of housing for persons and families of low income be increased and that
30 coordination and cooperation among private enterprise, state and local govern-
31 ment be encouraged to sponsor, build and rehabilitate residential housing for
32 such persons and families.
33 (c) That the clearance, replanning and reconstruction of the areas in
34 which unsanitary or unsafe housing conditions exist, and the providing of safe
35 and sanitary dwelling accommodations for persons of low incomes (which
36 dwelling-accommodations need not be solely for persons of low incomes in order
37 to avoid concentrations of such persons in specific localities), are public
38 uses, and uses and purposes for which public money may be spent and private
39 property acquired, and are governmental functions.
40 (d) It is also declared and the legislature hereby finds that charitable,
41 educational, human service, cultural and other purposes pursued by nonprofit
42 corporations are important public functions and public purposes that should be
43 encouraged and that financing of nonprofit facilities for these purposes
1 should be encouraged, without using state funds or lending the credit of the
2 state, through the issuance of nonrecourse revenue bonds and the lending of
3 the proceeds thereof to nonprofit corporations to promote their purposes.
4 (e) It is further declared that in this state:
5 (1) There exists an inadequate supply of funds at interest rates suffi-
6 ciently low to enable persons engaged in agriculture in this state, par-
7 ticularly beginning farmers and ranchers, to pursue agricultural opera-
8 tions at present levels;
9 (2) That such inability to pursue agricultural operations lessens the
10 supply of agricultural commodities available to fulfill the needs of the
11 citizens of this state;
12 (3) That such inability to continue operations decreases available
13 employment in the agricultural sector of the state and results in unem-
14 ployment and its attendant problems;
15 (4) That such conditions prevent the acquisition of an adequate capital
16 stock of farm and ranch equipment and machinery, therefore impairing the
17 productivity of agricultural land;
18 (5) That such conditions are conducive to consolidation of acreage of
19 agricultural land with fewer individuals living and farming and ranching
20 on the traditional family farm and ranch;
21 (6) That these conditions result in a loss in population, unemployment
22 and movement of persons from rural to urban areas accompanied by added
23 costs to communities for creation of new public facilities and services;
24 (7) That there have been recurrent shortages of funds from private market
25 sources at reasonable rates of interest;
26 (8) That these shortages have made the sale and purchase of agricultural
27 land to beginning farmers and ranchers a virtual impossibility in many
28 parts of the state;
29 (9) That the ordinary operations of private enterprise have not in the
30 past corrected these conditions; and
31 (10) That a stable supply of adequate funds for agricultural financing is
32 required to encourage beginning farmers and ranchers in an orderly and
33 sustained manner and to reduce the problems described herein.
34 (f) It is hereby further declared that all of the foregoing are public
35 purposes and uses for which public moneys may be borrowed, expended or granted
36 and that such activities are governmental functions and serve a public purpose
37 in improving or otherwise benefiting the people of this state; that the neces-
38 sity of enacting the provisions hereinafter set forth is in the public inter-
39 est and is hereby so declared as a matter of express legislative determina-
41 SECTION 2. That Section 67-6205, Idaho Code, be, and the same is hereby
42 amended to read as follows:
43 67-6205. DEFINITIONS. The following terms, wherever used or referred to
44 in this chapter, shall have the following respective meanings, unless a dif-
45 ferent meaning clearly appears from the context:
46 (a) "Association" or "housing association" shall mean the Idaho housing
47 and finance association created by section 67-6202, Idaho Code.
48 (b) "Housing project" shall mean any work or undertaking:
49 (1) tTo demolish, clear or remove buildings from any slum area; such work
50 or undertaking may embrace the adoption of such area to public purposes,
51 including parks or other recreational or community purposes; or
52 (2) tTo construct, sell, lease, finance, improve, operate or otherwise
53 provide decent, safe and sanitary urban or rural dwellings, apartments or
1 other living accommodations for persons of low income; such work or under-
2 taking may include buildings, land, equipment, facilities and other real
3 or personal property which are necessary, convenient or desirable appurte-
4 nances, such as, but not limited to, streets, sewers, water service,
5 parks, site preparation, gardening, administrative, community, health,
6 recreational, and welfare or other purposes; or
7 (3) tTo accomplish a combination of the foregoing. The term "housing
8 project" also may be applied to the planning of the buildings and improve-
9 ments, for either single or multi-family housing, the acquisition of prop-
10 erty, the demolition of existing structures, the construction, reconstruc-
11 tion, rehabilitation, alteration and repair of the buildings and improve-
12 ments and all other work in connection therewith.
13 (c) "Governing body" shall mean the city council, board of commissioners,
14 board of trustees or other body having charge of the locality in which the
15 association desires to undertake a housing project.
16 (d) "Federal government" shall include the United States of America, or
17 any other agency or instrumentality, corporate or otherwise, of the United
18 States of America.
19 (e) "City" shall mean any city in the state of Idaho, including each city
20 having a special charter.
21 (f) "County" or "counties" shall include all counties in the state of
22 Idaho as designated in chapter 1, title 31, Idaho Code.
23 (g) "Clerk" shall mean the clerk of the city or county as the case may be
24 or the officer charged with the duties customarily imposed on such clerk.
25 (h) "Area of operation" shall mean the state of Idaho.
26 (i) "Slum" shall mean any area where dwellings predominate which, by rea-
27 son of dilapidation, overcrowding, lack of ventilation, light or sanitary
28 facilities or any combination of these factors, are detrimental to safety,
29 health or morals.
30 (j) "Person of low-income" means persons deemed by the association,
31 including those defined as "elderly" in the United States Housing Act of 1937
32 [42 U.S.C., sec. 1437--1437dd], as amended, to require assistance available
33 under this act on account of insufficient personal or family income, to pay
34 the rents or carrying charges required by the unaided operation of private
35 enterprise in providing an adequate supply of decent, safe and sanitary hous-
36 ing and in making such determination the association shall take into consider-
37 ation, without limitation, such factors as:
38 (1) tThe amount of the total income of such persons available for housing
39 needs ,;
40 (2) tThe size of the family ,;
41 (3) tThe cost and condition of housing facilities available ,;
42 (4) sStandards established for various federal programs determining eli-
43 gibility based on income of such persons ,; and
44 (5) tThe ability of such persons to compete successfully in the normal
45 housing market and to pay the amounts at which private enterprise is pro-
46 viding decent, safe and sanitary housing.
47 (k) "Bonds," "notes" or "bond anticipation notes," and "obligations"
48 shall mean any bonds, notes, interim certificates, debentures or other evi-
49 dences of financial indebtedness issued by the association pursuant to this
51 (l) "Real property" shall include all lands, including improvements and
52 fixtures thereon, and property of any nature, appurtenant thereto, or used in
53 connection therewith, and every estate, interest and right, legal or equita-
54 ble, therein, including terms for years and liens by way of judgment, mortgage
55 or otherwise and the indebtedness secured by such liens.
1 (m) "Housing authority" or "authority" means a housing authority estab-
2 lished pursuant to the "housing authorities and cooperation law" constituting
3 chapter 19, title 50, Idaho Code.
4 (n) "Rent" shall mean the periodic payment made by a person of low-income
5 in a housing project whether such money is being used as rent, or for the
6 development of equity by such person.
7 (o) "Interim financing" means a short-term construction loan for planning
8 and/or development of residential housing for persons of low-income and other
9 persons which loan shall run until financing can be assumed through other fed-
10 eral, state or private financing.
11 (p) "Housing sponsor" means individuals, joint ventures, partnerships,
12 limited partnerships, public bodies, trusts, firms, associations, or other
13 legal entities or any combination thereof, and corporations, cooperatives, and
14 condominiums, approved by the association as qualified either to own, con-
15 struct, acquire, rehabilitate, operate, manage or maintain a housing project,
16 subject to the regulatory powers of the association and other terms and condi-
17 tions set forth in this chapter. A "housing sponsor" shall be either a
18 "limited profit" sponsor or a "nonprofit" sponsor.
19 (q) "Mortgage lender" means any bank or trust company, savings bank,
20 mortgage company, mortgage banker, credit union, national banking association,
21 savings and loan association, building and loan association, life insurance
22 company, and any other financial institution authorized to transact business
23 in the state.
24 (r) "Mortgage loan" means an interest-bearing obligation secured by a
25 deed of trust, a mortgage, bond, note, or other instrument which is a lien on
26 property in the state except in the case of loans insured by the federal hous-
27 ing administration or the association and which are made for the rehabilita-
28 tion or improvement of existing dwellings; in such case the loans need not be
29 secured by an instrument constituting a lien on property in the state.
30 (s) "Mixed income housing project" means a housing project which contains
31 dwellings occupied or to be occupied by persons of low-income constituting at
32 least twenty percent (20%) of such occupancy.
33 (t) "Facilities" means land, rights in land, buildings, structures,
34 equipment, landscaping, utilities, approaches, roadways and parking, handling
35 and storage areas, and portions of any of the foregoing and similar ancillary
37 (u) "Nonprofit corporation" means a nonprofit corporation organized and
38 operating in accordance with Idaho law or a nonprofit corporation organized
39 and operating in accordance with comparable laws within another state or ter-
40 ritory of the United States.
41 (v) "Nonprofit facilities" means facilities owned or used by a nonprofit
42 corporation for a nonprofit purpose of the corporation; provided that facili-
43 ties for health facilities which may be funded pursuant to chapter 14, title
44 39, Idaho Code, shall not be included in this definition, except for such
45 health facilities as may be specifically approved by the Idaho health facili-
46 ties authority.
47 (w) "Project costs of a nonprofit facility" means costs of:
48 (1) aAcquisition, construction and improvement of any facilities included
49 in a nonprofit facility;
50 (2) aArchitectural, engineering, consulting, accounting and legal costs
51 related directly to the development, financing and construction of a non-
52 profit facility, including costs of studies assessing the feasibility of a
53 nonprofit facility;
54 (3) fFinance costs, including discounts, if any, the costs of issuing
55 bonds, and costs incurred in carrying out any provisions thereof;
1 (4) iInterest during construction and during the six (6) months after
2 estimated completion of construction, and capitalized debt service or
3 repair and replacement or other appropriate reserves;
4 (5) tThe refunding of any outstanding obligations incurred for any of the
5 costs outlined in this subsection; and
6 (6) oOther costs incidental to any of the costs listed in this section.
7 (x) "Agricultural facility or facilities" means land, any building or
8 other improvement thereon or thereto, to be owned by a beginning farmer or
9 rancher and any personal properties deemed necessary or suitable for use,
10 whether or not now in existence in farming or ranching, the production of
11 agricultural commodities, including, without limitation, the products of aqua-
12 culture, hydroponics and silviculture, or the treating, processing or storing
13 of such agricultural commodities when such activities are customarily engaged
14 in by beginning farmers or ranchers as a part of farming or ranching.
15 SECTION 3. That Section 67-6206, Idaho Code, be, and the same is hereby
16 amended to read as follows:
17 67-6206. POWERS OF ASSOCIATION. The housing and finance association is an
18 independent public body corporate and politic, exercising public and essential
19 governmental functions, and having all the powers which are hereby declared to
20 be public purposes necessary or convenient to carry out and effectuate the
21 purposes and provisions of this act, including the following powers in addi-
22 tion to others herein granted:
23 (a) To sue and to be sued; to have a seal and to alter the same at pleas-
24 ure; to have perpetual succession; to make and execute contracts and other
25 instruments necessary or convenient to the exercise of the powers of the asso-
26 ciation; and to make and from time to time amend and repeal bylaws, rules, not
27 inconsistent with this act, to carry into effect the powers and purposes of
28 the association.
29 (b) To conduct its operations within any or all of the counties of the
31 (c) To cooperate with housing authorities throughout Idaho in the devel-
32 opment of housing projects.
33 (d) To assign priorities for action and revise or modify said priorities
34 from time to time.
35 (e) To make and execute agreements, contracts and other instruments nec-
36 essary or convenient in the exercise of the powers and functions of the asso-
37 ciation under this act, including contracts with any housing sponsor, mortgage
38 lender, person, firm, corporation, governmental agency, or other entity; and
39 to include in any contract let in connection with a project, stipulations
40 requiring that the contractor and any subcontractors comply with requirements
41 as to minimum wages and maximum hours of labor, and comply with any conditions
42 which the federal government may have attached to its financial aid of the
43 project and to designate mortgage lenders to act for and in behalf of the
44 association, with respect to originating or servicing and processing mortgage
45 loans of the association, and to pay the reasonable value of service rendered
46 to the association by such mortgage lenders pursuant to contracts with mort-
47 gage lenders.
48 (f) To lease, sell, construct, finance, reconstruct, restore, rehabili-
49 tate, operate or rent any housing projects, nonprofit facilities or any dwell-
50 ings, houses, accommodations, lands, buildings, structures or facilities
51 embraced in any housing project or nonprofit facilities and, subject to the
52 limitations contained in this act, to establish and revise the rents or
53 charges therefor.
1 (g) To own, hold and improve real or personal property; to purchase,
2 lease, obtain options upon, acquire by gift, grant, bequest, devise, eminent
3 domain or otherwise, any real or personal property or any interest therein.
4 (h) To acquire any real property; to sell, lease, exchange, transfer,
5 assign, pledge or dispose of any real or personal property or any interest
7 (i) To insure or provide for the insurance of any real or personal prop-
8 erty or operation of the association against any risks or hazards, and to pro-
9 cure or agree to the procurement of insurance or guarantees from the federal
10 government or other source for the payment or purchase of any bonds or parts
11 thereof issued by the association, including the power to pay for any such
12 insurance or guarantees.
13 (j) To invest any funds held in reserves or sinking funds, or any funds
14 not required for immediate disbursement, in property or securities in which a
15 bank, as defined in the "bank act," title 26, Idaho Code, may legally invest
16 funds including without limitation, to agree to purchase the obligations of
17 any federal, state or local government upon such conditions as the association
18 may determine to be prudent and in its best interest.
19 (k) Within its area of operation: to investigate into living, dwelling
20 and housing conditions and into the means and methods of improving such condi-
21 tions; to determine where slum areas exist or where there is a shortage of
22 adequate, safe and sanitary dwelling accommodations for persons of low-income;
23 to make studies and recommendations relating to the problem of clearing,
24 replanning and reconstruction of slum areas and the problem of providing
25 dwelling accommodations for persons of low-income, and to cooperate with the
26 city, the county, the state or any political subdivision thereof in action
27 taken in connection with such problems; and to engage in research, studies and
28 experimentation on the subject of housing.
29 (l) To participate in cooperative ventures with any agencies, organiza-
30 tions and individuals in order to undertake the provision of housing for per-
31 sons of low-income, or to undertake the provision of nonprofit facilities or
32 agricultural facilities.
33 (m) To provide research and technical assistance to eligible agencies,
34 organizations and individuals eligible to develop low cost housing and to
35 research new low cost housing development and construction methods.
36 (n) To make and undertake commitments to make or participate in the mak-
37 ing of mortgage loans to persons of low-income and to housing sponsors,
38 including without limitation federally insured mortgage loans, and to make
39 temporary loans and advances in anticipation of permanent loans to housing
40 sponsors; said mortgage loans to housing sponsors shall be made to finance the
41 construction, improvement, or rehabilitation of housing projects for persons
42 of low-income, and/or mixed income housing projects upon the terms and condi-
43 tions set forth in this act; provided, however, that such loans shall be made
44 only upon the determination by the association that mortgage loans are not
45 otherwise available, wholly or in part, from private lenders upon reasonably
46 equivalent terms and conditions.
47 (o) To purchase, or make commitments to purchase or participate in the
48 purchase of mortgage loans from mortgage lenders which loans have been made
49 for the construction, improvement, or rehabilitation of housing projects for
50 persons of low-income and/or mixed income housing projects or loans which have
51 been made to persons of low-income for residential housing, upon terms set
52 forth in this act; provided, however, that any such purchase shall be made
53 only upon the determination by the association that the mortgage loans to be
54 made are not otherwise being made by mortgage lenders upon reasonably equiva-
55 lent terms and conditions. Also, to purchase, or make commitments to purchase
1 or participate in the purchase of mortgage loans from mortgage lenders whether
2 or not said loans were made to persons of low-income, upon terms set forth in
3 this act; provided, however, that the proceeds from such purchase or the
4 equivalent thereof shall be reinvested in obligations of the association, in
5 mortgage loans to persons of low-income or in mortgage loans for housing proj-
6 ects for persons of low-income and/or mixed income housing projects, and pro-
7 vided that any such purchase shall be made only upon the determination by the
8 association that the mortgage loans to be made are not otherwise being made by
9 mortgage lenders upon reasonably equivalent terms and conditions.
10 (p) To provide interim financing for housing projects including mixed
11 income housing projects approved by the association, provided that the associ-
12 ation has determined that such financing is not otherwise available from mort-
13 gage lenders upon reasonably equivalent terms and conditions.
14 (q) To prescribe rules and policies in connection with the performance of
15 its functions and duties.
16 (r) To do all other things deemed necessary and desirable to accomplish
17 the objectives of this act.
18 (s) To borrow money and issue bonds and notes or other obligations, to
19 invest the proceeds thereof in any lawful manner and to fund or refund the
20 same, and to provide for the rights of the holders of its obligations as pro-
21 vided in this act and in connection therewith, to waive, by resolution or
22 other document of the association, the exemption from federal income taxation
23 of interest on any of the association's obligations under existing or future
24 federal law and to establish, maintain and preserve the association's general
25 obligation rating and any rating on its bonds, notes or other obligations.
26 (t) To receive and accept aid or contributions from any source.
27 (u) To employ architects, engineers, attorneys, accountants, housing con-
28 struction and financial experts and such other advisors, consultants and
29 agents as may be necessary in its judgment and to fix their compensation.
30 (v) To insure mortgage payments of any mortgage loan made for the purpose
31 of constructing, rehabilitating, purchasing, leasing, or refinancing housing
32 projects upon such terms and conditions as the association may prescribe.
33 (w) To fix and revise from time to time and charge and collect fees and
34 charges in connection with loans made or other services provided by the asso-
35 ciation pursuant to this act, and to make and publish rules respecting the
36 making and purchase of mortgage loans.
37 (x) To organize a nonprofit corporation to assist the association in pro-
38 viding for housing projects.
39 (y) To enter upon and inspect any housing project, including housing
40 projects undertaken by housing sponsors, for the purpose of investigating the
41 physical and financial condition thereof, and its construction, rehabilita-
42 tion, operation, management and maintenance, and to examine all books and
43 records with respect to capitalization, income and other matters relating
45 (z) To order such alterations, changes or repairs as may be necessary to
46 protect the security of its investment in a housing project or the health,
47 safety, and welfare of the occupants thereof.
48 (aa) To make or purchase secured loans for the purpose of providing tempo-
49 rary or permanent financing or refinancing of all or part of the project costs
50 of any nonprofit facility or agricultural facility, including the refunding of
51 any outstanding obligations, mortgages or advances issued, made or given by
52 any person for the project costs of a nonprofit facility or agricultural
53 facility; and to charge and collect interest on the loans for the loan pay-
54 ments upon such terms and conditions, including without limitation bond rating
55 and issuance conditions, as the board of commissioners considers advisable
1 which are not in conflict with this chapter.
2 (bb) As security for the payment of the principal of and interest on any
3 revenue bonds issued and any agreements made in connection therewith, to mort-
4 gage, pledge, or otherwise encumber any or all of nonprofit facilities or
5 agricultural facilities or any part or parts thereof, whether then owned or
6 thereafter acquired, and to assign any mortgage and repledge any security con-
7 veyed to the association, to secure any loan made by the association and to
8 pledge the revenues and receipts therefrom.
9 (cc) To issue bonds for the purpose of financing all or part of the proj-
10 ect cost on any nonprofit facility or agricultural facility and to secure the
11 payment of the bonds as provided in this chapter.
12 (dd) To purchase or sell by installment contract or otherwise, and convey
13 all or any part of any nonprofit facility or agricultural facility for such
14 purchase price and upon such terms and conditions as this board of commission-
15 ers considers advisable which are not in conflict with this chapter.
16 (ee) To lease all or any part of any nonprofit facility or agricultural
17 facility for such rentals and upon such terms and conditions, including
18 options to purchase, as the board of commissioners considers advisable and not
19 in conflict with this chapter.
20 (ff) To construct and maintain one (1) or more nonprofit facilities or
21 agricultural facilities, provided that the association shall not operate any
22 nonprofit facility or agricultural facility as a business other than as les-
23 sor, seller or lender. The purchase, holding and enforcing of mortgages, deeds
24 of trust, or other security interests and contracting for any servicing
25 thereof is not considered the operation of a nonprofit facility or agricul-
26 tural facility as a business.
27 (gg) To act as the designated housing resource clearinghouse in the state
28 for matters relating to affordable housing.
29 (hh) To coordinate the development and maintenance of a housing policy for
30 the state.
31 SECTION 4. That Section 67-6207A, Idaho Code, be, and the same is hereby
32 amended to read as follows:
33 67-6207A. ADDITIONAL POWERS. In addition to all other powers, the associ-
34 ation also shall have the following specific powers:
35 (a) To make and publish rules respecting making mortgage loans pursuant
36 to this act, the regulations of borrowers, housing sponsors, mortgage lenders,
37 and the construction of ancillary commercial facilities.
38 (b) To make rules respecting the qualifications for admission to housing
39 projects pursuant to this act.
40 (c) To invest in, purchase, sell, or to make commitments to purchase, and
41 take assignments from lenders, of notes and mortgages or other obligations
42 evidencing loans for housing projects, or loans for nonprofit facilities or
43 loans for agricultural facilities, at public or private sale, with or without
44 public bidding.
45 (d) To make loans to mortgage lenders under terms and conditions requir-
46 ing the proceeds thereof to be used by such mortgage lenders for the making of
47 new mortgage loans for housing projects.
48 (e) To enter into mortgage insurance agreements with mortgage lenders in
49 connection with the lending of money by such institutions for housing proj-
51 (f) Subject to any agreement with bondholders or noteholders, to collect,
52 enforce the collection of, and foreclose on any collateral securing its loans
53 to mortgage lenders and acquire or take possession of such collateral and sell
1 the same at public or private sale, with or without public bidding, and other-
2 wise deal with such collateral as may be necessary to protect the interest of
3 the association therein.
4 SECTION 5. That Section 67-6223, Idaho Code, be, and the same is hereby
5 amended to read as follows:
6 67-6223. BORROWING POWER -- FINANCIAL ASSISTANCE -- COOPERATION WITH
7 STATE AND FEDERAL GOVERNMENT. In addition to the powers conferred upon the
8 association by other provisions of this act, the association is empowered to
9 administer any other state or federal assistance program including without
10 limitation all tax credit programs and block grants and to borrow money or
11 accept contributions, grants or other financial assistance from the state or
12 federal government for or in aid of any housing project, or nonprofit facility
13 or agricultural facility within its area of operation, to take over or lease
14 or manage any housing project, or nonprofit facility or agricultural facility
15 or undertaking constructed or owned by the federal government, and to these
16 ends, to comply with such conditions and to make such trust indentures, leases
17 or agreements as may be necessary, convenient or desirable. It is the purpose
18 and intent of this act to authorize the association to do any and all things
19 necessary or desirable to secure the financial aid or cooperation of the state
20 or federal government in the undertaking, construction, maintenance or opera-
21 tion of any housing project, or nonprofit facility or agricultural facility by
22 the association. The association is specifically authorized to work with the
23 Idaho department of agriculture in connection with any loan for an agricul-
24 tural facility and the Idaho department of agriculture shall assist in the
25 provisions of such loans.
26 SECTION 6. An emergency existing therefor, which emergency is hereby
27 declared to exist, this act shall be in full force and effect on and after its
28 passage and approval.
STATEMENT OF PURPOSE
This proposed legislation relates to the Idaho Housing and Finance
Association to amend Idaho Code to include assistance to beginning farmers and
ranchers for agricultural facilities as public purposes. To provide powers relating
to the financing of agricultural facilities, to provide for loans for agricultural
facilities and to provide for authority to receive state or federal assistance for
agricultural facilities and for cooperation with the Idaho Department of
The proposed legislation should impose a fiscal impact of approximately
Name: John Sandy
Phone: (208) 332-1305
Statement of Purpose/Fiscal Impact Statement BillNo. S 1536
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