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H0256aa............................................by ENVIRONMENTAL AFFAIRS
COEUR D'ALENE BASIN - Amends and adds to existing law to establish the
"Basin Environmental Improvement Act."
02/15 House intro - 1st rdg - to printing
02/16 Rpt prt - to Env Aff
03/07 Rpt out - to Gen Ord
03/12 Rpt out amen - to engros
03/13 Rpt engros - 1st rdg - to 2nd rdg as amen
03/14 2nd rdg - to 3rd rdg as amen
3rd rdg as amen - PASSED - 67-1-2
AYES -- Barraclough, Barrett, Bedke, Bell, Bieter, Black, Boe, Bolz,
Bradford, Bruneel, Callister, Clark, Collins, Crow, Cuddy, Deal,
Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20), Gagner,
Gould, Hadley, Hammond, Harwood, Henbest, Higgins, Hornbeck, Jaquet,
Jones, Kellogg, Kendell, Kunz, Lake, Langford, Loertscher, Mader,
Marley, McKague, Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce,
Pischner, Pomeroy, Raybould, Ridinger, Roberts, Robison, Sali,
Sellman, Shepherd, Smith, Smylie, Stevenson, Stone, Swan, Tilman,
Trail, Wheeler, Wood, Young, Mr. Speaker
NAYS -- Chase
Absent and excused -- Campbell, Schaefer
Floor Sponsor -- Pischner
Title apvd - to Senate
03/15 Senate intro - 1st rdg - to Health/Wel
03/19 Rpt out - rec d/p - to 2nd rdg as amen
03/20 2nd rdg - to 3rd rdg as amen
03/21 3rd rdg as amen - PASSED - 33-0-1-1
AYES -- Andreason, Boatright, Branch, Brandt, Bunderson, Burtenshaw,
Cameron, Danielson, Darrington, Davis, Deide, Dunklin, Frasure,
Geddes, Goedde, Hawkins, Ingram, Ipsen, Keough, King-Barrutia, Lee,
Noh, Richardson, Risch, Sandy, Schroeder, Sims, Sorensen, Stegner,
Stennett, Thorne, Whitworth, Williams,
NAYS -- None
Absent and excused -- Wheeler
Excused -- Lodge
Floor Sponsor -- Ipsen
Title apvd - to House
03/22 To enrol - rpt enrol - Sp signed
03/23 Pres signed
03/26 To Governor
04/10 Governor signed
Session Law Chapter 371
Effective: 04/10/01, w/ section 1 effective upon execution
of order pursuant to 39-8106, Idaho Code, and order filed
w/ Governor and Secretary of State
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 256
BY ENVIRONMENTAL AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO WATER QUALITY; AMENDING SECTION 39-3613, IDAHO CODE, TO STRIKE
3 PROVISIONS ESTABLISHING THE COEUR D'ALENE RIVER COMMISSION; AMENDING TITLE
4 39, IDAHO CODE, BY THE ADDITION OF A NEW CHAPTER 81, TITLE 39, IDAHO CODE,
5 TO ESTABLISH THE BASIN ENVIRONMENTAL IMPROVEMENT ACT, TO PROVIDE A SHORT
6 TITLE, TO EXPRESS THE POLICY OF THE STATE, TO PROVIDE DEFINITIONS, TO PRO-
7 VIDE FOR ESTABLISHMENT OF AGREEMENTS OR COMPACTS FOR PARTICIPATION IN THE
8 BASIN PROJECT, TO PROVIDE THAT THE GOVERNOR SHALL REQUEST RECIPROCAL LEG-
9 ISLATION, TO PROVIDE FOR CREATION OF THE BASIN PROJECT AND TO PROVIDE FOR
10 ESTABLISHMENT OF A BOARD OF COMMISSIONERS, COMPOSITION OF THE BOARD AND
11 POWERS AND DUTIES, TO PROVIDE FOR ESTABLISHMENT OF A BASIN FUND AND
12 FINANCING AUTHORITY AND ITS ADMINISTRATORS AND AUTHORITIES, TO PROVIDE
13 THAT THE FINANCING AUTHORITY MAY ISSUE NOTES AND BONDS, TO PROVIDE THAT
14 THE STATE WILL NOT IMPAIR VESTED RIGHTS CREATED BY NOTES AND BONDS, TO
15 LIMIT LIABILITY AND PROVIDE THAT NOTES AND BONDS ARE NOT A DEBT OF THE
16 STATE, TO PROVIDE THAT THE STATE MAY MAKE GRANTS TO THE FINANCING AUTHOR-
17 ITY, TO PROVIDE THAT NOTES AND BONDS OF THE FINANCING AUTHORITY ARE LEGAL
18 INVESTMENTS, TO PROVIDE THAT NOTES AND BONDS OF THE FINANCING AUTHORITY
19 ARE TAX EXEMPT, TO PROVIDE THAT THE CHAPTER IS SUPPLEMENTAL AND IS NOT A
20 LIMITATION ON POWERS AND TO PROVIDE THAT THE CHAPTER PREVAILS IF OTHER
21 LAWS ARE INCONSISTENT; AND DECLARING AN EMERGENCY.
22 Be It Enacted by the Legislature of the State of Idaho:
23 SECTION 1. That Section 39-3613, Idaho Code, be, and the same is hereby
24 amended to read as follows:
25 39-3613. CREATION OF BASIN ADVISORY GROUPS. (1) The director, in consul-
26 tation with the designated agencies, shall name, for each of the state's major
27 river basins, no less than one (1) basin advisory group which shall generally
28 advise the director on water quality objectives for each basin and work in a
29 cooperative manner with the director to achieve these objectives. Each such
30 group shall establish by majority vote, operating procedures to guide the work
31 of the group. Members shall be compensated pursuant to section 59-509(c),
32 Idaho Code. The membership of each basin advisory group shall be representa-
33 tive of the industries and interests directly affected by the implementation
34 of water quality programs within the basin and each member of the group shall
35 either reside within the basin or represent persons with a real property
36 interest within the basin. Recognized groups representing those industries or
37 interests in the basin may nominate members of the group to the director. Each
38 basin advisory group named by the director shall reflect a balanced represen-
39 tation of the interests in the basin and shall, where appropriate, include a
40 representative from each of the following: agriculture, mining, nonmunicipal
41 point source discharge permittees, forest products, local government, live-
42 stock, Indian tribes (for areas within reservation boundaries), water-based
43 recreation, and environmental interests. In addition, the director shall name
2
1 one (1) person to represent the public at large who may reside outside the
2 basin. Members named to the basin advisory groups shall, in the opinion of
3 the director, have demonstrated interest or expertise which will be of benefit
4 to the work of the basin advisory group. The director may also name as may be
5 needed those who have expertise necessary to assist in the work of the basin
6 advisory group who shall serve as technical nonvoting advisers to the basin
7 advisory group.
8 (2) The governor shall establish a commission to be known as the Coeur
9 d'Alene River basin commission whose membership is stated below for the Coeur
10 d'Alene River basin, including the north and south forks of the Coeur d' Alene
11 River, the main stem of the Coeur d'Alene River, Lake Coeur d'Alene and the
12 Spokane River to replace and fulfill the duties of the basin advisory group
13 and the watershed advisory group for those rivers and Lake Coeur d'Alene as
14 stated in this section and sections 39-3614 through 39-3616, Idaho Code, as
15 these duties related to heavy metal impacts in the Coeur d'Alene River basin.
16 At the discretion of the governor, the commission may be asked to perform
17 duties other than those specified in sections 39-3613 through 39-3616, Idaho
18 Code. For duties related to sections 39-3613 through 39-3616, Idaho Code, the
19 commission shall report to the director. For all other duties assigned the
20 commission by the governor, the commission shall report to the governor, the
21 speaker of the house of representatives and the president pro tempore of the
22 senate. The governor shall appoint the following members of the commission:
23 one (1) representative of the governor; one (1) representative of the division
24 of environmental quality of the department of health and welfare; one (1) rep-
25 resentative of the department of lands; one (1) representative each of the
26 county governments of Benewah county, Kootenai county and Shoshone county; one
27 (1) representative of the trustees established under the settlement agreement
28 of May 3, 1986, entered in State of Idaho v. Bunker Hill Co., No. 83-3161 (D.
29 Idaho); two (2) representatives of the citizen's advisory committee of the
30 Coeur d'Alene basin restoration project; one (1) representative of the mining
31 industry; and one (1) representative of other affected industries.
32 In addition to the governor's appointees, the commission shall have the
33 following representatives appointed: one (1) representative of the U.S. envi-
34 ronmental protection agency appointed by the agency; one (1) representative of
35 the U.S. department of agriculture and the U.S. department of interior to be
36 appointed jointly by those agencies; and one (1) representative of the Coeur
37 d'Alene tribe appointed by the tribe. The term of a member of the commission
38 shall be three (3) years. The governor may remove at his discretion any mem-
39 bers appointed by him. The commission shall operate by a simple majority vote
40 of the members of the commission. The members of the commission shall elect a
41 chairperson annually from the members of the commission. Members of the com-
42 mission who are not state employees shall be compensated as provided in sec-
43 tion 59-509(b), Idaho Code, if they are not otherwise being compensated for
44 travel costs and per diem for serving on the commission.
45 SECTION 2. That Title 39, Idaho Code, be, and the same is hereby amended
46 by the addition thereto of a NEW CHAPTER, to be known and designated as Chap-
47 ter 81, Title 39, Idaho Code, and to read as follows:
48 CHAPTER 81
49 BASIN ENVIRONMENTAL IMPROVEMENT ACT
50 39-8101. SHORT TITLE. This act may be known and cited as the "Basin Envi-
51 ronmental Improvement Act."
3
1 39-8102. POLICY OF STATE. The Idaho legislature declares that environmen-
2 tal protection and improvement of the Coeur d'Alene basin to protect human
3 health and enhance natural resources is very important to the state. There-
4 fore, it is the policy of the state to provide in this chapter a system for
5 environmental remediation, natural resource restoration and related measures
6 to address heavy metal contamination in the basin. The system provided in
7 this chapter is intended to protect and promote the health, safety and general
8 welfare of the people of Idaho in a manner consistent with local, state, fed-
9 eral and tribal participation and resources.
10 39-8103. DEFINITIONS. As used in this chapter, unless a different meaning
11 clearly appears from the context:
12 (1) "Administrator" means the administrator or a member of the board of
13 administrators of the basin environmental improvement fund and financing
14 authority.
15 (2) "Basin" means the watershed of Coeur d'Alene Lake within the counties
16 of Shoshone, Kootenai and Benewah in the state of Idaho.
17 (3) "Basin environmental improvement fund and financing authority" or
18 "financing authority" means the entity established by the authority of this
19 chapter, and agreements, compacts, reciprocal legislation or resolutions with
20 or by the United States of America, the Coeur d'Alene tribe or the state of
21 Washington to accept and invest funds and finance the activities of the basin
22 project.
23 (4) "Basin environmental improvement project" or "basin project" means
24 the environmental and natural resources restoration and related measures
25 regarding heavy metal contamination in the basin undertaken by the commission.
26 (5) "Basin environmental improvement project commission" or "commission"
27 means the entity organized by the authority of this chapter and agreements,
28 compacts, reciprocal legislation or resolutions with or by the United States
29 of America, the Coeur d'Alene tribe or the state of Washington to implement
30 the basin project.
31 (6) "Board of administrators" or "administrators" means the administra-
32 tor or board of administrators of the basin environmental improvement fund
33 and financing authority.
34 (7) "Board of commissioners" or "commission" means the board of commis-
35 sioners of the basin environmental improvement project commission.
36 (8) "Bonds" or "notes" or "bond anticipation notes" or "other obliga-
37 tions" means any bonds, notes, debentures, interim certificates or other evi-
38 dence of financial indebtedness issued by the financing authority pursuant to
39 this chapter.
40 (9) "Commissioner" means a member of the board of commissioners of the
41 basin environmental improvement project commission.
42 (10) "Executive director" means the executive director of the basin envi-
43 ronmental improvement project commission.
44 39-8104. ESTABLISHMENT OF AGREEMENTS OR COMPACTS FOR PARTICIPATION IN
45 BASIN PROJECT COMMISSION. The director of the department of environmental
46 quality and the attorney general of the state of Idaho or their delegates
47 shall represent the state of Idaho in negotiations with representatives of the
48 state of Washington, the Coeur d'Alene tribe and the United States of America
49 for the purpose of reaching agreements or compacts between the state of Idaho
50 and any or all of the other named governments regarding participation in the
51 basin project commission and the basin financing authority, for the purpose
52 of providing for environmental remediation and natural resource restoration in
53 the Coeur d'Alene basin in a manner consistent with local, state, federal and
4
1 tribal authorities and resources; provided however, that any agreement or com-
2 pact entered into on behalf of the named governments shall not be binding or
3 obligatory upon any of those governments until the agreement or compact is
4 approved by the requisite named governments. The governor of the state of
5 Idaho may enter into any agreement or compact consistent with this chapter.
6 39-8105. GOVERNOR SHALL REQUEST RECIPROCAL LEGISLATION OR RESOLUTION. The
7 governor of the state of Idaho shall advise the chairman of the Coeur d'Alene
8 tribe, the governor of the state of Washington and the president of the United
9 States of America of the enactment of this chapter and request that, if neces-
10 sary, reciprocal resolutions or legislation be enacted by those governments to
11 authorize negotiation and entry into agreements or compacts regarding partici-
12 pation in the basin environmental improvement project commission and financ-
13 ing authority.
14 39-8106. BASIN PROJECT COMMISSION -- ESTABLISHMENT -- COMPOSITION --
15 POWERS -- DUTIES -- FUNDING. (1) The basin environmental improvement project
16 commission is hereby created and shall become operational when the director of
17 the department of environmental quality, by execution of an appropriate order,
18 determines that:
19 (a) Significant funds from any source have been provided to the basin
20 improvement fund and financing authority; or
21 (b) Any one (1) or more agreements or compacts have been entered into
22 between the state of Idaho and the state of Washington, the Coeur d'Alene
23 tribe or the United States of America providing for participation in the
24 basin project commission and financing authority.
25 (2) Any agreement or compact providing for participation in the basin
26 project commission and financing authority shall be consistent with the terms
27 of this chapter.
28 (3) The board of commissioners of the basin project commission shall
29 include one (1) representative of the state of Idaho and one (1) representa-
30 tive from each of the county commissions of Shoshone, Kootenai and Benewah
31 counties of the state of Idaho as appointed by the governor of the state of
32 Idaho. Upon participation of the state of Washington, the Coeur d'Alene tribe
33 or the United States of America through agreement or compact, the board of
34 commissioners shall also include, according to such participation: one (1)
35 regional representative of the eastern portion of the state of Washington
36 appointed by the governor of Washington; one (1) tribal council member of the
37 Coeur d'Alene tribe appointed by the council of the Coeur d'Alene tribe; and
38 one (1) representative of the United States of America appointed by the presi-
39 dent of the United States of America.
40 (4) The commission shall act by majority vote except that the vote of any
41 commissioner representative of the state of Idaho, the Coeur d'Alene tribe or
42 the United States of America, or the unanimous vote of all three (3) commis-
43 sioners representing Shoshone, Kootenai and Benewah counties, may veto any
44 majority vote, in which event the action is not valid. The commission shall
45 establish an advisory group to provide local citizen input to the commission
46 in the performance of its duties.
47 (5) The commission shall adopt as the basin project workplan a record of
48 decisions approved pursuant to the federal comprehensive environmental respon-
49 sibility compensation and liability act of 1980 (CERCLA), as amended, by the
50 environmental protection agency of the United States of America, the depart-
51 ment of environmental quality of the state of Idaho and, upon its participa-
52 tion, the Coeur d'Alene tribe, for environmental remediation and related mea-
53 sures pertaining to contamination by heavy metals in the basin. Amendment of
5
1 the basin project workplan shall be made by the commission upon approval of
2 the United States environmental protection agency, the Idaho department of
3 environmental quality and the Coeur d'Alene tribe.
4 (6) The commission shall, to the extent that funds are available from the
5 financing authority and any other source, implement the basin project
6 workplan.
7 (7) The commission may select institutional control measures in implemen-
8 tation of the basin project workplan. The measures shall be adopted and imple-
9 mented by appropriate local and tribal governments as a condition of
10 remediation or restoration activities within those jurisdictions.
11 (8) The commission shall appoint an executive director to administer the
12 basin project.
13 (9) The commissioner representing the state of Idaho and, in the event of
14 participation through agreement or compact, the commissioners representing the
15 United States of America and the Coeur d'Alene tribe, shall annually fix and
16 determine, consistent with the basin project workplan and its schedule, the
17 priorities of the basin project, the amount of money required from the financ-
18 ing authority, federal grants and taxation for implementing the basin project
19 priorities including costs of construction and other activities, costs of
20 operation and maintenance of the work, equipment of the basin project, and
21 costs of administration.
22 (10) The commission shall have, within the basin, the authority of a board
23 of commissioners of a flood control district as provided in chapter 31, title
24 42, Idaho Code, and the authority of a board of commissioners of a drainage
25 district as provided in chapters 29 and 30, title 42, Idaho Code.
26 (11) The commission shall have the following powers and duties which may
27 be exercised through the executive director of the basin project commission:
28 (a) To employ personnel as may be necessary to carry out the purposes and
29 objectives of the basin project commission;
30 (b) To sue and be sued in the name of the basin project commission and to
31 make and execute contracts and other instruments necessary or convenient
32 to the exercise of its power;
33 (c) To manage and conduct the business and affairs of the basin project
34 commission, both within and without the basin;
35 (d) To design, construct, operate and maintain structural works and
36 actions as provided by the basin project workplan or procure or contract
37 for the performance of those works and actions or portions thereof by any
38 local, state, tribal or federal governmental entity or any private entity
39 or individual;
40 (e) To prescribe the duties of officers, agents and employees as may be
41 required;
42 (f) To establish the fiscal year of the basin project commission, to keep
43 records of all business transactions of the basin project commission and
44 to provide an annual public accounting of all expenditures;
45 (g) To obtain options upon and acquire by purchase, exchange, lease,
46 gift, grant, bequest, devise, or otherwise, any real or personal property,
47 and improve any properties acquired; to receive income from properties and
48 to expend the income in carrying out the purposes and provisions of the
49 basin project commission; and to lease any of its property or interest
50 therein in furtherance of the purposes and provisions of the basin project
51 commission;
52 (h) To have the power of eminent domain for the use of the basin project
53 commission in the construction, operation, maintenance and upkeep of
54 structures, waterways, dikes, dams, basins, or any other use necessary in
55 carrying out the purposes of the basin project commission;
6
1 (i) To convey rights-of-way and easements for highways, public roads,
2 public utilities, and for other purposes, over basin project property, as
3 shall be determined by the commission to be in the best interests of the
4 basin project;
5 (j) To convey by deed, bill of sale, or other appropriate instrument all
6 of the estate and interest of the basin project commission, in any real or
7 personal property;
8 (k) To enter into contracts or agreements with the United States of Amer-
9 ica or any of its agencies, the states of Idaho or Washington or any of
10 their agencies or political subdivisions or the Coeur d'Alene tribe or any
11 of its agencies or subdivisions or private entities or individuals and to
12 cooperate with those governments, agencies, subdivisions, private entities
13 or individuals in effectuating, promoting and accomplishing the purposes
14 of the basin project;
15 (l) To bear its allocated share of the cost of any project resulting from
16 any contract or agreement entered into as provided in this chapter;
17 (m) To assume, administer and maintain pursuant to any agreement or con-
18 tract entered into in accordance with this chapter any environmental
19 remediation or restoration measure within the basin undertaken by or in
20 cooperation with the United States of America or any of its agencies, the
21 states of Idaho or Washington or any of their agencies or subdivisions, or
22 the Coeur d'Alene tribe or any of its agencies or subdivisions, or any
23 combinations thereof;
24 (n) To accept donations, gifts and contributions in money, services,
25 materials, or otherwise, from the United States of America or any of its
26 agencies, or the states of Idaho or Washington or any of their agencies or
27 political subdivisions, or the Coeur d'Alene tribe or any of its agencies
28 or subdivisions, or private entities or individuals, or any combinations
29 thereof, and to expend such moneys, services, or materials in carrying on
30 its operations;
31 (o) To exercise all other powers necessary or helpful in carrying out the
32 purposes and provisions of the basin project commission as provided in
33 this chapter and by agreements or compacts between the states of Idaho and
34 Washington, the Coeur d'Alene tribe and the United States of America.
35 39-8107. BASIN FUND AND FINANCING AUTHORITY -- ESTABLISHMENT -- ADMINIS-
36 TRATORS -- POWERS. (1) The basin environmental improvement fund and financing
37 authority is hereby created and shall become operational when the director of
38 the department of environmental quality, by execution of an appropriate order,
39 determines that significant funds have been provided to the financing author-
40 ity from any source, or any one (1) or more agreements or compacts between the
41 state of Idaho and the state of Washington, the Coeur d'Alene tribe or the
42 United States of America providing for participation in the basin project com-
43 mission and financing authority. The financing authority shall be an indepen-
44 dent public body corporate and politic within the meaning of section 1, arti-
45 cle viii, of the constitution of the state of Idaho, with no power to levy
46 taxes or to obligate the general fund of the state of Idaho.
47 (2) The administrator or board of administrators of the financing author-
48 ity shall consist of one (1) representative appointed by the governor of the
49 state of Idaho. Upon participation in the basin project by agreement or com-
50 pact, one (1) representative shall be appointed by the council of the Coeur
51 d'Alene tribe, one (1) representative shall be appointed by the governor of
52 the state of Washington and one (1) representative shall be appointed by the
53 president of the United States of America. Appointments shall be made on the
54 basis of demonstrated investment and financial management expertise. Each
7
1 administrator shall serve at the pleasure of his or her respective appointing
2 authority and may be removed and replaced at any time. Administrators shall
3 not be compensated. Two (2) or more administrators shall constitute a board
4 and may act by majority vote. Meetings shall be held whenever a majority of
5 administrators so request. The administrator or board of administrators shall
6 direct the activities of the financing authority.
7 (3) The funds of the financing authority may include moneys and any
8 income paid in settlement of any claims or lawsuits regarding heavy metals
9 contamination in the basin, annual appropriations by the states of Idaho and
10 Washington or the Coeur d'Alene tribe, receipts from the issuance of bonds and
11 any other source, public or private. To the extent allowed by law, the funds
12 of the financing authority shall not be considered federal funds and shall be
13 available for use as state matching funds for federal grants.
14 (4) The financing authority may administer its funds to maximize income
15 to fund the basin project. The financing authority is hereby authorized to
16 invest any funds not needed for immediate use or disbursement, including any
17 funds held in reserve, in:
18 (a) Bonds, notes and other obligations of the United States of America or
19 any agency or instrumentality thereof and other securities secured by such
20 bonds, notes or other obligations;
21 (b) Money market funds which are insured or the assets of which are lim-
22 ited to obligations of the United States of America or any agency or
23 instrumentality thereof;
24 (c) Time certificates of deposit and savings accounts; and
25 (d) Commercial paper which, at the time of its purchase, is rated in the
26 highest category by a nationally recognized rating service.
27 (5) The financing authority may contract for services deemed necessary to
28 carry out its duties including, but not limited to, financial, legal and
29 accounting services.
30 (6) The financing authority may provide moneys from its funds to the
31 basin project commission not to exceed such amounts as annually may be
32 requested by the basin project commission.
33 (7) The financing authority shall establish its fiscal year, keep records
34 of all investments, expenditures and business transactions and provide for an
35 annual public accounting.
36 (8) The financing authority may exercise all other powers necessary or
37 appropriate to carry out its corporate purposes including, without limitation,
38 the following:
39 (a) To sue and be sued in its own name;
40 (b) To have an official seal and to alter the seal at its pleasure;
41 (c) To maintain an office at a place or places within this state as it
42 may designate;
43 (d) To hire officers, agents and employees as may be required and to pre-
44 scribe its duties;
45 (e) To make and execute contracts and all other instruments necessary or
46 convenient for the exercise of its powers and functions;
47 (f) To obtain insurance against any loss in connection with its property
48 and other assets in amounts and from insurers it deems desirable;
49 (g) To borrow money and issue bonds and notes or other evidences of
50 indebtedness as hereinafter provided; and
51 (h) To the extent permitted under its contract with the holders of bonds,
52 notes and other obligations of the financing authority, to consent to any
53 modification of any contract, lease or agreement of any kind to which the
54 financing authority is a party.
8
1 39-8108. FINANCING AUTHORITY MAY ISSUE NOTES AND BONDS -- RELATED POWERS
2 AND DUTIES. (1) The financing authority may issue from time to time its notes
3 and bonds in a principal amount as the financing authority determines to be
4 necessary to provide sufficient funds for achieving any of its corporate pur-
5 poses, including the payment of interest on notes and bonds of the financing
6 authority, establishment of reserves to secure notes and bonds, and all other
7 expenditures of the financing authority incident to and necessary or conve-
8 nient to carry out its corporate purposes and powers.
9 (2) The financing authority may issue:
10 (a) Bonds or notes, in one (1) or more series, to finance the basin proj-
11 ect or any portion or portions thereof;
12 (b) Notes in anticipation of appropriations or other revenues;
13 (c) Notes to renew notes; and
14 (d) Bonds to pay notes, including the interest thereon, and whenever it
15 deems refunding expedient, to refund any bonds by the issuance of new
16 bonds, whether the bonds to be refunded have or have not matured, and to
17 issue bonds partly to refund bonds then outstanding and partly for any of
18 its corporate purposes. The refunding bonds may be:
19 (i) Exchanged for bonds to be refunded; or
20 (ii) Sold and the proceeds applied to the purchase, redemption or
21 payment of such bonds.
22 (3) Every issue of its notes and bonds shall be special obligations of
23 the financing authority payable out of such fund or funds as shall be speci-
24 fied by the financing authority.
25 (a) The notes and bonds shall be authorized by resolution or resolutions
26 of the financing authority, shall bear a date or dates and shall mature at
27 a time or times as the resolution or resolutions may provide, except that
28 no note shall mature more than one (1) year from the date of its issue and
29 no bond shall mature more than thirty (30) years from the date of its
30 issue. The bonds may be issued as serial bonds payable in annual
31 installments or as term bonds or as a combination thereof. The notes and
32 bonds shall bear interest at a rate or rates, be in denominations, be in a
33 form, either coupon or registered, carry registration privileges, be exe-
34 cuted in a manner, be payable in a medium of payment, at a place or
35 places, and be subject to terms of redemption as the resolution or resolu-
36 tions may provide. The notes and bonds of the financing authority may be
37 sold by the financing authority, at public or private sale, at a price or
38 prices, at, above, or below par, as the financing authority shall deter-
39 mine.
40 (b) Any resolution or resolutions authorizing any notes or bonds or any
41 issue thereof may contain provisions, which shall be a part of the con-
42 tract or contracts with the holders thereof, as to:
43 (i) Pledging all or any part of the revenues to secure the payment
44 of the notes or bonds or of any issue thereof, subject to such agree-
45 ments with noteholders or bondholders as may then exist;
46 (ii) Pledging all or any part of the assets of the financing
47 authority to secure the payment of the notes or bonds or of any issue
48 of notes or bonds, subject to agreements with noteholders or bond-
49 holders as may then exist;
50 (iii) The setting aside of reserves or sinking funds and the regula-
51 tion and disposition thereof;
52 (iv) Limitations on the purpose to which the proceeds of sale of
53 notes or bonds may be applied;
54 (v) Limitations on the issuance of additional notes or bonds, the
55 terms upon which additional notes or bonds may be issued and secured,
9
1 and the refunding of outstanding or other notes or bonds;
2 (vi) The procedure, if any, by which the terms of any contract with
3 noteholders or bondholders may be amended or abrogated, the amount of
4 notes or bonds the holders of which must consent thereto, and the
5 manner in which such consent may be given;
6 (vii) Limitations on the amount of moneys to be expended by the
7 financing agency for operating expenses of the financing authority;
8 (viii) Vesting in a trustee's or trustees' property, rights, powers
9 and duties in trust as the financing authority may determine, which
10 may include any or all of the rights, powers and duties of the
11 trustee appointed by the bondholders pursuant to this chapter, and
12 limiting or abrogating the right of the bondholders to appoint a
13 trustee under this chapter or limiting the rights, powers and duties
14 of the trustee;
15 (ix) Defining the acts or omissions to act which shall constitute a
16 default in the obligations and duties of the financing authority to
17 the holders of the notes or bonds and providing for the rights and
18 remedies of the holders of the notes or bonds in the event of a
19 default, including as a matter of right the appointment of a
20 receiver; provided however, that these rights and remedies shall be
21 consistent with this chapter and the laws of the state of Idaho;
22 (x) Any other matters, of like or different character, which in
23 any way affect the security or protection of the holders of the notes
24 or bonds.
25 (c) Any pledge made by the financing authority shall be valid and binding
26 from the time when the pledge is made; the revenues, moneys or property so
27 pledged and thereafter received by the financing agency shall immediately
28 be subject to the lien of the pledge without any physical delivery thereof
29 or further act, and the lien of the pledge shall be valid and binding
30 against all parties having claims of any kind in tort, contract or other-
31 wise against the financing authority, irrespective of whether the parties
32 have notice thereof. Neither the resolution nor any other instrument by
33 which a pledge is created need be recorded.
34 (d) Neither any administrator of the financing authority nor any other
35 person executing the notes or bonds are subject to any personal liability
36 or accountability by reason of the issuance thereof.
37 (e) The financing authority, subject to agreements with noteholders or
38 bondholders as may then exist, shall have power out of any funds available
39 therefor to purchase notes or bonds of the financing authority, which
40 shall thereupon be canceled, at a price not exceeding:
41 (i) If the notes or bonds are then redeemable, the redemption
42 price, including redemption premium, if any, then applicable plus
43 accrued interest to the next interest payment thereon; or
44 (ii) If the notes or bonds are not then redeemable, the redemption
45 price applicable on the first date after such purchase upon which the
46 notes or bonds become subject to redemption plus accrued interest to
47 such date.
48 (f) In the discretion of the financing authority, the bonds may be
49 secured by a trust indenture by and between the financing authority and a
50 corporate trustee which may be any trust company or bank having the power
51 of a trust company in the state. The trust indenture may contain provi-
52 sions for protecting and enforcing the rights and remedies of the bond-
53 holders as may be reasonable and proper and not in violation of law,
54 including covenants setting forth the duties of the financing authority in
55 relation to the exercise of its corporate powers and the custody, safe-
10
1 guarding and application of all moneys. The financing authority may pro-
2 vide by a trust indenture for the payment of the proceeds of the bonds and
3 the revenues to the trustee under the trust indenture or other depository,
4 and for the method of disbursement thereof, with safeguards and restric-
5 tions as it may determine. All expenses incurred in carrying out the trust
6 indenture may be treated as a part of the operating expenses of the
7 financing agency. If the bonds are secured by a trust indenture, the bond-
8 holders have no authority to appoint a separate trustee to represent them.
9 (g) Whether or not the notes and bonds are of a form and character as to
10 be negotiable instruments under the terms of the uniform commercial code,
11 the notes and bonds are hereby made negotiable instruments within the
12 meaning, and for all the purposes, of the uniform commercial code, subject
13 only to the provisions of the notes and bonds for registration.
14 (h) In case any of the administrators or officers of the financing
15 authority whose signatures appear on any notes or bonds or coupons shall
16 cease to be administrators or officers before the delivery of the notes or
17 bonds, the signatures shall, nevertheless, be valid and sufficient for all
18 purposes, the same as if the administrators or officers had remained in
19 office until delivery.
20 (4) The financing authority may provide for the issuance of refunding
21 obligations for the purpose of refunding any obligations then outstanding
22 which have been issued under the provisions of this chapter, including the
23 advance refunding of obligations as provided by section 57-504, Idaho Code,
24 and including the payment of any redemption premium thereon and any interest
25 accrued or to accrue to the date of redemption of such obligations and for any
26 corporate purpose of the financing authority. The issuance of the obligations,
27 the maturities and other details thereof, the rights of the holders thereof,
28 and the rights, duties and obligations of the financing authority in respect
29 of the same shall be governed by the provisions of this chapter which relate
30 to the issuance of obligations, insofar as such provisions may be appropriate.
31 (5) Refunding obligations issued as provided in subsection (4) of this
32 section may be sold or exchanged for outstanding obligations issued under this
33 chapter and, if sold, the proceeds thereof may be applied, in addition to any
34 other authorized purposes, to the purchase, redemption or payment of such out-
35 standing obligations. Pending the application of the proceeds of any refunding
36 obligations, with any other available funds, to the payment of the principal,
37 accrued interest and any redemption premium on the obligations being refunded,
38 and, if so provided or permitted in the resolution authorizing the issuance of
39 the refunding obligations or in the trust agreement securing the same, to the
40 payment of any interest on the refunding obligations and any expenses in con-
41 nection with refunding, the proceeds may be invested in direct obligations of,
42 or obligations the principal of and the interest on which are unconditionally
43 guaranteed by the United States of America which shall mature or which shall
44 be subject to redemption by the holders thereof, at the option of the holders,
45 not later than the respective dates when the proceeds, together with the
46 interest accruing thereon, will be required for the purposes intended.
47 (6) All funds of the financing authority except as otherwise authorized
48 or provided in this chapter shall be deposited as soon as practicable in a
49 separate account or accounts in banks or trust companies organized under the
50 laws of the state of Idaho or the national banking association. The moneys in
51 the accounts shall be paid out on checks signed by the chair of the board of
52 administrators or other officers or employees of the financing authority as
53 the administrators authorize. All deposits of the moneys shall, if required by
54 the financing authority, be secured by obligations of the United States of
55 America, of the state or of any municipalities or political subdivisions or
11
1 agencies of the state at a market value equal at all times to the amount of
2 the deposit, and all banks and trust companies are authorized to give security
3 for the deposits.
4 (7) Notwithstanding the provisions of this section, the financing author-
5 ity may contract with the holders of any of its notes or bonds as to the cus-
6 tody, collection, securing, investment and payment of any moneys of the
7 financing authority and of any moneys held in trust or otherwise for the pay-
8 ment of notes or bonds, and to carry out the contract. Moneys held in trust or
9 otherwise for the payment of notes or bonds or in any way to secure notes or
10 bonds and deposits of the moneys may be secured in the same manner as moneys
11 of the financing authority, and all banks and trust companies are authorized
12 to give security for the deposits.
13 (8) The financing authority may contract with the holders of bonds or
14 notes with respect to the rights of such holders in the event of a default in
15 the payment of principal or interest on such bonds or notes.
16 39-8109. NOTES AND BONDS -- STATE WILL NOT IMPAIR VESTED RIGHTS. The
17 state pledges to and agrees with the holders of any notes or bonds issued
18 under this chapter that the state will not limit or alter the rights hereby
19 vested in the financing authority to fulfill the terms of any agreements made
20 with the holders thereof or in any way impair the rights and remedies of the
21 holders until the notes and bonds, together with the interest thereon, with
22 interest on any unpaid installments of interest, and all costs and expenses in
23 connection with any action or proceeding by or on behalf of the holders, are
24 fully met and discharged. The financing authority may include this pledge and
25 agreement of the state in any agreement with the holders of the notes or
26 bonds.
27 39-8110. LIMITATION OF LIABILITY -- NOTES AND BONDS ARE NOT A DEBT OF THE
28 STATE. The notes, bonds or other obligations of the financing authority are
29 not an indebtedness or obligation of the state of Idaho, or of any department,
30 board, commission, agency, political subdivision, body corporate and politic,
31 or instrumentality of a municipality or county within the state, nor shall
32 such notes, bonds or obligations of the financing authority constitute the
33 giving or loaning of the credit of the state of Idaho, or of any department,
34 board, commission, agency, political subdivision, body corporate and politic
35 or instrumentality of a municipality or county within the state, nor shall
36 they be payable out of any funds other than those of the financing authority;
37 and the notes and bonds shall contain on the face thereof a statement to that
38 effect.
39 39-8111. STATE MAY MAKE GRANTS TO FINANCING AUTHORITY. The state may make
40 grants of money or property to the financing authority for the purpose of
41 enabling it to carry out its corporate purposes and for the exercise of its
42 powers including, but not limited to, deposits to the reserve funds. This sec-
43 tion does not limit any other power the state may have to make grants to the
44 financing authority.
45 39-8112. NOTES AND BONDS OF FINANCING AUTHORITY ARE LEGAL INVESTMENTS.
46 The notes and bonds of the financing authority are legal investments in which
47 all public officers and public bodies of this state, its political subdivi-
48 sions, all municipalities and municipal subdivisions, all insurance companies
49 and associations and other persons carrying on an insurance business, all
50 banks, bankers, banking associations, trust companies, savings banks and sav-
51 ings associations, including savings and loan associations, building and loan
12
1 associations, investment companies and other persons carrying on a banking
2 business, all administrators, guardians, executors, trustees and other fidu-
3 ciaries, and all other persons whatsoever who are now or may hereafter be
4 authorized to invest in bonds or in other obligations of the state, may prop-
5 erly and legally invest funds, including capital, in their control or belong-
6 ing to them. The notes and bonds are also hereby made securities which may
7 properly and legally be deposited with and received by all public officers and
8 bodies of the state or any agency or political subdivision of the state and
9 all municipalities and public corporations for any purpose for which the
10 deposit of bonds or other obligations of the state is authorized by law.
11 39-8113. NOTES AND BONDS OF FINANCING AUTHORITY ARE TAX EXEMPT. The basin
12 project commission and the financing authority perform essential governmental
13 functions in the exercise of the powers conferred upon them under this chap-
14 ter. The notes and bonds of the financing authority issued under this chapter,
15 and the income therefrom, including any profit made on the sale thereof, and
16 all its fees, charges, gifts, grants, revenues, receipts, and other moneys
17 received, pledged to pay or secure the payment of the notes or bonds, are
18 exempt from taxation by the state, municipalities and all other political sub-
19 divisions of the state. Any property acquired or used by the basin project
20 commission consistent with this chapter are exempt from taxation and assess-
21 ments.
22 39-8114. CHAPTER NOT A LIMITATION OF POWERS. This chapter does not
23 restrict or limit the powers which the basin project commission or financing
24 authority might otherwise have under any laws of this state, and this chapter
25 is cumulative to those powers. This chapter provides an additional and alter-
26 native method for actions authorized and shall be regarded as supplemental and
27 additional to powers conferred by other laws. However, the issuance of bonds,
28 notes and other obligations and refunding bonds under this chapter need not
29 comply with the requirements of any other state law applicable to the issuance
30 of bonds, notes and other obligations. Contracts for the construction and
31 acquisition of any facilities undertaken pursuant to this chapter need not
32 comply with any other state law applicable to contracts for the construction
33 and acquisition of state owned property. No proceedings, notice or approval is
34 required for the issuance of any bonds, notes and other obligations or any
35 instrument as security therefor, except as is provided in this chapter.
36 39-8115. INCONSISTENT LAWS -- THIS CHAPTER CONTROLS. If any provision of
37 this chapter is inconsistent with the provisions of any other law, general,
38 specific or local, the provisions of this chapter control.
39 SECTION 3. An emergency existing therefor, which emergency is hereby
40 declared to exist, this act shall be in full force and effect on and after its
41 passage and approval.
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
Moved by Ellsworth
Seconded by Pearce
IN THE HOUSE OF REPRESENTATIVES
HOUSE AMENDMENTS TO H.B. NO. 256
1 AMENDMENTS TO SECTION 2
2 On page 4 of the printed bill, delete line 35, and insert: "representative
3 of the county commission of Spokane county of the state of Washington"; and in
4 line 46, following "duties." insert: "The commission shall distribute and pub-
5 lish a public involvement policy, to include procedures to assure adherence to
6 the open meeting law and the public records act.".
7 On page 5, delete lines 52 through 55.
8 On page 6, in line 1, delete "(i)" and insert: "(h)"; in line 5, delete
9 "(j)" and insert: "(i)"; in line 8, delete "(k)" and insert: "(j)"; in line
10 15, delete "(l)" and insert: "(k)"; in line 17, delete "(m)" and insert:
11 "(l)"; in line 24, delete "(n)" and insert: "(m)"; and in line 31, delete
12 "(o)" and insert: "(n)".
13 AMENDMENT TO SECTION 3
14 On page 12, in line 41, following "approval" insert: ", provided however
15 that Section 1 of this act shall become effective only upon the execution of
16 the order pursuant to Section 39-8106, Idaho Code, and a filing of the order
17 with the Governor and the Secretary of State".
18 CORRECTION TO TITLE
19 On page 1, in line 21, delete "AND"; and also in line 21, following
20 "EMERGENCY" insert: "AND PROVIDING AN EFFECTIVE DATE FOR SECTION 1 OF THIS
21 ACT UPON CERTAIN CIRCUMSTANCES OCCURRING".
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 256, As Amended
BY ENVIRONMENTAL AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO WATER QUALITY; AMENDING SECTION 39-3613, IDAHO CODE, TO STRIKE
3 PROVISIONS ESTABLISHING THE COEUR D'ALENE RIVER COMMISSION; AMENDING TITLE
4 39, IDAHO CODE, BY THE ADDITION OF A NEW CHAPTER 81, TITLE 39, IDAHO CODE,
5 TO ESTABLISH THE BASIN ENVIRONMENTAL IMPROVEMENT ACT, TO PROVIDE A SHORT
6 TITLE, TO EXPRESS THE POLICY OF THE STATE, TO PROVIDE DEFINITIONS, TO PRO-
7 VIDE FOR ESTABLISHMENT OF AGREEMENTS OR COMPACTS FOR PARTICIPATION IN THE
8 BASIN PROJECT, TO PROVIDE THAT THE GOVERNOR SHALL REQUEST RECIPROCAL LEG-
9 ISLATION, TO PROVIDE FOR CREATION OF THE BASIN PROJECT AND TO PROVIDE FOR
10 ESTABLISHMENT OF A BOARD OF COMMISSIONERS, COMPOSITION OF THE BOARD AND
11 POWERS AND DUTIES, TO PROVIDE FOR ESTABLISHMENT OF A BASIN FUND AND
12 FINANCING AUTHORITY AND ITS ADMINISTRATORS AND AUTHORITIES, TO PROVIDE
13 THAT THE FINANCING AUTHORITY MAY ISSUE NOTES AND BONDS, TO PROVIDE THAT
14 THE STATE WILL NOT IMPAIR VESTED RIGHTS CREATED BY NOTES AND BONDS, TO
15 LIMIT LIABILITY AND PROVIDE THAT NOTES AND BONDS ARE NOT A DEBT OF THE
16 STATE, TO PROVIDE THAT THE STATE MAY MAKE GRANTS TO THE FINANCING AUTHOR-
17 ITY, TO PROVIDE THAT NOTES AND BONDS OF THE FINANCING AUTHORITY ARE LEGAL
18 INVESTMENTS, TO PROVIDE THAT NOTES AND BONDS OF THE FINANCING AUTHORITY
19 ARE TAX EXEMPT, TO PROVIDE THAT THE CHAPTER IS SUPPLEMENTAL AND IS NOT A
20 LIMITATION ON POWERS AND TO PROVIDE THAT THE CHAPTER PREVAILS IF OTHER
21 LAWS ARE INCONSISTENT; DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE
22 DATE FOR SECTION 1 OF THIS ACT UPON CERTAIN CIRCUMSTANCES OCCURRING.
23 Be It Enacted by the Legislature of the State of Idaho:
24 SECTION 1. That Section 39-3613, Idaho Code, be, and the same is hereby
25 amended to read as follows:
26 39-3613. CREATION OF BASIN ADVISORY GROUPS. (1) The director, in consul-
27 tation with the designated agencies, shall name, for each of the state's major
28 river basins, no less than one (1) basin advisory group which shall generally
29 advise the director on water quality objectives for each basin and work in a
30 cooperative manner with the director to achieve these objectives. Each such
31 group shall establish by majority vote, operating procedures to guide the work
32 of the group. Members shall be compensated pursuant to section 59-509(c),
33 Idaho Code. The membership of each basin advisory group shall be representa-
34 tive of the industries and interests directly affected by the implementation
35 of water quality programs within the basin and each member of the group shall
36 either reside within the basin or represent persons with a real property
37 interest within the basin. Recognized groups representing those industries or
38 interests in the basin may nominate members of the group to the director. Each
39 basin advisory group named by the director shall reflect a balanced represen-
40 tation of the interests in the basin and shall, where appropriate, include a
41 representative from each of the following: agriculture, mining, nonmunicipal
42 point source discharge permittees, forest products, local government, live-
43 stock, Indian tribes (for areas within reservation boundaries), water-based
2
1 recreation, and environmental interests. In addition, the director shall name
2 one (1) person to represent the public at large who may reside outside the
3 basin. Members named to the basin advisory groups shall, in the opinion of
4 the director, have demonstrated interest or expertise which will be of benefit
5 to the work of the basin advisory group. The director may also name as may be
6 needed those who have expertise necessary to assist in the work of the basin
7 advisory group who shall serve as technical nonvoting advisers to the basin
8 advisory group.
9 (2) The governor shall establish a commission to be known as the Coeur
10 d'Alene River basin commission whose membership is stated below for the Coeur
11 d'Alene River basin, including the north and south forks of the Coeur d' Alene
12 River, the main stem of the Coeur d'Alene River, Lake Coeur d'Alene and the
13 Spokane River to replace and fulfill the duties of the basin advisory group
14 and the watershed advisory group for those rivers and Lake Coeur d'Alene as
15 stated in this section and sections 39-3614 through 39-3616, Idaho Code, as
16 these duties related to heavy metal impacts in the Coeur d'Alene River basin.
17 At the discretion of the governor, the commission may be asked to perform
18 duties other than those specified in sections 39-3613 through 39-3616, Idaho
19 Code. For duties related to sections 39-3613 through 39-3616, Idaho Code, the
20 commission shall report to the director. For all other duties assigned the
21 commission by the governor, the commission shall report to the governor, the
22 speaker of the house of representatives and the president pro tempore of the
23 senate. The governor shall appoint the following members of the commission:
24 one (1) representative of the governor; one (1) representative of the division
25 of environmental quality of the department of health and welfare; one (1) rep-
26 resentative of the department of lands; one (1) representative each of the
27 county governments of Benewah county, Kootenai county and Shoshone county; one
28 (1) representative of the trustees established under the settlement agreement
29 of May 3, 1986, entered in State of Idaho v. Bunker Hill Co., No. 83-3161 (D.
30 Idaho); two (2) representatives of the citizen's advisory committee of the
31 Coeur d'Alene basin restoration project; one (1) representative of the mining
32 industry; and one (1) representative of other affected industries.
33 In addition to the governor's appointees, the commission shall have the
34 following representatives appointed: one (1) representative of the U.S. envi-
35 ronmental protection agency appointed by the agency; one (1) representative of
36 the U.S. department of agriculture and the U.S. department of interior to be
37 appointed jointly by those agencies; and one (1) representative of the Coeur
38 d'Alene tribe appointed by the tribe. The term of a member of the commission
39 shall be three (3) years. The governor may remove at his discretion any mem-
40 bers appointed by him. The commission shall operate by a simple majority vote
41 of the members of the commission. The members of the commission shall elect a
42 chairperson annually from the members of the commission. Members of the com-
43 mission who are not state employees shall be compensated as provided in sec-
44 tion 59-509(b), Idaho Code, if they are not otherwise being compensated for
45 travel costs and per diem for serving on the commission.
46 SECTION 2. That Title 39, Idaho Code, be, and the same is hereby amended
47 by the addition thereto of a NEW CHAPTER, to be known and designated as Chap-
48 ter 81, Title 39, Idaho Code, and to read as follows:
49 CHAPTER 81
50 BASIN ENVIRONMENTAL IMPROVEMENT ACT
51 39-8101. SHORT TITLE. This act may be known and cited as the "Basin Envi-
52 ronmental Improvement Act."
3
1 39-8102. POLICY OF STATE. The Idaho legislature declares that environmen-
2 tal protection and improvement of the Coeur d'Alene basin to protect human
3 health and enhance natural resources is very important to the state. There-
4 fore, it is the policy of the state to provide in this chapter a system for
5 environmental remediation, natural resource restoration and related measures
6 to address heavy metal contamination in the basin. The system provided in
7 this chapter is intended to protect and promote the health, safety and general
8 welfare of the people of Idaho in a manner consistent with local, state, fed-
9 eral and tribal participation and resources.
10 39-8103. DEFINITIONS. As used in this chapter, unless a different meaning
11 clearly appears from the context:
12 (1) "Administrator" means the administrator or a member of the board of
13 administrators of the basin environmental improvement fund and financing
14 authority.
15 (2) "Basin" means the watershed of Coeur d'Alene Lake within the counties
16 of Shoshone, Kootenai and Benewah in the state of Idaho.
17 (3) "Basin environmental improvement fund and financing authority" or
18 "financing authority" means the entity established by the authority of this
19 chapter, and agreements, compacts, reciprocal legislation or resolutions with
20 or by the United States of America, the Coeur d'Alene tribe or the state of
21 Washington to accept and invest funds and finance the activities of the basin
22 project.
23 (4) "Basin environmental improvement project" or "basin project" means
24 the environmental and natural resources restoration and related measures
25 regarding heavy metal contamination in the basin undertaken by the commission.
26 (5) "Basin environmental improvement project commission" or "commission"
27 means the entity organized by the authority of this chapter and agreements,
28 compacts, reciprocal legislation or resolutions with or by the United States
29 of America, the Coeur d'Alene tribe or the state of Washington to implement
30 the basin project.
31 (6) "Board of administrators" or "administrators" means the administra-
32 tor or board of administrators of the basin environmental improvement fund
33 and financing authority.
34 (7) "Board of commissioners" or "commission" means the board of commis-
35 sioners of the basin environmental improvement project commission.
36 (8) "Bonds" or "notes" or "bond anticipation notes" or "other obliga-
37 tions" means any bonds, notes, debentures, interim certificates or other evi-
38 dence of financial indebtedness issued by the financing authority pursuant to
39 this chapter.
40 (9) "Commissioner" means a member of the board of commissioners of the
41 basin environmental improvement project commission.
42 (10) "Executive director" means the executive director of the basin envi-
43 ronmental improvement project commission.
44 39-8104. ESTABLISHMENT OF AGREEMENTS OR COMPACTS FOR PARTICIPATION IN
45 BASIN PROJECT COMMISSION. The director of the department of environmental
46 quality and the attorney general of the state of Idaho or their delegates
47 shall represent the state of Idaho in negotiations with representatives of the
48 state of Washington, the Coeur d'Alene tribe and the United States of America
49 for the purpose of reaching agreements or compacts between the state of Idaho
50 and any or all of the other named governments regarding participation in the
51 basin project commission and the basin financing authority, for the purpose
52 of providing for environmental remediation and natural resource restoration in
53 the Coeur d'Alene basin in a manner consistent with local, state, federal and
4
1 tribal authorities and resources; provided however, that any agreement or com-
2 pact entered into on behalf of the named governments shall not be binding or
3 obligatory upon any of those governments until the agreement or compact is
4 approved by the requisite named governments. The governor of the state of
5 Idaho may enter into any agreement or compact consistent with this chapter.
6 39-8105. GOVERNOR SHALL REQUEST RECIPROCAL LEGISLATION OR RESOLUTION. The
7 governor of the state of Idaho shall advise the chairman of the Coeur d'Alene
8 tribe, the governor of the state of Washington and the president of the United
9 States of America of the enactment of this chapter and request that, if neces-
10 sary, reciprocal resolutions or legislation be enacted by those governments to
11 authorize negotiation and entry into agreements or compacts regarding partici-
12 pation in the basin environmental improvement project commission and financ-
13 ing authority.
14 39-8106. BASIN PROJECT COMMISSION -- ESTABLISHMENT -- COMPOSITION --
15 POWERS -- DUTIES -- FUNDING. (1) The basin environmental improvement project
16 commission is hereby created and shall become operational when the director of
17 the department of environmental quality, by execution of an appropriate order,
18 determines that:
19 (a) Significant funds from any source have been provided to the basin
20 improvement fund and financing authority; or
21 (b) Any one (1) or more agreements or compacts have been entered into
22 between the state of Idaho and the state of Washington, the Coeur d'Alene
23 tribe or the United States of America providing for participation in the
24 basin project commission and financing authority.
25 (2) Any agreement or compact providing for participation in the basin
26 project commission and financing authority shall be consistent with the terms
27 of this chapter.
28 (3) The board of commissioners of the basin project commission shall
29 include one (1) representative of the state of Idaho and one (1) representa-
30 tive from each of the county commissions of Shoshone, Kootenai and Benewah
31 counties of the state of Idaho as appointed by the governor of the state of
32 Idaho. Upon participation of the state of Washington, the Coeur d'Alene tribe
33 or the United States of America through agreement or compact, the board of
34 commissioners shall also include, according to such participation: one (1)
35 representative of the county commission of Spokane county of the state of
36 Washington appointed by the governor of Washington; one (1) tribal council
37 member of the Coeur d'Alene tribe appointed by the council of the Coeur
38 d'Alene tribe; and one (1) representative of the United States of America
39 appointed by the president of the United States of America.
40 (4) The commission shall act by majority vote except that the vote of any
41 commissioner representative of the state of Idaho, the Coeur d'Alene tribe or
42 the United States of America, or the unanimous vote of all three (3) commis-
43 sioners representing Shoshone, Kootenai and Benewah counties, may veto any
44 majority vote, in which event the action is not valid. The commission may
45 establish an advisory group to provide local citizen input to the commission
46 in the performance of its duties. The commission shall distribute and publish
47 a public involvement policy, to include procedures to assure adherence to the
48 open meeting law and the public records act.
49 (5) The commission shall adopt as the basin project workplan a record of
50 decisions approved pursuant to the federal comprehensive environmental respon-
51 sibility compensation and liability act of 1980 (CERCLA), as amended, by the
52 environmental protection agency of the United States of America, the depart-
53 ment of environmental quality of the state of Idaho and, upon its participa-
5
1 tion, the Coeur d'Alene tribe, for environmental remediation and related mea-
2 sures pertaining to contamination by heavy metals in the basin. Amendment of
3 the basin project workplan shall be made by the commission upon approval of
4 the United States environmental protection agency, the Idaho department of
5 environmental quality and the Coeur d'Alene tribe.
6 (6) The commission shall, to the extent that funds are available from the
7 financing authority and any other source, implement the basin project
8 workplan.
9 (7) The commission may select institutional control measures in implemen-
10 tation of the basin project workplan. The measures shall be adopted and imple-
11 mented by appropriate local and tribal governments as a condition of
12 remediation or restoration activities within those jurisdictions.
13 (8) The commission shall appoint an executive director to administer the
14 basin project.
15 (9) The commissioner representing the state of Idaho and, in the event of
16 participation through agreement or compact, the commissioners representing the
17 United States of America and the Coeur d'Alene tribe, shall annually fix and
18 determine, consistent with the basin project workplan and its schedule, the
19 priorities of the basin project, the amount of money required from the financ-
20 ing authority, federal grants and taxation for implementing the basin project
21 priorities including costs of construction and other activities, costs of
22 operation and maintenance of the work, equipment of the basin project, and
23 costs of administration.
24 (10) The commission shall have, within the basin, the authority of a board
25 of commissioners of a flood control district as provided in chapter 31, title
26 42, Idaho Code, and the authority of a board of commissioners of a drainage
27 district as provided in chapters 29 and 30, title 42, Idaho Code.
28 (11) The commission shall have the following powers and duties which may
29 be exercised through the executive director of the basin project commission:
30 (a) To employ personnel as may be necessary to carry out the purposes and
31 objectives of the basin project commission;
32 (b) To sue and be sued in the name of the basin project commission and to
33 make and execute contracts and other instruments necessary or convenient
34 to the exercise of its power;
35 (c) To manage and conduct the business and affairs of the basin project
36 commission, both within and without the basin;
37 (d) To design, construct, operate and maintain structural works and
38 actions as provided by the basin project workplan or procure or contract
39 for the performance of those works and actions or portions thereof by any
40 local, state, tribal or federal governmental entity or any private entity
41 or individual;
42 (e) To prescribe the duties of officers, agents and employees as may be
43 required;
44 (f) To establish the fiscal year of the basin project commission, to keep
45 records of all business transactions of the basin project commission and
46 to provide an annual public accounting of all expenditures;
47 (g) To obtain options upon and acquire by purchase, exchange, lease,
48 gift, grant, bequest, devise, or otherwise, any real or personal property,
49 and improve any properties acquired; to receive income from properties and
50 to expend the income in carrying out the purposes and provisions of the
51 basin project commission; and to lease any of its property or interest
52 therein in furtherance of the purposes and provisions of the basin project
53 commission;
54 (h) To convey rights-of-way and easements for highways, public roads,
55 public utilities, and for other purposes, over basin project property, as
6
1 shall be determined by the commission to be in the best interests of the
2 basin project;
3 (i) To convey by deed, bill of sale, or other appropriate instrument all
4 of the estate and interest of the basin project commission, in any real or
5 personal property;
6 (j) To enter into contracts or agreements with the United States of Amer-
7 ica or any of its agencies, the states of Idaho or Washington or any of
8 their agencies or political subdivisions or the Coeur d'Alene tribe or any
9 of its agencies or subdivisions or private entities or individuals and to
10 cooperate with those governments, agencies, subdivisions, private entities
11 or individuals in effectuating, promoting and accomplishing the purposes
12 of the basin project;
13 (k) To bear its allocated share of the cost of any project resulting from
14 any contract or agreement entered into as provided in this chapter;
15 (l) To assume, administer and maintain pursuant to any agreement or con-
16 tract entered into in accordance with this chapter any environmental
17 remediation or restoration measure within the basin undertaken by or in
18 cooperation with the United States of America or any of its agencies, the
19 states of Idaho or Washington or any of their agencies or subdivisions, or
20 the Coeur d'Alene tribe or any of its agencies or subdivisions, or any
21 combinations thereof;
22 (m) To accept donations, gifts and contributions in money, services,
23 materials, or otherwise, from the United States of America or any of its
24 agencies, or the states of Idaho or Washington or any of their agencies or
25 political subdivisions, or the Coeur d'Alene tribe or any of its agencies
26 or subdivisions, or private entities or individuals, or any combinations
27 thereof, and to expend such moneys, services, or materials in carrying on
28 its operations;
29 (n) To exercise all other powers necessary or helpful in carrying out the
30 purposes and provisions of the basin project commission as provided in
31 this chapter and by agreements or compacts between the states of Idaho and
32 Washington, the Coeur d'Alene tribe and the United States of America.
33 39-8107. BASIN FUND AND FINANCING AUTHORITY -- ESTABLISHMENT -- ADMINIS-
34 TRATORS -- POWERS. (1) The basin environmental improvement fund and financing
35 authority is hereby created and shall become operational when the director of
36 the department of environmental quality, by execution of an appropriate order,
37 determines that significant funds have been provided to the financing author-
38 ity from any source, or any one (1) or more agreements or compacts between the
39 state of Idaho and the state of Washington, the Coeur d'Alene tribe or the
40 United States of America providing for participation in the basin project com-
41 mission and financing authority. The financing authority shall be an indepen-
42 dent public body corporate and politic within the meaning of section 1, arti-
43 cle viii, of the constitution of the state of Idaho, with no power to levy
44 taxes or to obligate the general fund of the state of Idaho.
45 (2) The administrator or board of administrators of the financing author-
46 ity shall consist of one (1) representative appointed by the governor of the
47 state of Idaho. Upon participation in the basin project by agreement or com-
48 pact, one (1) representative shall be appointed by the council of the Coeur
49 d'Alene tribe, one (1) representative shall be appointed by the governor of
50 the state of Washington and one (1) representative shall be appointed by the
51 president of the United States of America. Appointments shall be made on the
52 basis of demonstrated investment and financial management expertise. Each
53 administrator shall serve at the pleasure of his or her respective appointing
54 authority and may be removed and replaced at any time. Administrators shall
7
1 not be compensated. Two (2) or more administrators shall constitute a board
2 and may act by majority vote. Meetings shall be held whenever a majority of
3 administrators so request. The administrator or board of administrators shall
4 direct the activities of the financing authority.
5 (3) The funds of the financing authority may include moneys and any
6 income paid in settlement of any claims or lawsuits regarding heavy metals
7 contamination in the basin, annual appropriations by the states of Idaho and
8 Washington or the Coeur d'Alene tribe, receipts from the issuance of bonds and
9 any other source, public or private. To the extent allowed by law, the funds
10 of the financing authority shall not be considered federal funds and shall be
11 available for use as state matching funds for federal grants.
12 (4) The financing authority may administer its funds to maximize income
13 to fund the basin project. The financing authority is hereby authorized to
14 invest any funds not needed for immediate use or disbursement, including any
15 funds held in reserve, in:
16 (a) Bonds, notes and other obligations of the United States of America or
17 any agency or instrumentality thereof and other securities secured by such
18 bonds, notes or other obligations;
19 (b) Money market funds which are insured or the assets of which are lim-
20 ited to obligations of the United States of America or any agency or
21 instrumentality thereof;
22 (c) Time certificates of deposit and savings accounts; and
23 (d) Commercial paper which, at the time of its purchase, is rated in the
24 highest category by a nationally recognized rating service.
25 (5) The financing authority may contract for services deemed necessary to
26 carry out its duties including, but not limited to, financial, legal and
27 accounting services.
28 (6) The financing authority may provide moneys from its funds to the
29 basin project commission not to exceed such amounts as annually may be
30 requested by the basin project commission.
31 (7) The financing authority shall establish its fiscal year, keep records
32 of all investments, expenditures and business transactions and provide for an
33 annual public accounting.
34 (8) The financing authority may exercise all other powers necessary or
35 appropriate to carry out its corporate purposes including, without limitation,
36 the following:
37 (a) To sue and be sued in its own name;
38 (b) To have an official seal and to alter the seal at its pleasure;
39 (c) To maintain an office at a place or places within this state as it
40 may designate;
41 (d) To hire officers, agents and employees as may be required and to pre-
42 scribe its duties;
43 (e) To make and execute contracts and all other instruments necessary or
44 convenient for the exercise of its powers and functions;
45 (f) To obtain insurance against any loss in connection with its property
46 and other assets in amounts and from insurers it deems desirable;
47 (g) To borrow money and issue bonds and notes or other evidences of
48 indebtedness as hereinafter provided; and
49 (h) To the extent permitted under its contract with the holders of bonds,
50 notes and other obligations of the financing authority, to consent to any
51 modification of any contract, lease or agreement of any kind to which the
52 financing authority is a party.
53 39-8108. FINANCING AUTHORITY MAY ISSUE NOTES AND BONDS -- RELATED POWERS
54 AND DUTIES. (1) The financing authority may issue from time to time its notes
8
1 and bonds in a principal amount as the financing authority determines to be
2 necessary to provide sufficient funds for achieving any of its corporate pur-
3 poses, including the payment of interest on notes and bonds of the financing
4 authority, establishment of reserves to secure notes and bonds, and all other
5 expenditures of the financing authority incident to and necessary or conve-
6 nient to carry out its corporate purposes and powers.
7 (2) The financing authority may issue:
8 (a) Bonds or notes, in one (1) or more series, to finance the basin proj-
9 ect or any portion or portions thereof;
10 (b) Notes in anticipation of appropriations or other revenues;
11 (c) Notes to renew notes; and
12 (d) Bonds to pay notes, including the interest thereon, and whenever it
13 deems refunding expedient, to refund any bonds by the issuance of new
14 bonds, whether the bonds to be refunded have or have not matured, and to
15 issue bonds partly to refund bonds then outstanding and partly for any of
16 its corporate purposes. The refunding bonds may be:
17 (i) Exchanged for bonds to be refunded; or
18 (ii) Sold and the proceeds applied to the purchase, redemption or
19 payment of such bonds.
20 (3) Every issue of its notes and bonds shall be special obligations of
21 the financing authority payable out of such fund or funds as shall be speci-
22 fied by the financing authority.
23 (a) The notes and bonds shall be authorized by resolution or resolutions
24 of the financing authority, shall bear a date or dates and shall mature at
25 a time or times as the resolution or resolutions may provide, except that
26 no note shall mature more than one (1) year from the date of its issue and
27 no bond shall mature more than thirty (30) years from the date of its
28 issue. The bonds may be issued as serial bonds payable in annual
29 installments or as term bonds or as a combination thereof. The notes and
30 bonds shall bear interest at a rate or rates, be in denominations, be in a
31 form, either coupon or registered, carry registration privileges, be exe-
32 cuted in a manner, be payable in a medium of payment, at a place or
33 places, and be subject to terms of redemption as the resolution or resolu-
34 tions may provide. The notes and bonds of the financing authority may be
35 sold by the financing authority, at public or private sale, at a price or
36 prices, at, above, or below par, as the financing authority shall deter-
37 mine.
38 (b) Any resolution or resolutions authorizing any notes or bonds or any
39 issue thereof may contain provisions, which shall be a part of the con-
40 tract or contracts with the holders thereof, as to:
41 (i) Pledging all or any part of the revenues to secure the payment
42 of the notes or bonds or of any issue thereof, subject to such agree-
43 ments with noteholders or bondholders as may then exist;
44 (ii) Pledging all or any part of the assets of the financing
45 authority to secure the payment of the notes or bonds or of any issue
46 of notes or bonds, subject to agreements with noteholders or bond-
47 holders as may then exist;
48 (iii) The setting aside of reserves or sinking funds and the regula-
49 tion and disposition thereof;
50 (iv) Limitations on the purpose to which the proceeds of sale of
51 notes or bonds may be applied;
52 (v) Limitations on the issuance of additional notes or bonds, the
53 terms upon which additional notes or bonds may be issued and secured,
54 and the refunding of outstanding or other notes or bonds;
55 (vi) The procedure, if any, by which the terms of any contract with
9
1 noteholders or bondholders may be amended or abrogated, the amount of
2 notes or bonds the holders of which must consent thereto, and the
3 manner in which such consent may be given;
4 (vii) Limitations on the amount of moneys to be expended by the
5 financing agency for operating expenses of the financing authority;
6 (viii) Vesting in a trustee's or trustees' property, rights, powers
7 and duties in trust as the financing authority may determine, which
8 may include any or all of the rights, powers and duties of the
9 trustee appointed by the bondholders pursuant to this chapter, and
10 limiting or abrogating the right of the bondholders to appoint a
11 trustee under this chapter or limiting the rights, powers and duties
12 of the trustee;
13 (ix) Defining the acts or omissions to act which shall constitute a
14 default in the obligations and duties of the financing authority to
15 the holders of the notes or bonds and providing for the rights and
16 remedies of the holders of the notes or bonds in the event of a
17 default, including as a matter of right the appointment of a
18 receiver; provided however, that these rights and remedies shall be
19 consistent with this chapter and the laws of the state of Idaho;
20 (x) Any other matters, of like or different character, which in
21 any way affect the security or protection of the holders of the notes
22 or bonds.
23 (c) Any pledge made by the financing authority shall be valid and binding
24 from the time when the pledge is made; the revenues, moneys or property so
25 pledged and thereafter received by the financing agency shall immediately
26 be subject to the lien of the pledge without any physical delivery thereof
27 or further act, and the lien of the pledge shall be valid and binding
28 against all parties having claims of any kind in tort, contract or other-
29 wise against the financing authority, irrespective of whether the parties
30 have notice thereof. Neither the resolution nor any other instrument by
31 which a pledge is created need be recorded.
32 (d) Neither any administrator of the financing authority nor any other
33 person executing the notes or bonds are subject to any personal liability
34 or accountability by reason of the issuance thereof.
35 (e) The financing authority, subject to agreements with noteholders or
36 bondholders as may then exist, shall have power out of any funds available
37 therefor to purchase notes or bonds of the financing authority, which
38 shall thereupon be canceled, at a price not exceeding:
39 (i) If the notes or bonds are then redeemable, the redemption
40 price, including redemption premium, if any, then applicable plus
41 accrued interest to the next interest payment thereon; or
42 (ii) If the notes or bonds are not then redeemable, the redemption
43 price applicable on the first date after such purchase upon which the
44 notes or bonds become subject to redemption plus accrued interest to
45 such date.
46 (f) In the discretion of the financing authority, the bonds may be
47 secured by a trust indenture by and between the financing authority and a
48 corporate trustee which may be any trust company or bank having the power
49 of a trust company in the state. The trust indenture may contain provi-
50 sions for protecting and enforcing the rights and remedies of the bond-
51 holders as may be reasonable and proper and not in violation of law,
52 including covenants setting forth the duties of the financing authority in
53 relation to the exercise of its corporate powers and the custody, safe-
54 guarding and application of all moneys. The financing authority may pro-
55 vide by a trust indenture for the payment of the proceeds of the bonds and
10
1 the revenues to the trustee under the trust indenture or other depository,
2 and for the method of disbursement thereof, with safeguards and restric-
3 tions as it may determine. All expenses incurred in carrying out the trust
4 indenture may be treated as a part of the operating expenses of the
5 financing agency. If the bonds are secured by a trust indenture, the bond-
6 holders have no authority to appoint a separate trustee to represent them.
7 (g) Whether or not the notes and bonds are of a form and character as to
8 be negotiable instruments under the terms of the uniform commercial code,
9 the notes and bonds are hereby made negotiable instruments within the
10 meaning, and for all the purposes, of the uniform commercial code, subject
11 only to the provisions of the notes and bonds for registration.
12 (h) In case any of the administrators or officers of the financing
13 authority whose signatures appear on any notes or bonds or coupons shall
14 cease to be administrators or officers before the delivery of the notes or
15 bonds, the signatures shall, nevertheless, be valid and sufficient for all
16 purposes, the same as if the administrators or officers had remained in
17 office until delivery.
18 (4) The financing authority may provide for the issuance of refunding
19 obligations for the purpose of refunding any obligations then outstanding
20 which have been issued under the provisions of this chapter, including the
21 advance refunding of obligations as provided by section 57-504, Idaho Code,
22 and including the payment of any redemption premium thereon and any interest
23 accrued or to accrue to the date of redemption of such obligations and for any
24 corporate purpose of the financing authority. The issuance of the obligations,
25 the maturities and other details thereof, the rights of the holders thereof,
26 and the rights, duties and obligations of the financing authority in respect
27 of the same shall be governed by the provisions of this chapter which relate
28 to the issuance of obligations, insofar as such provisions may be appropriate.
29 (5) Refunding obligations issued as provided in subsection (4) of this
30 section may be sold or exchanged for outstanding obligations issued under this
31 chapter and, if sold, the proceeds thereof may be applied, in addition to any
32 other authorized purposes, to the purchase, redemption or payment of such out-
33 standing obligations. Pending the application of the proceeds of any refunding
34 obligations, with any other available funds, to the payment of the principal,
35 accrued interest and any redemption premium on the obligations being refunded,
36 and, if so provided or permitted in the resolution authorizing the issuance of
37 the refunding obligations or in the trust agreement securing the same, to the
38 payment of any interest on the refunding obligations and any expenses in con-
39 nection with refunding, the proceeds may be invested in direct obligations of,
40 or obligations the principal of and the interest on which are unconditionally
41 guaranteed by the United States of America which shall mature or which shall
42 be subject to redemption by the holders thereof, at the option of the holders,
43 not later than the respective dates when the proceeds, together with the
44 interest accruing thereon, will be required for the purposes intended.
45 (6) All funds of the financing authority except as otherwise authorized
46 or provided in this chapter shall be deposited as soon as practicable in a
47 separate account or accounts in banks or trust companies organized under the
48 laws of the state of Idaho or the national banking association. The moneys in
49 the accounts shall be paid out on checks signed by the chair of the board of
50 administrators or other officers or employees of the financing authority as
51 the administrators authorize. All deposits of the moneys shall, if required by
52 the financing authority, be secured by obligations of the United States of
53 America, of the state or of any municipalities or political subdivisions or
54 agencies of the state at a market value equal at all times to the amount of
55 the deposit, and all banks and trust companies are authorized to give security
11
1 for the deposits.
2 (7) Notwithstanding the provisions of this section, the financing author-
3 ity may contract with the holders of any of its notes or bonds as to the cus-
4 tody, collection, securing, investment and payment of any moneys of the
5 financing authority and of any moneys held in trust or otherwise for the pay-
6 ment of notes or bonds, and to carry out the contract. Moneys held in trust or
7 otherwise for the payment of notes or bonds or in any way to secure notes or
8 bonds and deposits of the moneys may be secured in the same manner as moneys
9 of the financing authority, and all banks and trust companies are authorized
10 to give security for the deposits.
11 (8) The financing authority may contract with the holders of bonds or
12 notes with respect to the rights of such holders in the event of a default in
13 the payment of principal or interest on such bonds or notes.
14 39-8109. NOTES AND BONDS -- STATE WILL NOT IMPAIR VESTED RIGHTS. The
15 state pledges to and agrees with the holders of any notes or bonds issued
16 under this chapter that the state will not limit or alter the rights hereby
17 vested in the financing authority to fulfill the terms of any agreements made
18 with the holders thereof or in any way impair the rights and remedies of the
19 holders until the notes and bonds, together with the interest thereon, with
20 interest on any unpaid installments of interest, and all costs and expenses in
21 connection with any action or proceeding by or on behalf of the holders, are
22 fully met and discharged. The financing authority may include this pledge and
23 agreement of the state in any agreement with the holders of the notes or
24 bonds.
25 39-8110. LIMITATION OF LIABILITY -- NOTES AND BONDS ARE NOT A DEBT OF THE
26 STATE. The notes, bonds or other obligations of the financing authority are
27 not an indebtedness or obligation of the state of Idaho, or of any department,
28 board, commission, agency, political subdivision, body corporate and politic,
29 or instrumentality of a municipality or county within the state, nor shall
30 such notes, bonds or obligations of the financing authority constitute the
31 giving or loaning of the credit of the state of Idaho, or of any department,
32 board, commission, agency, political subdivision, body corporate and politic
33 or instrumentality of a municipality or county within the state, nor shall
34 they be payable out of any funds other than those of the financing authority;
35 and the notes and bonds shall contain on the face thereof a statement to that
36 effect.
37 39-8111. STATE MAY MAKE GRANTS TO FINANCING AUTHORITY. The state may make
38 grants of money or property to the financing authority for the purpose of
39 enabling it to carry out its corporate purposes and for the exercise of its
40 powers including, but not limited to, deposits to the reserve funds. This sec-
41 tion does not limit any other power the state may have to make grants to the
42 financing authority.
43 39-8112. NOTES AND BONDS OF FINANCING AUTHORITY ARE LEGAL INVESTMENTS.
44 The notes and bonds of the financing authority are legal investments in which
45 all public officers and public bodies of this state, its political subdivi-
46 sions, all municipalities and municipal subdivisions, all insurance companies
47 and associations and other persons carrying on an insurance business, all
48 banks, bankers, banking associations, trust companies, savings banks and sav-
49 ings associations, including savings and loan associations, building and loan
50 associations, investment companies and other persons carrying on a banking
51 business, all administrators, guardians, executors, trustees and other fidu-
12
1 ciaries, and all other persons whatsoever who are now or may hereafter be
2 authorized to invest in bonds or in other obligations of the state, may prop-
3 erly and legally invest funds, including capital, in their control or belong-
4 ing to them. The notes and bonds are also hereby made securities which may
5 properly and legally be deposited with and received by all public officers and
6 bodies of the state or any agency or political subdivision of the state and
7 all municipalities and public corporations for any purpose for which the
8 deposit of bonds or other obligations of the state is authorized by law.
9 39-8113. NOTES AND BONDS OF FINANCING AUTHORITY ARE TAX EXEMPT. The basin
10 project commission and the financing authority perform essential governmental
11 functions in the exercise of the powers conferred upon them under this chap-
12 ter. The notes and bonds of the financing authority issued under this chapter,
13 and the income therefrom, including any profit made on the sale thereof, and
14 all its fees, charges, gifts, grants, revenues, receipts, and other moneys
15 received, pledged to pay or secure the payment of the notes or bonds, are
16 exempt from taxation by the state, municipalities and all other political sub-
17 divisions of the state. Any property acquired or used by the basin project
18 commission consistent with this chapter are exempt from taxation and assess-
19 ments.
20 39-8114. CHAPTER NOT A LIMITATION OF POWERS. This chapter does not
21 restrict or limit the powers which the basin project commission or financing
22 authority might otherwise have under any laws of this state, and this chapter
23 is cumulative to those powers. This chapter provides an additional and alter-
24 native method for actions authorized and shall be regarded as supplemental and
25 additional to powers conferred by other laws. However, the issuance of bonds,
26 notes and other obligations and refunding bonds under this chapter need not
27 comply with the requirements of any other state law applicable to the issuance
28 of bonds, notes and other obligations. Contracts for the construction and
29 acquisition of any facilities undertaken pursuant to this chapter need not
30 comply with any other state law applicable to contracts for the construction
31 and acquisition of state owned property. No proceedings, notice or approval is
32 required for the issuance of any bonds, notes and other obligations or any
33 instrument as security therefor, except as is provided in this chapter.
34 39-8115. INCONSISTENT LAWS -- THIS CHAPTER CONTROLS. If any provision of
35 this chapter is inconsistent with the provisions of any other law, general,
36 specific or local, the provisions of this chapter control.
37 SECTION 3. An emergency existing therefor, which emergency is hereby
38 declared to exist, this act shall be in full force and effect on and after its
39 passage and approval, provided however that Section 1 of this act shall become
40 effective only upon the execution of the order pursuant to Section 39-8106,
41 Idaho Code, and a filing of the order with the Governor and the Secretary of
42 State.
STATEMENT OF PURPOSE
RS 10597C1
To provide authority for locally-controlled heavy metal cleanup in
the Coeur d'Alene Basin as opposed to a federally-controlled
Superfund cleanup. This bill will establish authority for creation
of a new Basin Project Commission to succeed and replace the
current planning-oriented Coeur d'Alene River Basin Commission.
The new commission will have the authority necessary to undertake
and maintain long-term cleanup actions.
The bill establishes a separate financing authority with
responsibility for collecting and managing funds from negotiated
settlements and all other federal and state sources.
The implementation of this legislation creating the new commission
is dependent upon one of two specific actions: 1) agreement being
reached between any two of the parties; or, 2) the receipt of
significant funds from the parties or congress.
FISCAL IMPACT
This bill does not make, or affect, any current appropriation;
require any future appropriation or affect the revenues of the
state or any unit of local government. If utilized, cleanup under
this alternative could avoid required state appropriations to meet
Superfund's ten percent (10%) state match of potentially $100
million AND avoid permanent ongoing operation and maintenance
requirements. Funding is anticipated to come from direct federal
appropriations, settlement with responsible parties and state funds
earmarked for Basin cleanup.
Contact
Name: Steve Allred, DEQ
Phone: 373-0240
Lt. Governor Jack Riggs-334-2200
Senator John Goedde-332-1000
Representative Don Pischner-332-1000
STATEMENT OF PURPOSE/FISCAL NOTE H 25