Print Friendly SENATE BILL NO. 1516 – Bond bank authority/college/univ
SENATE BILL NO. 1516
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S1516......................................................by STATE AFFAIRS
BOND BANK AUTHORITY - COLLEGES/UNIVERSITIES - Amends existing law to
provide that a state university, state college or state
professional-technical school shall be defined as a municipality for
purposes of participating in the Idaho bond bank authority.
03/07 Senate intro - 1st rdg - to printing
03/08 Rpt prt - to St Aff
03/08 Rpt out - rec d/p - to 2nd rdg
03/11 2nd rdg - to 3rd rdg
Rls susp - PASSED - 30-0-5
AYES -- Andreason, Brandt, Bunderson, Burtenshaw, Cameron,
Darrington, Deide, Frasure, Geddes, Goedde, Hawkins, Hill, Ipsen,
Keough, King-Barrutia, Little, Lodge, Marley, Noh, Richardson, Risch,
Sandy, Schroeder, Sims, Sorensen, Stegner, Stennett, Thorne, Wheeler,
NAYS -- None
Absent and excused -- Boatright, Branch(Bartlett), Davis, Dunklin,
Floor Sponsor - Sandy
Title apvd - to House
03/12 House intro - 1st rdg - to St Aff
03/13 Rpt out - rec d/p - to 2nd rdg
03/14 2nd rdg - to 3rd rdg
03/15 To St Aff
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature Second Regular Session - 2002
IN THE SENATE
SENATE BILL NO. 1516
BY STATE AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO THE IDAHO BOND BANK AUTHORITY; AMENDING SECTION 67-8702, IDAHO
3 CODE, TO FURTHER DEFINE THE TERM "MUNICIPALITY"; AND PROVIDING AN EFFEC-
4 TIVE DATE.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. That Section 67-8702, Idaho Code, be, and the same is hereby
7 amended to read as follows:
8 67-8702. DEFINITIONS. As used in this chapter:
9 (1) "Authority" or "bond bank authority" means the Idaho bond bank
11 (2) "Bonds" means bonds, notes or other obligations of the authority
12 issued under this chapter.
13 (3) "Municipal bond" means a bond, note or other obligation, including a
14 lease or installment sale agreement, issued or undertaken by a municipality
15 for any purpose authorized by law.
16 (4) "Municipality" means any state university, state college, state
17 professional-technical school, county, city, municipal corporation, school
18 district, irrigation district, sewer district, water district, highway dis-
19 trict or other special purpose district or political subdivision of the state
20 established by law.
21 SECTION 2. This act shall be in full force and effect on and after the
22 date of adoption of Senate Joint Resolution No. 105 of the electorate of the
23 state of Idaho as required by law.
STATEMENT OF PURPOSE
Relating to Idaho Bond Bank Authority, to define the term
municipality to include state university, state college, and state
professional technical school in order to allow participation in
the Idaho Bond Bank.
To achieve higher bond ratings and economies of scale in lowering
bonding and interest costs paid by higher education.
No general fund fiscal impact.
Financial savings on bonds issued by higher education.
Name: Senator John Sandy
STATEMENT OF PURPOSE/FISCAL NOTE S 1516