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SENATE BILL NO. 1516

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Daily Data Tracking History

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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,
      Williams
      NAYS -- None
      Absent and excused -- Boatright, Branch(Bartlett), Davis, Dunklin,
      Ingram
    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

Bill Text

                                                                        
                                                                        
  ||||              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
 10    authority.
 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 / Fiscal Impact

                     STATEMENT OF PURPOSE
                            
                         RS 12202
                            
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.
  
  
  
  
                      FISCAL IMPACT
                            
No general fund fiscal impact.
  
Financial savings on bonds issued by higher education.
  
Contact
Name:  Senator John Sandy
Phone: 332-1305
         
      
STATEMENT OF PURPOSE/FISCAL NOTE              S 1516