SENATE CONCURRENT RESOLUTION NO. 133

2008 Legislation

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SENATE CONCURRENT RESOLUTION NO. 133<br /> – Lava Hot Springs, improvements

View Statement of Purpose / Fiscal Impact

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Bill Status


SCR133...........................................................by FINANCE
LAVA HOT SPRINGS - Stating findings of the Legislature and authorizing the
Lava Hot Springs Foundation to enter into an agreement or agreements with
the Idaho State Building Authority for the purpose of financing and
providing certain improvements and recreational equipment for the Lava Hot
Springs Foundation.

03/05    Senate intro - 1st rdg - to printing
03/06    Rpt prt - to 10th Ord
03/07    10th Ord - ADOPTED - voice vote
    Floor Sponsor - Bilyeu
    Title apvd - to House
03/10    House intro - 1st rdg - to 2nd rdg
03/11    2nd rdg - to 3rd rdg
03/12    3rd rdg - ADOPTED - 65-3-2
      AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
      Block, Bock, Boe, Bolz, Bowers, Brackett, Bradford, Chadderdon,
      Chavez, Chew, Clark, Collins, Durst, Eskridge, Hart, Henbest,
      Henderson, Jaquet, Killen, King, Labrador, Lake, LeFavour,
      Loertscher, Luker, Marriott, Mathews, McGeachin, Moyle, Nielsen,
      Nonini, Pasley-Stuart, Patrick, Pence, Raybould, Ringo, Roberts,
      Ruchti, Rusche, Sayler, Schaefer, Shepherd(02), Shepherd(08),
      Shirley, Shively, Smith(30), Smith(24), Snodgrass, Stevenson, Thayn,
      Thomas, Trail, Vander Woude, Wills, Wood(27), Wood(35), Mr. Speaker
      NAYS -- Hagedorn, Harwood, Mortimer
      Absent and excused -- Crane, Kren
    Floor Sponsor - Brackett
    Title apvd - to Senate
03/13    To enrol - Rpt enrol - Pres signed
03/14    Sp signed
03/17    To Secretary of State

Bill Text




                                                                       
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-ninth Legislature                  Second Regular Session - 2008

                                                                       

                                       IN THE SENATE

                            SENATE CONCURRENT RESOLUTION NO. 133

                                    BY FINANCE COMMITTEE

  1                               A CONCURRENT RESOLUTION
  2    STATING FINDINGS OF THE LEGISLATURE AND  PROVIDING  LEGISLATIVE  AUTHORIZATION
  3        AND  APPROVAL FOR THE LAVA HOT SPRINGS FOUNDATION OF THE STATE OF IDAHO TO
  4        ENTER INTO AN AGREEMENT  OR  AGREEMENTS  WITH  THE  IDAHO  STATE  BUILDING
  5        AUTHORITY  TO  FINANCE  AND  PROVIDE CERTAIN IMPROVEMENTS AND RECREATIONAL
  6        EQUIPMENT.

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

  8        WHEREAS, current facilities for use of the Lava Hot Springs Foundation are
  9    inadequate and new improvements  and  additional  recreational  equipment  are
 10    appropriate to meet the needs of the Lava Hot Springs Foundation; and
 11        WHEREAS, it is advantageous to arrange for financing of the new facilities
 12    through  the Idaho State Building Authority in order to take advantage of tax-
 13    exempt financing.
 14        NOW, THEREFORE, BE IT RESOLVED by the members of the Second  Regular  Ses-
 15    sion  of the Fifty-ninth Idaho Legislature, the Senate and the House of Repre-
 16    sentatives concurring therein, that the Lava Hot  Springs  Foundation  of  the
 17    State  of  Idaho is hereby authorized to enter into an agreement or agreements
 18    with the Idaho State Building Authority, upon such terms and conditions as may
 19    be reasonable and necessary, for the purpose of financing and  providing  cer-
 20    tain  improvements and recreational equipment for the Lava Hot Springs Founda-
 21    tion.
 22        BE IT FURTHER RESOLVED that this resolution shall for all purposes consti-
 23    tute prior legislative approval in  accordance  with  Section  67-6410,  Idaho
 24    Code,  with respect to the agreement or agreements and the facilities referred
 25    to herein.

Statement of Purpose / Fiscal Impact


                   STATEMENT OF PURPOSE

                         RS 17677

This concurrent resolution provides the Lava Hot Springs 
Foundation authority to seek financing through the Idaho State 
Building Authority to finance and construct new recreation 
improvements for the Olympic Swimming Pool at the Lava Hot 
Springs facility.  The Lava Hot Springs Foundation has 
determined that the installation of additional hydro-slide tubes 
to augment existing recreational equipment at the facility is in 
the interest of the public.


                       FISCAL IMPACT

There is no General Fund fiscal impact.  The estimated 
$1,650,000 cost of the hydro-slide tubes and related financing 
costs are to be paid from annual lease payments made by the 
Foundation over a 15 year period to the Idaho State Building 
authority from swimming pool revenues.  Annual lease payments 
are estimated at $160,000 based on a 15 year, 5%, $1.65 million 
bond.  The annual lease costs of the new improvements for the 
Foundation will be funded by increased attendance and possibly 
by an increase in admission fees of up to one dollar and fifty 
cents ($1.50)




Contact

Name:  Mark Lowe, Executive Director
Phone: 1-208-776-5221
       Lava Hot Springs Foundation
 

STATEMENT OF PURPOSE/FISCAL NOTE		       SCR 133