TITLE 42

IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION

CHAPTER 17

DEPARTMENT OF WATER RESOURCES — WATER RESOURCE BOARD

42-1754.  Allocation of fund. The Idaho water resource board revolving development fund shall be allocated for use:

(a)  To the board for a project which it deems to be "in the public interest" and which, in its opinion, further implements any extant Idaho state water plan, in such amounts as are necessary for preparation of a feasibility study of the project, engineering services in preparing designs and specifications, and for construction of the project.

(b)  As loans from the revolving development fund which may be approved by the board and made to irrigation districts, canal or irrigation companies, water users’ associations, municipal or private corporations, or, in special cases when approved by the board, to individuals to finance project costs, provided, however, that no loans shall be made to finance feasibility studies except as a part of overall project costs.

(c)  To establish reserve accounts or guarantee funds in the state treasury to aid in the funding of water projects. Interest earned on such moneys invested by the state treasurer shall be paid into the water resource board revolving development fund.

(d)  To the board to finance joint ventures for project construction with federal agencies, neighboring states, legal subdivisions of the state, private corporations, or other organizations, and including the costs of feasibility studies, investigations, and other preparatory expenses, for purposes consistent with those for which the fund is established, and the board is authorized to use the fund for these purposes.

(e)  To the board to finance feasibility studies, investigations, and other preparatory expenses for projects it intends to fund through the sale of revenue bonds or through use of funds from other sources.

(f)  To the board for payment of costs associated with the issuance and repayment of the board’s revenue bonds.

History:

[42-1754, added 1969, ch. 333, sec. 5, p. 1051; am. 1979, ch. 154, sec. 1, p. 469; am. 2005, ch. 362, sec. 5, p. 1150.]