TITLE 67

STATE GOVERNMENT AND STATE AFFAIRS

CHAPTER 87

IDAHO BOND BANK AUTHORITY

67-8722.  Municipal bonds. Any municipality which receives sales tax funds from the state may, in addition to any other powers it may have and without regard to the restrictions or requirements that might otherwise apply under the laws of the state but subject to the requirements of section 3, article VIII, of the constitution of the state of Idaho and any other limitations imposed upon municipalities by the constitution of the state of Idaho:

(1)  Issue municipal bonds for sale to the authority, with such interest rate, maturity, redemption, security, remedies and other terms as the municipality may agree with the authority;

(2)  Levy and collect property taxes, fees, rates, charges and other assessments to pay or secure the municipal bonds issued by the municipality for the sale to the authority;

(3)  Pledge or assign to the authority or its designee property taxes, fees, rates, charges and other assessments, and rights to enforce the collection and application thereof, to pay or secure the municipal bonds issued by the municipality for sale to the authority; and

(4)  Take any other actions and enter into such other contracts and agreements including, without limitation, leases on installment sale agreements for credit enhancement or liquidity, with such terms as it may determine with the authority to be necessary or appropriate to accomplish the purposes of the authority under this chapter.

History:

[67-8722, added 2001, ch. 130, sec. 1, p. 459.]