Section 33-5301 – TITLE.
33-5301. TITLE. This chapter shall be known as the "Idaho School Bond Guaranty Act." History: [33-5301, added 1999, ch. 328, sec. 1, p. 840.]
Section 33-5302 – DEFINITIONS.
33-5302. DEFINITIONS. (1) "Board" means the board of trustees of a school district, including a specially chartered district, existing now or later under the laws of the state. (2) "Bond" means any general obligation bond or refunding bond issued after the effective date of this chapter. (3) "Default avoidance program" means the school bond guaranty […]
Section 33-5303 – STATE’S GUARANTY — MONITORING OF FINANCIAL SOLVENCY CONTRACT WITH BONDHOLDERS — GUARANTY — LIMITATION AS TO CERTAIN REFUNDED BONDS.
33-5303. STATE’S GUARANTY — MONITORING OF FINANCIAL SOLVENCY CONTRACT WITH BONDHOLDERS — GUARANTY — LIMITATION AS TO CERTAIN REFUNDED BONDS. (1) (a) The state of Idaho pledges to and agrees with the holders of any bonds that the state will not alter, impair, or limit the rights vested by the default avoidance program with respect […]
Section 33-5304 – PROGRAM ELIGIBILITY — OPTION TO FOREGO GUARANTY.
33-5304. PROGRAM ELIGIBILITY — OPTION TO FOREGO GUARANTY. (1) (a) Any school district through its board of trustees or its superintendent may apply to the state treasurer for the state’s guaranty of its eligible bonds under this chapter. Where voter approval of a bond issuance is required by law, the school district must have such […]
Section 33-5305 – STATE TO MONITOR FISCAL SOLVENCY OF SCHOOL DISTRICTS — DUTIES OF STATE TREASURER AND STATE SUPERINTENDENT OF PUBLIC INSTRUCTION.
33-5305. STATE TO MONITOR FISCAL SOLVENCY OF SCHOOL DISTRICTS — DUTIES OF STATE TREASURER AND STATE SUPERINTENDENT OF PUBLIC INSTRUCTION. (1) The state treasurer shall: (a) Receive the following from each school district applying for the state’s guaranty under this chapter and each school district receiving the state’s guaranty under this chapter: (i) A copy […]
Section 33-5306 – PAYING AGENT TO PROVIDE NOTICE — STATE TREASURER TO EXECUTE TRANSFER TO PAYING AGENTS — EFFECT OF TRANSFER.
33-5306. PAYING AGENT TO PROVIDE NOTICE — STATE TREASURER TO EXECUTE TRANSFER TO PAYING AGENTS — EFFECT OF TRANSFER. (1) (a) The superintendent of each school district with outstanding, unpaid bonds shall transfer moneys sufficient for the scheduled debt service payment to its paying agent at least fifteen (15) days before any principal or interest […]
Section 33-5307 – STATE FINANCIAL ASSISTANCE INTERCEPT MECHANISM — DUTIES OF STATE TREASURER AND ATTORNEY GENERAL — INTEREST AND PENALTY PROVISIONS.
33-5307. STATE FINANCIAL ASSISTANCE INTERCEPT MECHANISM — DUTIES OF STATE TREASURER AND ATTORNEY GENERAL — INTEREST AND PENALTY PROVISIONS. (1) (a) If one (1) or more payments on bonds are made by the state treasurer as provided in this chapter, the state treasurer shall: (i) Immediately intercept any payments from any source of operating moneys […]
Section 33-5308 – BACKUP LIQUIDITY ARRANGEMENTS.
33-5308. BACKUP LIQUIDITY ARRANGEMENTS. (1) If, at the time the state is required to make a debt service payment under its guaranty on behalf of a school district, sufficient moneys of the state are not on hand and available for that purpose, the state treasurer shall gather sufficient funds to make the debt service payment […]
Section 33-5308A – STATE NOTES ISSUED TO FINANCE DEFAULT AVOIDANCE PROGRAM.
33-5308A. STATE NOTES ISSUED TO FINANCE DEFAULT AVOIDANCE PROGRAM. State notes issued by the state treasurer pursuant to section 33-5308, Idaho Code, shall comply with the following: (1) Each series of notes issued shall mature not later than twelve (12) months from the date the notes are issued, or the end of the fiscal year, […]
Section 33-5309 – UNLIMITED SALES TAX RECEIPTS PLEDGE — STATE CONTROLLER DUTIES.
33-5309. UNLIMITED SALES TAX RECEIPTS PLEDGE — STATE CONTROLLER DUTIES. (1) (a) There is hereby created in the state treasury the public school guarantee fund. Moneys in the fund shall be used only for payment of debt service payments under the provisions of this chapter, repayment of borrowing undertaken under the provisions of this chapter, […]
Section 33-5310 – CREDIT ENHANCEMENT PROGRAM.
33-5310. CREDIT ENHANCEMENT PROGRAM. If approved to participate in the Idaho school bond guaranty program established in this chapter, a school district may also seek credit enhancement, as authorized pursuant to section 57-728, Idaho Code, by applying therefor pursuant to section 57-728(3), Idaho Code. History: [33-5310, added 1999, ch. 328, sec. 1, p. 848; am. […]