Section 57-201 – TITLE OF ACT.
57-201. TITLE OF ACT. This act shall be known as the "Municipal Bond Law" of the state of Idaho. History: [(57-201) 1927, ch. 262, sec. 1, p. 262; I.C.A., sec. 55-201.]
Section 57-202 – APPLICATION OF ACT — DEFINITIONS.
57-202. APPLICATION OF ACT — DEFINITIONS. All bonds, including funding and refunding bonds, hereafter issued, under lawful authority, by any county, city, village or highway district of the state of Idaho, excepting local street and sewer improvement bonds issued under the provisions of chapter 41, title 42 and chapter 31, title 50, shall be issued […]
Section 57-203 – AUTHORIZATION OF BONDS.
57-203. AUTHORIZATION OF BONDS. Whenever the governing board of any such corporation shall deem it advisable to issue the negotiable coupon bonds thereof for any authorized purpose, such governing board shall provide therefor by ordinance or resolution, duly passed and adopted and spread at length on the permanent record of its proceedings, which ordinance or […]
Section 57-204 – BONDS — FORM AND RECITALS.
57-204. BONDS — FORM AND RECITALS. Each bond shall be numbered consecutively and shall be payable and paid to bearer, in numerical order, lowest numbers first, and shall state and recite upon the face thereof the purpose for which the same is issued, the principal amount thereof, rate of interest thereon, date of issue, time […]
Section 57-205 – BONDS — EXECUTION AND SIGNING.
57-205. BONDS — EXECUTION AND SIGNING. Each bond shall be executed and signed in the corporate name as follows, viz: by the mayor of an issuing city; by the chairman of the board of trustees of an issuing village, and by the chairman or president of the governing board of an issuing county or highway […]
Section 57-206 – BONDS — INTEREST COUPONS — FORM AND RECITALS.
57-206. BONDS — INTEREST COUPONS — FORM AND RECITALS. The interest coupons which shall be attached to each such bond shall be numbered from one upwards consecutively commencing with that coupon first maturing, and all such interest coupons shall state on the face thereof the amount thereof, name of the issuing corporation, the identifying series […]
Section 57-207 – BONDS — DENOMINATION.
57-207. BONDS — DENOMINATION. The denominations of each such bond shall be one thousand dollars ($1,000) or any even multiple thereof not exceeding one hundred thousand dollars ($100,000) as fixed by ordinance or resolution prior to the issuance thereof; provided, that bond number one (1) of each series or issue may be issued in any […]
Section 57-208 – BONDS — INTEREST RATE.
57-208. BONDS — INTEREST RATE. All such bonds shall bear interest at a rate or rates as may be fixed by any such governing board prior to the issuance of such bonds, which interest shall be payable semiannually (or as specially provided for hereinbefore) on such dates as may be fixed by any such governing […]
Section 57-209 – BONDS AND INTEREST COUPONS — WHERE PAYABLE.
57-209. BONDS AND INTEREST COUPONS — WHERE PAYABLE. Such bonds and interest coupons shall be made payable and be payable at the office of the treasurer of the issuer or at the office of the treasurer of the State of Idaho, or at some bank or trust company in the state of Idaho or in […]
Section 57-210 – BONDS — MAXIMUM TERM.
57-210. BONDS — MAXIMUM TERM. No bonds shall be issued to run for a longer term than thirty (30) years from the date of the bonds. History: [(57-210) 1927, ch. 262, sec. 4, subd. (g), p. 546; I.C.A., sec. 55-210; am. 1963, ch. 183, sec. 3, p. 542; am. 1969, ch. 238, sec. 2, p. […]
Section 57-211 – BONDS — AMORTIZED MATURITIES.
57-211. BONDS — AMORTIZED MATURITIES. The bonds of any one (1) issue shall mature and be payable upon an annual amortization plan, the first annual amortized principal payment shall mature and be payable within two (2) years from and after the date of the bonds, and the various annual maturities shall, as nearly as practicable, […]
Section 57-212 – BONDS FOR EACH PURPOSE A DISTINCT SERIES.
57-212. BONDS FOR EACH PURPOSE A DISTINCT SERIES. All bonds authorized by the vote of the electors upon a distinct proposition submitted unto them or authorized by any governing board where no popular election is required by law and for one purpose, shall constitute a distinct series, the bonds of which may be issued by […]
Section 57-213 – BONDS — REGISTRATION.
57-213. BONDS — REGISTRATION. After the sale of any such bonds and before the issuance by delivery to the purchaser thereof, the same shall be registered as required hereinafter, and the officer or officers making such registration shall certify the fact of such registration by him upon the back of each bond. History: [(57-213) 1927, […]
Section 57-214 – SALE OF BONDS — PROCEDURE — MINIMUM PRICE.
57-214. SALE OF BONDS — PROCEDURE — MINIMUM PRICE. Funding and refunding bonds shall be sold as provided in sections 57-214 through 57-218, Idaho Code, or they may be issued by way of exchange for unpaid indebtedness or outstanding bonds to be funded or refunded thereby, as may be determined by any such governing body. […]
Section 57-215 – SALE OF BONDS — NOTICE AND REQUEST FOR BIDS — PUBLICATION.
57-215. SALE OF BONDS — NOTICE AND REQUEST FOR BIDS — PUBLICATION. (1) If bonds are sold at public sale, notice of the intention to sell any such bonds and requesting bids therefor shall be published in the name of the governing body of any such issuer in the official newspaper thereof for at least […]
Section 57-216 – SALE OF BONDS — CONTENTS OF NOTICE — BIDS — DEPOSIT BY BIDDER — ACCEPTANCE OR REJECTION OF BIDS.
57-216. SALE OF BONDS — CONTENTS OF NOTICE — BIDS — DEPOSIT BY BIDDER — ACCEPTANCE OR REJECTION OF BIDS. A notice of public sale shall set forth the intention of the issuing corporation to sell such bonds or a specified part thereof and shall request and require sealed or electronic bids therefor and require […]
Section 57-217 – SALE OF BONDS — DISCOUNT OR COMMISSION TO BIDDER PROHIBITED — EMPLOYMENT OF EXPERT SERVICES AUTHORIZED.
57-217. SALE OF BONDS — DISCOUNT OR COMMISSION TO BIDDER PROHIBITED — EMPLOYMENT OF EXPERT SERVICES AUTHORIZED. No discount or commission shall be allowed or paid on or for any such sale to any purchaser or bidder, directly or indirectly, for or on account of any legal or other services rendered by any such bidder’s […]
Section 57-218 – FUNDING AND REFUNDING BONDS — ISSUANCE AFTER APPLICATION OF AVAILABLE MONEYS TO PAYMENT OF OUTSTANDING BONDS.
57-218. FUNDING AND REFUNDING BONDS — ISSUANCE AFTER APPLICATION OF AVAILABLE MONEYS TO PAYMENT OF OUTSTANDING BONDS. If any governing body shall determine that the outstanding indebtedness of any such corporation may be funded or refunded, to the profit and benefit of such corporation and without incurring any additional liability by the issuance of funding […]
Section 57-219 – REGISTRATION OF BONDS — LIABILITY OF TREASURER.
57-219. REGISTRATION OF BONDS — LIABILITY OF TREASURER. After the sale of any such bonds and before the issuance by delivery to the purchaser thereof, and before the delivery of any funding or refunding bonds which may be issued by way of exchange for any outstanding indebtedness or bonds funded or refunded thereby, all of […]
Section 57-220 – APPLICATION OF PROCEEDS.
57-220. APPLICATION OF PROCEEDS. The proceeds of any such bonds shall not be applied to, or used for, any purpose or purposes, other than that for which such bonds are issued, and such proceeds shall, until properly disbursed, be kept in a fund separate and apart from all proceeds of other bond issues and other […]