Section 70-2116 – TAX EXEMPTION.
70-2116. TAX EXEMPTION. Any bonds issued under the provisions of this act, their transfer, and income therefrom, including any interest paid or payable thereon and profit made on the sale thereof, shall be exempt at all times from all taxation in the state of Idaho. History: [70-2116, added 1981, ch. 228, sec. 1, p. 465.]
Section 70-2117 – SEVERABILITY.
70-2117. SEVERABILITY. If any one or more sections or provisions of this act, or the application thereof to any person (including municipal corporations and political subdivisions) or circumstance, shall ever be held by any court of competent jurisdiction to be invalid, the remaining provisions of this act and the application thereof to persons (including municipal […]
Section 70-2101 – SHORT TITLE.
70-2101. SHORT TITLE. This act may be referred to and cited as the "Idaho Port District Economic Development Financing Act." History: [70-2101, added 1981, ch. 228, sec. 1, p. 458.]
Section 70-2102 – DECLARATION OF NECESSITY AND PURPOSE — LIBERAL CONSTRUCTION.
70-2102. DECLARATION OF NECESSITY AND PURPOSE — LIBERAL CONSTRUCTION. (1) The legislature of the state of Idaho hereby finds: (a) That lack of sufficient employment opportunities in port districts seriously endangers the public health and welfare; (b) That there is a need to encourage the acquisition, construction, installation or equipping of economic development facilities which […]
Section 70-2103 – DEFINITIONS.
70-2103. DEFINITIONS. In this act, unless the context otherwise clearly requires, the terms used herein shall have the meanings ascribed to them as follows: (1) "Commission" means the port commission of any port district. (2) "Person" means any individual, partnership, copartnership, firm, company, corporation (including public utilities), association, joint stock company, trust, estate, or any […]
Section 70-2104 – POWERS.
70-2104. POWERS. Each port district shall have the following powers together with all powers incidental thereto or necessary for the performance thereof: (1) To determine the location of any project, whether upon real estate owned by the port district or by any person, and the manner of construction of any project to be financed under […]
Section 70-2105 – CONFLICT OF INTEREST.
70-2105. CONFLICT OF INTEREST. In the event a member of a commission is the person or is an officer, partner, employee, stockholder or beneficiary, in the case of a trust, of the person with whom the port district proposes to contract under the provisions of this act with respect to the acquisition and financing of […]
Section 70-2106 – BONDS.
70-2106. BONDS. All revenue bonds authorized to be issued hereunder may be issued as serial bonds or as term bonds or a combination of both types. All revenue bonds so issued shall be payable solely out of the revenues and receipts derived by the port district from the project provided with the proceeds thereof as […]
Section 70-2107 – PUBLICATION OF PROCEEDINGS — CONTEST PERIOD.
70-2107. PUBLICATION OF PROCEEDINGS — CONTEST PERIOD. The resolution authorizing the issuance of any revenue bonds hereunder and the execution of an indenture as security therefor shall be published one (1) time in a newspaper of general circulation in the port district. Any such indenture, or other instrument authorized in such resolution to be executed, […]
Section 70-2108 – SECURITY FOR REVENUE BONDS.
70-2108. SECURITY FOR REVENUE BONDS. The principal, interest and premium, if any, on any revenue bonds issued hereunder shall be secured by a pledge of the revenues and receipts out of which the same shall be made payable and may also be payable out of proceeds from the sale of the project acquired with proceeds […]