Section 67-6401 – SHORT TITLE.
67-6401. SHORT TITLE. This chapter may be referred to as and cited as "Idaho State Building Authority Act." History: [67-6401, added 1974, ch. 111, sec. 1, p. 1263.]
Section 67-6402 – DEFINITIONS.
67-6402. DEFINITIONS. As used in this chapter the following words and terms have the following meanings, unless a different meaning clearly appears from the context: (a) "Authority" means the Idaho state building authority created and established pursuant to section 67-6403, Idaho Code. (b) "Bonds," "notes" or "bond anticipation notes" and "other obligations" mean any bonds, […]
Section 67-6403 – CREATION OF AUTHORITY.
67-6403. CREATION OF AUTHORITY. There is hereby created and established an independent public body corporate and politic to be known as the Idaho state building authority to carry out the provisions of this act. The authority is hereby constituted a public instrumentality exercising public and essential governmental functions, and the exercise by the authority of […]
Section 67-6404 – DECLARATION OF POLICY.
67-6404. DECLARATION OF POLICY. It is hereby declared: (a) the functions of government have multiplied many times since the admission of the state of Idaho into the union in 1890; (b) in view of the many increased functions of government, it is necessary that proper provision of office space and related facilities for the many […]
Section 67-6405 – APPOINTMENT AND REMOVAL OF COMMISSIONERS.
67-6405. APPOINTMENT AND REMOVAL OF COMMISSIONERS. (a) The powers of the authority shall be vested in a board of seven (7) commissioners appointed by the governor for terms of five (5) years with advice and consent of a majority of the members of the senate. No commissioner appointed after January 1, 1978, shall also serve […]
Section 67-6406 – EXECUTIVE DIRECTOR.
67-6406. EXECUTIVE DIRECTOR. (a) The commissioners shall employ an executive director who shall also be the secretary and who shall administer, manage and direct the affairs and business of the authority, subject to the policies, control and direction of the commissioners. The commissioners may employ technical experts and such other officers, agents and employees, permanent […]
Section 67-6407 – CONFLICT OF INTEREST.
67-6407. CONFLICT OF INTEREST. No commissioner or employee of the authority shall acquire any interest direct or indirect in any facility financed under this act or in any property included or planned to be included in any such facility, nor shall he have any interest direct or indirect in any contract or proposed contract for […]
Section 67-6408 – NO FORFEITURE OF OFFICE.
67-6408. NO FORFEITURE OF OFFICE. Notwithstanding the provisions of any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his office or employment by reason of his acceptance of membership on the authority or his service thereon. History: [67-6408, added 1974, ch. 111, sec. 8, p. […]
Section 67-6409 – GENERAL POWERS OF THE AUTHORITY.
67-6409. GENERAL POWERS OF THE AUTHORITY. The authority is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purposes, including, without limitation, the following: (a) sue and be sued in its own name; (b) have an official seal and to alter the same at pleasure; (c) […]
Section 67-6410 – PROCEDURE PRIOR TO FINANCING BUILDING DEVELOPMENTS OR BUILDING PROJECTS.
67-6410. PROCEDURE PRIOR TO FINANCING BUILDING DEVELOPMENTS OR BUILDING PROJECTS. Notwithstanding any other provision of this act, the authority is not empowered to finance any facility pursuant to section 67-6409, Idaho Code, unless: (a) Prior approval by the legislature has been given by concurrent resolution authorizing a state body or community college district to have […]
Section 67-6411 – COOPERATION WITH MUNICIPALITIES, STATE BODIES OR COMMUNITY COLLEGE DISTRICTS.
67-6411. COOPERATION WITH MUNICIPALITIES, STATE BODIES OR COMMUNITY COLLEGE DISTRICTS. (a) The authority may obtain the aid and cooperation of the municipalities in which such facilities are to be located and shall have the power to enter into: (1) such agreements and arrangements as it deems necessary or advisable to obtain such aid and cooperation; […]
Section 67-6412 – EXEMPTION FROM TAXATION.
67-6412. EXEMPTION FROM TAXATION. (a) As set forth in the declaration of finding and purpose herein, the authority will be performing an essential governmental function in the exercise of the powers conferred upon it by this chapter, and the notes and bonds of the authority issued pursuant to this act, and the income therefrom including […]
Section 67-6413 – ANNUAL REPORT.
67-6413. ANNUAL REPORT. The authority shall submit to the governor within ninety (90) days after the end of its fiscal year a complete and detailed report setting forth: (a) its operations and accomplishments; (b) its receipts and expenditures during such fiscal year in accordance with the categories or classifications established by the authority for its […]
Section 67-6414 – BONDING PROVISIONS.
67-6414. BONDING PROVISIONS. (a) (1) The authority shall have power and is hereby authorized to issue from time to time its notes and bonds in such principal amount as the authority shall determine to be necessary to provide sufficient funds for achieving any of its corporate purposes, including the payment of interest on notes and […]
Section 67-6415 – REFUNDING OBLIGATIONS — ISSUANCE.
67-6415. REFUNDING OBLIGATIONS — ISSUANCE. The authority may provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of […]
Section 67-6416 – REFUNDING OBLIGATIONS — USE OF PROCEEDS.
67-6416. REFUNDING OBLIGATIONS — USE OF PROCEEDS. Refunding obligations issued as provided in section 67-6412 may be sold or exchanged for outstanding obligations issued under this act and, if sold, the proceeds thereof may be applied, in addition to any other authorized purposes, to the purchase, redemption or payment of such outstanding obligations. Pending the […]
Section 67-6417 – DEPOSIT OF AUTHORITY MONEYS.
67-6417. DEPOSIT OF AUTHORITY MONEYS. (a) All moneys of the authority except as otherwise authorized or provided in this act shall be deposited as soon as practicable in a separate account or accounts in banks or trust companies organized under the laws of the state or national banking association. The moneys in such accounts shall […]
Section 67-6418 – CONTRACT OF THE STATE.
67-6418. CONTRACT OF THE STATE. The state does hereby pledge to and agree with the holders of any notes or bonds issued under this chapter that the state will not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreements made with the said holders thereof or in […]
Section 67-6419 – LIMITATION OF LIABILITY ON AUTHORITY OBLIGATIONS.
67-6419. LIMITATION OF LIABILITY ON AUTHORITY OBLIGATIONS. The notes, bonds or other obligations of the authority shall not be or become an indebtedness or obligation of the state of Idaho, or of any department, board, commission, agency, political subdivision, body corporate and politic, or instrumentality of or county within the state nor shall such notes, […]
Section 67-6420 – REMEDIES OF BOND AND NOTE HOLDERS.
67-6420. REMEDIES OF BOND AND NOTE HOLDERS. (a) In the event that the authority shall default in the payment of principal of or interest on any issue of notes and bonds after the same shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of thirty […]