Idaho Code § 57-724 — Idaho Code / Title 57 / Chapter 7 / Section 57-724
57-724 DETERMINATION OF GAINS AND LOSSES.
Status: in_force

57-724. Determination of gains and losses. (1) Gains. Gains to permanent endowment funds shall be determined by the investment board when the current market value of the permanent endowment fund as of the end of the fiscal year exceeds the gain benchmark market value of the permanent endowment fund. Gains for each permanent endowment fund shall be calculated as of June 30 of each fiscal year by subtracting the gain benchmark market value as of June 30 of such year, after all adjustments set out in this section, from the current market value of the permanent endowment fund as of the same June 30 date. The gain benchmark market value shall begin with the market value of the permanent endowment fund calculated as it existed on June 30, 2000, and shall be adjusted cumulatively as of June 30 of each fiscal year thereafter for inflation during the preceding year based on the unadjusted consumer price index for all urban consumers as published by the United States department of labor, hereafter referred to in this section as "CPI-U," and further adjusted for certain deposits of funds into the permanent endowment fund during the preceding year, such adjustments to be calculated as follows:

(a) Inflation Adjustment. The gain benchmark market value shall be adjusted for inflation as of June 30 of each fiscal year by multiplying the gain benchmark market value as of the commencement of business on July 1 of the preceding calendar year by the sum of one (1) plus the percentage change in the average CPI-U for the fiscal year then ending. The percentage change in the average CPI-U shall be a fraction, the numerator of which is the average CPI-U for the fiscal year then ending less the average CPI-U for the preceding fiscal year, and the denominator of which is the average CPI-U for the preceding fiscal year. The average CPI-U for each fiscal year shall be calculated by dividing the sum of the monthly CPI-U index figures for such fiscal year, July through June, by twelve (12).

(b) Deposit of Funds. After adjustment for inflation, the gain benchmark market value shall be further adjusted by adding the amount of funds deposited into the permanent endowment fund from and including July 1 of the preceding calendar year through and including the June 30 date of adjustment, from any of the following sources:

(i) Land sales proceeds not deposited into the land bank fund under section 58-133(2), Idaho Code;

(ii) Funds transferred from the land bank fund after expiration of the time frame under section 58-133(3), Idaho Code;

(iii) Mineral royalty payments; or

(iv) Such other deposits into the permanent endowment fund as are required by law or otherwise permitted to be added to the permanent endowment fund except for the following:

1. Deposits to make up for losses to the permanent endowment fund;

2. Deposits of earnings reserves if the state board of land commissioners directs that such deposit not be added to the gain benchmark market value; or

3. Other deposits, including bequests, to the permanent endowment fund if the depositor or grantor thereof directs that the deposit not be added to the gain benchmark market value.

(c) Gain Benchmark Floor. Notwithstanding any other provision of this section, in no event shall the gain benchmark market value fall below the permanent corpus balance. For purposes of this subsection, the permanent corpus balance shall be calculated by adding to the permanent endowment fund balance as of June 30, 2000, all deposits to the permanent endowment fund up to and including the June 30 date of adjustment, other than deposits resulting from the investment activities of the permanent endowment fund and deposits made to make up losses to the permanent endowment fund.

(2) Losses. Losses to permanent endowment funds shall be determined by the investment board when the market value of the permanent endowment fund as of the end of the fiscal year is less than the loss benchmark market value of the permanent endowment fund. The investment board shall calculate any annual loss as well as the cumulative loss for each permanent endowment fund as of June 30 of the fiscal year.

(a) Cumulative Loss. The cumulative loss for each permanent endowment fund shall be equal to the difference between the loss benchmark market value as of June 30 of the fiscal year, after all adjustments to the loss benchmark market value as set out below in this subsection (2), and the current market value of the permanent endowment fund as of the same June 30 date.

(b) Annual Loss. The annual loss for a fiscal year shall be equal to the increase, if any, of the cumulative loss as of June 30 of such fiscal year, compared to the cumulative loss as of June 30 of the preceding fiscal year.

(c) Loss Benchmark. The loss benchmark market value for each permanent endowment fund shall begin with the market value of the permanent endowment fund calculated as it existed on June 30, 2000, and shall be adjusted cumulatively as of June 30 of each fiscal year thereafter by adding the amount of funds deposited into the permanent endowment fund from and including July 1 of the preceding calendar year through and including the June 30 date of adjustment, from any of the following sources:

(i) Land sales proceeds not deposited into the land bank fund under section 58-133(2), Idaho Code;

(ii) Funds transferred from the land bank fund after expiration of the time frame under section 58-133(3), Idaho Code;

(iii) Mineral royalty payments; or

(iv) Such other deposits into the permanent endowment fund as are required by law or otherwise permitted to be added to the permanent endowment fund except for the following:

1. Deposits to make up for losses to the permanent endowment fund; and

2. Deposits of earnings reserves.

(d) Loss Recovery. Cumulative losses in permanent endowment funds other than the public school permanent endowment fund may be made up from earnings reserve fund moneys that the state board of land commissioners determines will not be needed for administrative costs or scheduled distributions to each endowment's respective income fund. Cumulative losses in the public school permanent endowment fund shall be made up as follows:

(i) The state board of land commissioners may transfer any funds in the public school earnings reserve fund that it determines will not be needed for administrative costs or scheduled distributions to the public school income fund in the following fiscal year to the public school permanent endowment fund, to make up for all or part of any then existing cumulative losses in the public school permanent endowment fund.

(ii) If a cumulative loss exists in the public school permanent endowment fund as of the end of a fiscal year, and there has also been a cumulative loss at the end of each of the preceding nine (9) fiscal years, for a total of ten (10) consecutive fiscal years ending with a cumulative loss, then, to the extent the then existing cumulative loss is not made up from transfers of earnings reserves under subsection (2)(d)(i) of this section, the legislature shall, by legislative transfer or appropriation authorized during one (1) or both of the next succeeding two (2) regular sessions of the legislature, authorize a deposit to the public school permanent endowment fund in an amount equal to the lesser of:

1. The current cumulative loss; or

2. An amount not less than the annual loss determined in the first year of the preceding ten (10) consecutive fiscal years, provided however, the legislature may offset the amount of this annual loss by any deposits of earnings reserves made by the land board into the public school permanent endowment fund after the end of the fiscal year for which such annual loss was calculated, but only to the extent any such deposit of earnings reserves has not been used previously to offset the amount of a prior legislative deposit under this subparagraph 2.

(iii) The deposit of any transfer or appropriation authorized by the legislature under subsection (2)(d)(ii) of this section shall take place after the end of the fiscal year in which the deposit was authorized by the legislature, and as soon as is practicable once the investment board has calculated the cumulative loss in the public school permanent endowment fund as of the end of the fiscal year; provided however, in the event the cumulative loss as of the end of such fiscal year is less than the amount of the authorized deposit, the deposit shall be reduced to an amount equal to the cumulative loss, and the balance of the authorized deposit shall be returned to the source of the deposit.

History:

[57-724 added 1998, ch. 256, sec. 42, p. 841; am. 2001, ch. 254, sec. 2, p. 920; am. 2004, ch. 132, sec. 2, p. 451; am. 2006, ch. 43, sec. 1, p. 130.]
Idaho Code § 57-141 — Idaho Code / Title 57 / Chapter 1 / Section 57-141
57-141 BRIBERY OF TREASURER A FELONY — PENALTY.
Status: in_force

57-141. Bribery of treasurer a felony — Penalty. The offering, or giving, directly or indirectly, by designated depository, or by any officer or stockholder thereof, or by any other person or persons in its or their behalf, or by its or their knowledge, acquiescence or authority, or in its or their interest, to the treasurer of any depositing unit, of any gift, compensation, reward or inducement, with the intent or for the purpose of inducing said treasurer to deposit public funds in any designated depository contrary to any law of this state, shall constitute a felony, and shall, upon conviction thereof, subject the person offending to imprisonment in the state penitentiary for a period not exceeding two (2) years, or to a fine not exceeding five thousand dollars ($5,000), or to both such fine and imprisonment.

History:

[(57-141) 1921, ch. 256, sec. 36, p. 557; I.C.A., sec. 55-140; am. 1986, ch. 74, sec. 16, p. 228.]
Idaho Code § 57-503 — Idaho Code / Title 57 / Chapter 5 / Section 57-503
57-503 PAYMENT AND CANCELLATION OF OUTSTANDING BONDS.
Status: in_force

57-503. Payment and cancellation of outstanding bonds. As soon as said fund is so received and deposited, the state, county, school district, city, village, highway district, good roads district, irrigation district or drainage district shall immediately pay and cancel such bonds so refunded in the manner and with the effect provided by law for calling and paying such bonds.

History:

[(57-503) 1931, ch. 190, sec. 3, p. 328; I.C.A., sec. 55-503.]
Idaho Code § 57-232 — Idaho Code / Title 57 / Chapter 2 / Section 57-232
57-232 SALE OF BONDS — DEFINITION OF PRIVATE SALE.
Status: in_force

57-232. Sale of bonds — Definition of private sale. Whenever the term "private sale" appears in reference to the sale of bonds, notes or other obligations of any public entity of the state of Idaho, the term "private sale" means the sale of bonds, notes or other obligations pursuant to a written contract, and not to the award of sealed or electronic bids submitted at public sale. "Written contract" means a written contract between the issuer of the bonds, notes or other obligations, as seller, and the purchaser, which contract shall specify the principal amounts, maturities, interest rates, redemption provisions, if any, and other relevant terms of the sale.

History:

[57-232, added 2001, ch. 264, sec. 5, p. 970.]
Idaho Code § 57-101 — Idaho Code / Title 57 / Chapter 1 / Section 57-101
57-101 NAME OF ACT.
Status: in_force

57-101. Name of act. This chapter may be cited as the "Public Depository Law."

History:

[(57-101) 1921, ch. 256, sec. 1, p. 557; I.C.A., sec. 55-101.]
Idaho Code § 57-911 — Idaho Code / Title 57 / Chapter 9 / Section 57-911
57-911 PUBLIC RECORDS — LOCATIONS.
Status: in_force

57-911. Public records — Locations. (1) Records, with regard to the ownership of or security interests in registered public obligations shall be subject to disclosure according to chapter 1, title 74, Idaho Code.

(2) Registration records of the issuer may be maintained at such locations within or without this state as the issuer shall determine.

History:

[57-911, added 1983, ch. 98, sec. 1, p. 215; am. 1990, ch. 213, sec. 87, p. 552; am. 2015, ch. 141, sec. 156, p. 500.]
Idaho Code § 57-602 — Idaho Code / Title 57 / Chapter 6 / Section 57-602
57-602 ENFORCEMENT OF LAWS RELATING TO SINKING FUND LEVIES AND INVESTMENT OF SINKING FUNDS.
Status: in_force

57-602. Enforcement of laws relating to sinking fund levies and investment of sinking funds. Whenever it shall come to the knowledge of the attorney general that any political subdivision in the state has failed to levy proper sinking fund taxes as provided by law or contract, or that any of the sinking funds of any such political subdivision shall have been used, applied or invested contrary to law, he shall begin promptly and prosecute diligently, in the name of the state, appropriate legal action to compel said tax levies for current and future years and full compliance with the law regarding use, application and investment of sinking funds. This section shall not be construed to limit or abridge in any way the rights of holders of any bond or bonds issued by any political subdivision in the state.

History:

[(57-602) 1925, ch. 140, sec. 1, p. 246; I.C.A., sec. 55-602.]
Idaho Code § 57-1501 — Idaho Code / Title 57 / Chapter 15 / Section 57-1501
57-1501 WATERWAYS IMPROVEMENT FUND CREATED — PURPOSE.
Status: in_force

57-1501. Waterways improvement fund created — Purpose. There is hereby created a fund to be known and designated as the "Waterways Improvement Fund" of the state of Idaho, which fund shall be administered by the park and recreation board and shall be used for the protection and promotion of safety, waterways improvement, creation and improvement of parking areas for boating purposes, making and improving boat ramps and moorings, marking of waterways, search and rescue, and all things incident to such purposes including the purchase of real and personal property.

Provided that no such improvements shall be constructed in any county of this state without the approval of the county waterway committee of the plans for such improvements.

History:

[57-1501, added 1963, ch. 174, sec. 3, p. 500; am. 1969, ch. 168, sec. 1, p. 502; am. 1974, ch. 8, sec. 24, p. 35.]
Idaho Code § 57-1502 — Idaho Code / Title 57 / Chapter 15 / Section 57-1502
57-1502 FUND ADMINISTERED BY PARK AND RECREATION BOARD.
Status: in_force

57-1502. Fund administered by park and recreation board. Commencing with the passage and approval of this act, all moneys in or hereafter to come into the waterways improvement fund, which fund was created by Senate Bill No. 256 enacted by the Thirty-seventh Session of the Idaho Legislature, are hereby appropriated to, and are to be administered by the park and recreation board for the purpose of carrying out the provisions of the act which created the waterways improvement fund. All appropriations now or hereafter made shall be subject to the provisions of the Standard Appropriations Act of 1945.

History:

[57-1502, added 1963, ch. 376, sec. 1, p. 1057; am. 1969, ch. 168, sec. 2, p. 502; am. 1974, ch. 8, sec. 25, p. 35.]
Idaho Code § 57-814A — Idaho Code / Title 57 / Chapter 8 / Section 57-814A
57-814A TRANSFER FROM BUDGET STABILIZATION FUND TO GENERAL FUND.
Status: in_force

57-814A. Transfer from budget stabilization fund to general fund. At the end of the fiscal year, if the state board of examiners determines that insufficient general fund moneys are available to meet the level of general fund appropriations authorized by the legislature for that same fiscal year, the board is hereby authorized to transfer certain unencumbered moneys from the budget stabilization fund to the general fund. Such transfers will be the final accounting adjustment to close the fiscal year and shall be limited to the amount of the insufficiency or one-half of one percent (.5%) of the original general fund appropriations made for the fiscal year just ending, whichever is less. Any transfer made pursuant to this section from the budget stabilization fund to the general fund shall be specifically addressed in the governor's executive budget recommendation for the following year which is then subject to review or action by the legislature.

History:

[57-814A, added 1998, ch. 386, sec. 1, p. 1188; am. 2000, ch. 280, sec. 2, p. 903.]
Idaho Code § 57-502 — Idaho Code / Title 57 / Chapter 5 / Section 57-502
57-502 DEPOSIT OF PROCEEDS OF REFUNDING BONDS — LIMITATIONS ON USE.
Status: in_force

57-502. Deposit of proceeds of refunding bonds — Limitations on use. When such refunding bonds are so sold the money received therefor, if state bonds, shall be deposited with the state treasury, or if the bonds of any county, school district, city, village, highway district, good roads district, irrigation district or drainage district, with the treasurer of such county, school district, city, village, highway district, good roads district, irrigation district or drainage district, such money so received shall become a special fund, and shall not be used for any purpose other than the payment and retirement of the outstanding bond issue so refunded; provided, that any balance left over after said bond issue is entirely retired, paid and canceled, may be transferred to the bond interest and sinking fund of the state, county, school district, city, village, highway district, good roads district, irrigation district or drainage district.

History:

[(57-502) 1931, ch. 190, sec. 2, p. 328; I.C.A., sec. 55-502.]
Idaho Code § 57-145 — Idaho Code / Title 57 / Chapter 1 / Section 57-145
57-145 DEPOSIT OF FUNDS BY COUNTY OFFICERS OTHER THAN TREASURER PENDING DEPOSIT WITH TREASURER — MANNER OF DEPOSITING — DUTIES AND LIABILITIES OF OFFICER AND RECEIVING DEPOSITORIES.
Status: in_force

57-145. Deposit of funds by county officers other than treasurer pending deposit with treasurer — Manner of depositing — Duties and liabilities of officer and receiving depositories. All public and other moneys and funds in the official custody of any county officer other than the county treasurer as such and as ex officio public administrator and ex officio tax collector, including checks, drafts and all other instruments for the payment of money acceptable for deposit in banks, may, pending the deposit thereof with the county treasurer or other officer or person entitled by law to receive the same, be deposited on general deposit with interest in any designated depository in such officer's county, provided that such account is insured by the federal government and that said funds are readily accessible for distribution according to law. All interest accrued shall be paid into the county current expense fund, or if there be no designated depository in said county, then in any designated depository in the state of Idaho, to the credit of such officer in his official capacity and subject to payment on demand on the check of such officer or that of his successor in office in like capacity.

No designated depository accepting deposits hereunder shall have any duty or obligation whatever as to the disposition of such funds by the officer depositing the same, nor be liable in any respect for such officer's misappropriation, misapplication or wrongful use or disposal thereof, nor for his failure to deposit the same with the county treasurer or other officer or person entitled to receive the same at the time and in the manner provided by law; but nothing herein shall be construed as in any wise relieving such officer of the duty of paying over such funds to the county treasurer or other officer or person entitled to receive the same at the time and in the manner fixed by law, nor of any other duty or liability with respect thereto, except that such officer shall not be liable either personally or on his official bond for the nonpayment by any designated depository of funds deposited with it pursuant to the provisions of this act.

History:

[57-145, added 1935, ch. 50, sec. 1, p. 96; am. 1969, ch. 142, sec. 11, p. 488; am. 1983, ch. 132, sec. 1, p. 328; am. 1986, ch. 74, sec. 17, p. 228.]
Idaho Code § 57-823 — Idaho Code / Title 57 / Chapter 8 / Section 57-823
57-823 SPECIAL OLYMPICS IDAHO FUND.
Status: in_force

57-823. Special olympics idaho fund. There is hereby created in the state treasury the "Special Olympics Idaho Fund." Moneys in the fund shall be appropriated to the Idaho chapter of special olympics for athletic programs and health screenings for Idaho children and adults with developmental disabilities. Fund moneys will be used to buy sports equipment, uniforms and transportation services. Donations to the fund will also be used to provide school enrichment programs to children with or without disabilities and health screenings for athletes with developmental disabilities. Funds will also be used for training expenses and year-round event competition. Moneys in the fund shall be appropriated for use in Idaho only.

History:

[57-823, added 2008, ch. 218, sec. 2, p. 676.]
Idaho Code § 57-827 — Idaho Code / Title 57 / Chapter 8 / Section 57-827
57-827 STATE PUBLIC DEFENSE FUND.
Status: in_force

57-827. STATE PUBLIC DEFENSE FUND. (1) There is hereby established in the state treasury the state public defense fund to be managed by the state treasurer. Moneys in the fund shall consist of:

(a) Moneys transferred to the fund pursuant to section 57-811, Idaho Code;

(b) Legislative appropriations to the fund;

(c) On and after October 1, 2024, any fees or reimbursement ordered pursuant to sections 19-6011(7) and 19-6015, Idaho Code, or distributed pursuant to section 31-3201I(16), Idaho Code;

(d) Any bequests or donations to the fund; and

(e) Interest earned on idle moneys in the fund.

(2) Moneys in the fund shall be used as determined by legislative appropriation to fulfill the state's obligation to provide indigent public defense pursuant to the sixth amendment of the United States constitution and section 13, article I of the constitution of the state of Idaho.

History:

[57-827, added 2022, ch. 318, sec. 58, p. 1030; am. 2023, ch. 200, sec. 9, p. 546; am. 2023, ch. 220, sec. 38, p. 685.]
Idaho Code § 57-137 — Idaho Code / Title 57 / Chapter 1 / Section 57-137
57-137 RESPONSIBILITY FOR LOSS THROUGH INSOLVENCY OF BANK.
Status: in_force

57-137. Responsibility for loss through insolvency of bank. Where the treasurer in accordance with the terms and provisions of this chapter has deposited and kept on deposit any public moneys in designated depositories, he shall not be liable personally or upon his official bond for any public moneys that may be lost by reason of the failure or insolvency of any such depository.

History:

[(57-137) 1921, ch. 256, sec. 33, p. 557; am. 1925, ch. 45, sec. 15, p. 63; I.C.A., sec. 55-136.]
Idaho Code § 57-910 — Idaho Code / Title 57 / Chapter 9 / Section 57-910
57-910 DEPOSITS FOR SECURITY.
Status: in_force

57-910. Deposits for security. Obligations issued by public entities under the laws of one or more states, territories, possessions, or the District of Columbia, which are in registered form, whether or not represented by an instrument, and which, except for their form, satisfy the requirements with regard to security for deposits of moneys of public agencies prescribed pursuant to any law of this state, shall be deemed to satisfy all such requirements even though they are in registered form if a security interest in such obligations is perfected on behalf of the public agency whose moneys are so deposited.

History:

[57-910, added 1983, ch. 98, sec. 1, p. 215.]
Idaho Code § 57-1205 — Idaho Code / Title 57 / Chapter 12 / Section 57-1205
57-1205 GRAZING BOARD CENTRAL COMMITTEE — POWERS AND DUTIES.
Status: in_force

57-1205. Grazing board central committee — Powers and duties. (1) State district grazing boards may establish a central committee to act together in matters of common interest which shall be known as the Idaho state grazing boards central committee. The central committee shall consist of two (2) members selected by and from the membership of each of the state district grazing boards. The members so selected shall serve at the pleasure of their respective state district grazing boards.

(2) The central committee shall:

(a) Select its own officers, secretary, advisers and consultants and have such committees as it may deem necessary;

(b) Adopt its own rules for the calling and holding of meetings and the carrying out of such instructions as may be received from a majority of the state district grazing boards.

(3) State district grazing boards are authorized and empowered to make such use of the central committee as they deem proper. The central committee shall not engage in any activity or project except when and as authorized by a majority of the state district grazing boards. The central committee shall not incur any expense incident to its duties and activities except as authorized by a majority of the state district grazing boards.

History:

[57-1205, added 1994, ch. 249, sec. 2, p. 795; am. 1995, ch. 113, sec. 2, p. 384.]
Idaho Code § 57-106 — Idaho Code / Title 57 / Chapter 1 / Section 57-106
57-106 SUPERVISING BOARD.
Status: in_force

57-106. Supervising board. "Supervising board" is the official governing body of a depositing unit.

History:

[(57-106) 1921, ch. 256, sec. 5, p. 557; I.C.A., sec. 55-106.]
Idaho Code § 57-831 — Idaho Code / Title 57 / Chapter 8 / Section 57-831
57-831 TIME SENSITIVE EMERGENCY REGISTRY FUND.
Status: in_force

57-831. time sensitive emergency registry fund. There is hereby created and established in the state treasury the time sensitive emergency registry fund to which shall be deposited the revenues derived from grants, appropriations or other sources of funds. All moneys now or hereafter in the fund are hereby dedicated for the purpose of contracting for and obtaining the services of a continuous registry of all time sensitive emergency incident patients in the state of Idaho and maintaining a cooperative exchange of information with other states providing a similar TSE incident registry. The Idaho military division is charged with the administration of this fund for the purposes specified herein. All claims against the fund shall be examined, audited and allowed in the manner now or hereafter provided by law for claims against the state of Idaho.

History:

[(57-831) 57-2005, added 2002, ch. 329, sec. 2, p. 930; am. 2014, ch. 147, sec. 13, p. 409; am. and redesig. 2025, ch. 94, sec. 17, p. 460.]
Idaho Code § 57-721 — Idaho Code / Title 57 / Chapter 7 / Section 57-721
57-721 MANAGEMENT BY MANAGER OF INVESTMENTS — APPOINTMENT OF CUSTODIAN.
Status: in_force

57-721. Management by manager of investments — Appointment of custodian. (1) The investment board shall contract with or employ a manager of investments to manage the permanent endowment funds, the earnings reserve funds, and such other funds as the investment board is authorized to invest. The manager of investments who is employed or contracted with shall, subject to the direction of the investment board, exert control over the funds as though the manager of investments were the owner thereof.

(2) The investment board may select and contract with a minimum of one (1) bank or trust company to act as custodian of fund assets and provide safekeeping thereof.

History:

[57-721, added 1969, ch. 244, sec. 8, p. 764; am. 1972, ch. 69, sec. 4, p. 140; am. 1997, ch. 162, sec. 1, p. 467; am. 1998, ch. 256, sec. 37, p. 839; am. 2000, ch. 65, sec. 2, p. 146; am. 2007, ch. 263, sec. 3, p. 781.]
Idaho Code § 57-727 — Idaho Code / Title 57 / Chapter 7 / Section 57-727
57-727 MANAGER OF INVESTMENTS — STAFF — LEGAL ADVISORS.
Status: in_force

57-727. Manager of investments — Staff — Legal advisors. (1) With the approval of two-thirds (2/3) of the members of the board, a manager of investments and other portfolio managers may be employed or contracted with who shall perform such managerial activities and functions as the board may direct. The manager of investments and portfolio managers shall serve at the pleasure of the board in nonclassified positions, if such persons are employees. The manager of investments and portfolio managers may either be employed by the board or serve pursuant to contract. The salary or compensation of the manager of investments and portfolio managers shall be set by the board, subject to approval of the governor, and be paid from appropriations made therefor. The manager of investments and portfolio managers shall be bonded in an amount established by the board if these persons are employees. If these functions are performed pursuant to contract, the contract shall contain a clause to provide for bonding of the contractor's personnel.

(2) The board may authorize the employment of whatever staff it deems necessary for the administration of the board's business. The manager of investments may hire portfolio managers and other necessary staff who shall hold their respective positions subject to the rules of the administrator of the division of human resources promulgated pursuant to chapter 52, title 67, Idaho Code. The salaries of all staff members shall be paid from appropriations made therefor.

(3) The director of the department of finance shall have access to any and all books and records maintained by the manager of investments and his staff as the board may deem necessary.

(4) The board shall be furnished adequate and qualified legal advisors by the attorney general's office.

(5) All current expenses, capital outlay, and travel expenses shall be paid from appropriations made therefor.

(6) The board shall, upon request of the agency involved, furnish advice to the treasurer, the manager of the state insurance fund, and the public employee retirement board, and the board may, upon request of the agency, invest funds of the requesting agency.

History:

[57-727, as added by 1971, ch. 262, sec. 1, p. 1060; am. 1974, ch. 22, sec. 54, p. 592; am. 1977, ch. 206, sec. 1, p. 570; am. 1977, ch. 229, sec. 2, p. 683; am. 1986, ch. 68, sec. 1, p. 193; am. 1997, ch. 162, sec. 4, p. 469; am. 1999, ch. 370, sec. 24, p. 1009; am. 2000, ch. 65, sec. 3, p. 146.]
Idaho Code § 57-132 — Idaho Code / Title 57 / Chapter 1 / Section 57-132
57-132 DEPOSITS BY TAX COLLECTOR AND PUBLIC ADMINISTRATOR.
Status: in_force

57-132. Deposits by tax collector and public administrator. It is hereby made the duty of the tax collector and public administrator of every county of this state to deposit any and all sums of money coming into his hands by virtue of his office in a depository designated by the supervising board under the provisions of this chapter, and any such moneys so deposited shall be a part of the public moneys as defined in this chapter, but shall remain subject to withdrawal by such tax collector or public administrator so depositing the same. Such sums while so on deposit in said depository, shall be held in separate accounts respectively designated as "Tax Collector's Account" and "Public Administrator's Account."

History:

[(57-132) 1921, ch. 256, sec. 28-A, as added by 1925, ch. 45, sec. 12, p. 63; I.C.A., sec. 55-131; am. 1969, ch. 142, sec. 7, p. 488.]
Idaho Code § 57-223 — Idaho Code / Title 57 / Chapter 2 / Section 57-223
57-223 SEPARABILITY.
Status: in_force

57-223. Separability. Should any portion of this act for any reason be declared unconstitutional, invalid or ineffective, all other portions hereof which can be given effect shall remain in full force and effect notwithstanding such partial defect, it being the intent of this act that each portion hereof is adopted alone on its merits independent of each and every other portion.

History:

[(57-223) 1927, ch. 262, sec. 20, p. 546; I.C.A., sec. 55-223.]
Idaho Code § 57-717 — Idaho Code / Title 57 / Chapter 7 / Section 57-717
57-717 DEFINITIONS.
Status: in_force

57-717. Definitions. The following words and phrases, when used in this chapter, shall, for the purposes of this chapter, have the meanings respectively ascribed to them in this section, except in those instances where the context clearly indicates a different meaning:

(1) "Board" and "investment board" mean the endowment fund investment board herein established.

(2) "Endowment fund" means the financial proceeds of lands granted to or acquired by the state by or from the general government and managed by the state board of land commissioners pursuant to section 8, article IX, of the constitution of the state of Idaho.

(3) "Income" means dividends and interest, which shall be distributable income within the meaning of this chapter.

History:

[57-717, added 1969, ch. 244, sec. 4, p. 764; am. 1972, ch. 69, sec. 2, p. 140; am. 1974, ch. 22, sec. 51, p. 592; am. 2007, ch. 263, sec. 1, p. 779.]
Idaho Code § 57-224 — Idaho Code / Title 57 / Chapter 2 / Section 57-224
57-224 REDEMPTION.
Status: in_force

57-224. Redemption. The treasurer of the issuing corporation, upon presentation to him for payment of any legally issued and unpaid bond or coupon, on or after the date of maturity therein specified, shall redeem the same without any further warrant or order from the governing board of the issuing corporation, or any other officer thereof, but no bond shall be redeemed prior to maturity except upon the order of any such governing board. Said treasurer shall note in his bond register, in spaces therein provided for such purposes, the date of redemption and the amount of each bond or coupon by him redeemed from time to time, and shall indicate, by legibly perforating or stamping in ink on the face thereof, that each such bond or coupon has been redeemed and the date of payment, and shall, at the end of each month, or at such other time as he may be required by law to report to, or settle his accounts with, the governing board of the issuing corporation, or its auditor, clerk or secretary, surrender with such report or settlement the canceled coupons or bonds so redeemed as vouchers evidencing the payment thereof. It shall be the duty of the auditor, clerk or secretary of the issuing corporation, as the case may be, to enter in his bond register the date of payment and amount of each canceled coupon so surrendered to him by the treasurer, and in case any bond is redeemed prior to the ultimate maturity thereof, he shall ascertain that all unmatured coupons originally issued with any such bond are attached thereto at the time of redemption.

History:

[(57-224) 1927, ch. 262, sec. 21, p. 546; I.C.A., sec. 55-224.]
Idaho Code § 57-1110 — Idaho Code / Title 57 / Chapter 11 / Section 57-1110
57-1110 ADDITIONAL TAX ON FILING INCOME TAX CREDITED TO PERMANENT BUILDING FUND.
Status: in_force

57-1110. Additional tax on filing income tax credited to permanent building fund. The state tax commission of the state of Idaho is hereby directed to deposit ten dollars ($10.00) for each tax return it processes in regard to which the taxpayer is required to pay the tax imposed by sections 63-3082 through 63-3087, Idaho Code, directly to the credit of the permanent building fund.

History:

[57-1110, added 1961, ch. 43, sec. 6, p. 66; am. 1997, ch. 23, sec. 1, p. 32.]
Idaho Code § 57-140 — Idaho Code / Title 57 / Chapter 1 / Section 57-140
57-140 NEGLECT OF TREASURER — PENALTY.
Status: in_force

57-140. Neglect of treasurer — Penalty. If the treasurer of any depositing unit shall wilfully fail or refuse at any time to do or perform any act required of him by the provisions of this law relative to the deposit of public funds, he shall be guilty of a misdemeanor, and upon conviction thereof, he shall be sentenced to pay a fine not exceeding $5000.

History:

[(57-140) 1921, ch. 256, sec. 35, p. 557; I.C.A., sec. 55-139.]
Idaho Code § 57-404 — Idaho Code / Title 57 / Chapter 4 / Section 57-404
57-404 REGISTRATION TO BE WITHOUT COST TO HOLDER.
Status: in_force

57-404. Registration to be without cost to holder. The registration of any coupon bond as to principal only, or as to both principal and interest, shall be effected by such treasurer or official performing the duties of treasurer without cost to the holder of any such coupon bond or bonds.

History:

[(57-404) 1921, ch. 89, sec. 4, p. 167; I.C.A., sec. 55-404.]
Idaho Code § 57-1101 — Idaho Code / Title 57 / Chapter 11 / Section 57-1101
57-1101 CREATION OF PERMANENT BUILDING FUND.
Status: in_force

57-1101. Creation of permanent building fund. There is hereby created in the state treasury, a permanent building fund.

History:

[57-1101, added 1947, ch. 116, sec. 1, p. 274.]
Idaho Code § 57-225 — Idaho Code / Title 57 / Chapter 2 / Section 57-225
57-225 BONDS ISSUED UNDER FORMER LAWS.
Status: in_force

57-225. Bonds issued under former laws. All bonds issued or authorized under the provisions of any law or laws herein amended, repealed or affected before the effective date of this act, and all proceedings relative to the same and to the redemption and payment thereof shall be governed and continue to be governed by the provisions of such law or laws and the same are hereby continued in force for such purpose notwithstanding the enactment of this act.

History:

[(57-225) 1927, ch. 262, sec. 23, p. 546; I.C.A., sec. 55-225.]