reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › 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 three (3) consecutive publications therein at weekly intervals. The date of sale thereof, as therein designated, shall be after the lapse of at least twenty-one (21) full days from and after the date of the first publication of such notice, counting the date of the first publication as the first of such twenty-one (21) days; and if said corporation shall not have designated an official newspaper the publication shall be had in any newspaper published and of general circulation within the corporate limits of said issuing corporation as specially designated or approved by any such governing body; and if there shall be no newspaper published within the corporate limits of any such issuing corporation, such notice shall be published in a newspaper of general circulation in the county of such issuing corporation as designated or approved by any such governing body. The mayor or chairman or presiding officer of any such corporation and the clerk or secretary thereof shall cause such publication to be made and given as prescribed herein, subject to the direction, designation or approval of any such governing body as herein set forth. It shall be proper to commence the publication of such notice of sale prior to, or contemporaneous with, the publication of the notice of the election at which the proposition of the issuance of any such bonds shall be submitted; provided only that such bonds shall not be sold until their issuance shall have been duly authorized.
(2) If bonds are sold at private sale, notice of the intention to sell such bonds at private sale shall be published once in the name of the issuer in a newspaper of general circulation within the issuer’s boundaries at least three (3) days prior to the time scheduled by the issuer for approving the private sale of such bonds. Failure to comply with this requirement shall not invalidate the sale of the bonds, so long as the issuer has made a good faith effort to comply.
History:
[(57-215) 1927, ch. 262, sec. 5, subd. (b), p. 546; I.C.A., sec. 55-215; am. 1977, ch. 244, sec. 1, p. 721; am. 2001, ch. 264, sec. 3, p. 968.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › 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 bidders to submit bids specifying (a) the lowest rate of interest and premium, if any above par, at which the bidder will purchase such bonds, or (b) the lowest rate of interest at which the bidder will purchase such bonds at par, and shall require each such bid (except any bid which may be received from the state of Idaho or its department of finance) to be accompanied by a cashier’s check, a certified check, or surety bond made payable to the issuing corporation in such amount as the governing body deems necessary or by a cash deposit in like amount, which such cashier’s check, certified check, surety bond or cash deposit shall be returned to any such bidder if his bid be not accepted, and which cashier’s check, certified check, surety bond or cash deposit of any successful bidder who shall fail, neglect, or refuse to accept the bonds so sold to complete and to pay therefor in accordance with the terms of such successful bid within thirty (30) days following the acceptance thereof, shall be forfeited to the issuing corporation. Such notice shall state the maximum rate of interest which such bonds may legally bear and that none of the bonds shall be sold for less than par and accrued interest to date of delivery thereof, and shall specify the place and designate the day and hour, respectively, as the place where, and the time prior to which, any such sealed or electronic bids will be received for the purchase of such bonds; and at said place and time so specified in such notice and fixed or approved by the governing body as the place and time for the consideration of any such bids the said governing body and the mayor, chairman, or other chief executive officer or presiding officer of the governing body shall meet in public special or regular meeting for the purpose of considering such bids, awarding the bonds, or rejecting any and all bids therefor. At such meeting or at an adjournment thereof the said bonds shall be sold to the bidder making the best bid therefor, subject, as aforesaid, to the right of any such governing body to reject any and all bids and to readvertise any such bonds for sale in the manner herein prescribed, or at private sale, until said bonds have been sold.
History:
[(57-216) 1927, ch. 262, sec. 5, subd. (c), p. 546; I.C.A., sec. 55-216; am. 1951, ch. 45, sec. 1, p. 55; am. 2001, ch. 264, sec. 4, p. 969.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › 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 attorneys or employees in connection with the issuance or sale of such bonds: provided, that the governing body of any such issuer may employ expert legal or other expert services in connection with the authorization and issuance of such bonds if in the judgment of such governing body it will be to the financial interest of the issuer so to do.
History:
[(57-217) 1927, ch. 262, sec. 5, subd. (d), p. 546; I.C.A., sec. 55-217.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › 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 or refunding bonds, it may provide by ordinance or resolution for the issuance of such funding or refunding bonds in an amount equal to the unpaid principal and interest of such outstanding bonds or other indebtedness: provided, that before any such governing body shall issue any bonds to refund the outstanding bonded indebtedness or to fund any of the other outstanding indebtedness of any such issuing corporation as in this section specially provided and in this act elsewhere provided, it shall cause all moneys on hand in the corporate treasury available for the payment and discharge of any such outstanding bonded indebtedness, or to the payment and discharge of any such unpaid other indebtedness of said corporation, to be applied in payment and discharge thereof, and shall issue such refunding bonds, or funding bonds, respectively, for the remainder only of the bonded indebtedness, or other indebtedness, respectively.
History:
[(57-218) 1927, ch. 262, sec. 5, subd. (e), p. 546; I.C.A., sec. 55-218.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › 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 such bonds shall be duly registered by the county auditor or by the clerk or secretary of the issuing corporation in numerical order in a permanent public record book kept by him in his said office for that purpose, and thereafter the governing body or governing board of the issuing corporation may from time to time in accordance with the terms of sale of such bonds deliver or cause to be delivered any or all of such bonds to the treasurer of such issuer, who shall file his receipt therefor in the office of such auditor, clerk or secretary of the issuing corporation. Such treasurer shall, as and when such bonds are delivered to him as aforesaid, forthwith also register the same in a permanent public record book kept by him in his said office for that purpose, and thereafter such treasurer shall deliver such bonds to the purchaser or purchasers thereof as directed by the governing body of the issuing corporation and upon receipt by him of the purchase price thereof, and shall note in such register the name or names of the purchasers to whom such bonds are delivered and date of delivery thereof. All registration of bonds shall show the number, date, and amount of each bond, rate of interest thereon, date of maturity thereof, place or places of payment, and the number and denominations of attached coupons, together with any other proper data describing such bonds for the purpose of future identification thereof.
The treasurer shall be liable upon his official bond for any loss or damage suffered by the issuing corporation by reason of any delivery by him of any such bond in violation of the provisions of this section.
History:
[(57-219) 1927, ch. 262, sec. 6, p. 546; I.C.A., sec. 55-219.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › 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 funds of the issuing corporation; provided, however, that when, in the judgment of the governing board of the issuing corporation, the proceeds of any bond issue should be temporarily invested pending application of such proceeds to the purposes for which the bonds were issued, the governing board of the issuing corporation may invest the proceeds of such issue or any part thereof in registered securities of the United States. Any unexpended balance remaining after the accomplishment of such purpose or purposes shall be used and applied only to and for the payment and redemption of such bonds and the payment of interest thereon, pro tanto.
History:
[(57-220) 1927, ch. 262, sec. 7, p. 546; I.C.A., sec. 55-220; am. 1949, ch. 210, sec. 1, p. 444.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-221 - SECURITY.

57-221. SECURITY. The full faith and credit of the issuing corporation, and all taxable property within its limits, as constituted at the time of the issuance of such bonds, are, shall be, and must continue, pledged to the full and prompt payment of the principal and interest thereof. Should any tax for the payment of interest on any bonds issued under the provisions of this act at any time not be levied or collected in time to meet such payments, the interest on such bonds shall be paid out of the current expense, general expense or general fund of such issuing corporation, and the money so used for such payment of interest must thereafter be repaid to the fund from which so taken out of the first taxes collected for the payment of such interest.
History:
[(57-221) 1927, ch. 262, sec. 8, p. 546; I.C.A., sec. 55-221.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-222 - TAX LEVIES AND SINKING FUND.

57-222. TAX LEVIES AND SINKING FUND. The governing board of the issuing corporation shall levy and cause to be levied annually at the time when and in the manner in which other general taxes of such issuing corporation are levied, upon all the taxable property within its limits, in addition to all other authorized taxes and assessments, a tax or assessment sufficient to meet the payments of principal and interest on such bonds as the same mature, and to constitute a sinking fund for the payment of the principal amount of said bonds within thirty (30) years from the time of contracting the indebtedness evidenced thereby and in accordance with the provisions made for the payment of the principal and interest of such bonds and also to constitute a sinking fund for the payment of the principal thereof, as theretofore provided by ordinance or by resolution and as required by the constitution and law of Idaho; and such taxes shall be levied, assessed, certified, extended and collected by the proper officers and at the times, all as fixed by law and as other taxes are levied, assessed, certified, extended and collected in, for and by the issuing corporation and by the same officers thereof until the principal and interest of all such bonds and interest thereon shall be fully paid. All of such taxes when collected shall be credited by the proper receiving officers to separate funds distinct from the funds for the payment of principal or interest on bonds of any other series or issue, and apart from any other funds of the issuing corporation.
History:
[(57-222) 1927, ch. 262, sec. 9, p. 546; I.C.A., sec. 55-222; am. 1969, ch. 238, sec. 3, p. 753.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-223 - SEPARABILITY.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-224 - REDEMPTION.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-225 - BONDS ISSUED UNDER FORMER LAWS.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-226 - EFFECTIVE DATE OF ACT.

57-226. EFFECTIVE DATE OF ACT. This act shall take effect and be in force from and after the first day of July, A.D. 1927.
History:
[(57-226) 1927, ch. 262, sec. 24, p. 546; I.C.A., sec. 55-226.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-227 - ISSUANCE AND SALE OF BONDS AND SECURITIES TO UNITED STATES GOVERNMENT — INTEREST RATE.

57-227. ISSUANCE AND SALE OF BONDS AND SECURITIES TO UNITED STATES GOVERNMENT — INTEREST RATE. Bonds and securities of all kinds heretofore or hereafter authorized, issued by any issuing corporation or district (hereinafter called the "issuer" and as hereinafter specified), whether such bonds and securities be issued for such issuer itself or for any other taxing or assessment district within its limits, and whether payable in whole or in part out of and from general taxes or payable in whole or in part out of and from the earnings to be derived from any utility, system, construction, work, or works, belonging to or operated by any such issuer, or payable in whole or in part out of and from "local" or "benefit" assessments upon lands within any assessment district or assessment subdivision within any such issuer, or payable from any other source, may be sold to the United States Government or to any department, corporation or agency thereof or to any department, corporation, agency or body, created, organized or existing under or pursuant to any act of congress, by private sale without giving any prior notice thereof by publication or otherwise and in such manner as the governing authority of such issuer may provide; provided, only, that all bonds and securities sold and issued under the authority of this act shall be sold, if now required by existing law, at not less than par and accrued interest.
History:
[57-227, added 1935 (1st E.S.), ch. 59, sec. 1, p. 160; am. 1970, ch. 133, sec. 19, p. 309.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-228 - BONDS — AMORTIZED MATURITIES.

57-228. BONDS — AMORTIZED MATURITIES. It shall be proper to provide with respect to any bonds now required to be amortized or payable serially, that the annual maturities for the first five (5) maturities shall be of such annual principal amounts as may be fixed by any such governing authority, and that such amortized or serial annual maturities shall commence to be payable at any time on or before five (5) years after the date of said bonds, and that any bonds, or any part thereof, issued under the authority of this act, shall be redeemable prior to their fixed maturities and at the option of the issuer, as provided by the governing board or authority of any such issuer.
History:
[57-228, added 1935 (1st E.S.), ch. 59, sec. 2, p. 160.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-229 - “ISSUER” DEFINED.

57-229. "ISSUER" DEFINED. The issuing corporations, districts, and subdivisions hereinbefore referred to and described as "issuer," shall include any county, city, village, school district, highway district, irrigation district, drainage district, taxing district, assessment district or any public corporation or municipal corporation authorized by existing law to issue bonds, securities or other evidences of indebtedness for itself or for any other taxing or assessment district therein or department thereof.
History:
[57-229, added 1935 (1st E.S.), ch. 59, sec. 3, p. 160.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-230 - POWERS OF ISSUER.

57-230. POWERS OF ISSUER. It shall be optional with any such issuer, at its discretion, to exercise all or any of the powers conferred by this act in connection with the adoption and exercise by any such issuer of the provisions and powers granted by existing law.
History:
[57-230, added 1935 (1st E.S.), ch. 59, sec. 4, p. 160.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-231 - ISSUANCE OF BONDS BY THE STATE OF IDAHO OR POLITICAL SUBDIVISIONS — VARIABLE INTEREST RATES PERMITTED — CREDIT ENHANCEMENT ARRANGEMENTS.

57-231. ISSUANCE OF BONDS BY THE STATE OF IDAHO OR POLITICAL SUBDIVISIONS — VARIABLE INTEREST RATES PERMITTED — CREDIT ENHANCEMENT ARRANGEMENTS. Any other provision of law to the contrary notwithstanding, in the ordinance or resolution authorizing the issuance of any bonds, notes or other evidence of indebtedness otherwise permitted to be issued under the laws of the state of Idaho, the body charged with authorizing the issuance of such obligations for the state, its agencies, institutions, political subdivisions, cities, counties, school districts, irrigation districts, authorities, instrumentalities and municipal and quasi-municipal corporations now or hereafter existing under the laws of the state of Idaho, may specify either the rate or rates of interest, if any, on the bonds, notes or other evidences of indebtedness to be issued or may specify a method, formula or index pursuant to which the interest rate or rates on the bonds, notes or other evidences of indebtedness may be determined during the time such obligations are outstanding. Subject to the constitution, the resolution or ordinance may include the terms and conditions of arrangements which may be entered into by the issuer of such obligations with financial, banking and other institutions for letters of credit, standby letters of credit, reimbursement agreements and remarketing, indexing and tender agent agreements to secure such obligations, including payment from any legally available source of fees, charges or other amounts coming due under the agreements entered into in connection with the issuance of the obligations. Such arrangements need not be set forth in full in the resolution or ordinance, but may be incorporated by reference to the agreements entered into with the financial, banking or other institution.
History:
[57-231, added 1984, ch. 261, sec. 1, p. 631.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-232 - SALE OF BONDS — DEFINITION OF PRIVATE SALE.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-233 - SALE OF BONDS — ELECTRONIC BIDDING.

57-233. SALE OF BONDS — ELECTRONIC BIDDING. Whenever a public entity is authorized to sell bonds, notes or other obligations at public sale, the governing body may, in its discretion, provide for the sale of such bonds, notes or other obligations pursuant to any system of electronic bidding which the governing body, in the exercise of its sound discretion, deems fair to potential bidders which produces the lowest effective interest rate to the issuer.
History:
[57-233, added 2001, ch. 264, sec. 6, p. 970.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-234 - CREATION AND PERFECTION OF GOVERNMENT SECURITY INTERESTS.

57-234. CREATION AND PERFECTION OF GOVERNMENT SECURITY INTERESTS. (1) The revenues, fees, rents, charges, taxes or other property pledged by a governmental unit for the purpose of securing its bonds, which pledge is hereby authorized, are immediately subject to the lien of the pledge, and the lien shall be a perfected lien upon the effective date of the security agreement. No physical delivery of any security agreement or any other act is required. Neither the security agreement nor a financing statement need be filed or recorded under the uniform commercial code or otherwise. The lien of any pledge is valid, binding, perfected and enforceable from the time the pledge is made. The lien of the pledge shall have priority based on the time of the creation of the pledge unless otherwise provided in the security agreement. The lien of the pledge shall have priority as against all parties having claims of any kind in tort, contract, or otherwise against the governing body, irrespective of whether the parties have notice of the lien. Each pledge and security agreement made for the benefit or security of any of the bonds shall continue to be effective until the principal, interest, and premium, if any, on the bonds have been fully paid or provision for payment has been made, or until the lien created by the security agreement has been released by agreement of the parties in interest or as provided by the security agreement that created the lien.
(2) As used in this section:
(a) "Bonds" means any bond, note, lease or other obligation of a governmental unit;
(b) "Governmental unit" has the meaning assigned in section 28-9-102, Idaho Code;
(c) "Pledge" means the creation of a security interest of any kind;
(d) "Property" means any property or interests therein, other than real property; and
(e) "Security agreement" means any resolution, ordinance, indenture, document, or other agreement or instrument under which the revenues, fees, rents, charges, taxes or other property are pledged to secure the bonds.
(3) This section expressly governs the creation, perfection, priority and enforcement of a security interest created by the state or a governmental unit of the state, notwithstanding any provisions in chapter 9, title 28, Idaho Code, to the contrary.
History:
[(57-234) 57-232, added 2001, ch. 208, sec. 30, p. 830; am. and redesig. 2005, ch. 25, sec. 119, p. 131.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 2 - MUNICIPAL BOND LAW › Section 57-235 - BONDS — DELEGATION AUTHORITY.

57-235. BONDS — DELEGATION AUTHORITY. (1) Whenever the governing body of any public body shall deem it advisable to issue bonds under its lawful authority, then, subject to the limits of such authority, the governing body may delegate to a member of the governing body or to the chief executive officer or chief financial officer of the public body, in accordance with specific instructions and procedures adopted by the governing body in a resolution or ordinance authorizing the issuance of bonds, the determination of any or all of the following:
(a) The rate of interest on the bonds;
(b) The conditions on which and the prices at which the bonds may be redeemed prior to maturity;
(c) The existence and amount of any capitalized interest or reserve funds;
(d) The price at which the bonds shall be sold;
(e) The principal amount and denominations of the bonds;
(f) The amount of principal maturing in each year;
(g) The dates upon which principal and interest shall be paid;
(h) The maturities and amounts of the bonds to be refunded, if any; and
(i) The terms of any contract to provide credit enhancement of the bonds.
(2) The designated member or officer or officers shall obtain terms for the items provided in paragraphs (a) through (i) of subsection (1) of this section that shall be consistent with, not in excess of and no less favorable than the terms as have been approved by the governing body and, if applicable in the case of bonds requiring voter approval, approved by the voters.
(3) Nothing herein shall confer upon any public body or the governing body, employees or agents thereof any additional powers not currently conferred under the laws and constitution of the state of Idaho with respect to issuance of bonds or any other matter, nor shall any limitation in the laws and constitution of the state of Idaho on the delegation of such powers be otherwise affected.
(4) For purposes of this section, the following terms shall have the following definitions:
(a) "Bond" or "bonds" means any revenue bond or general obligation bond, as those terms are defined in section 57-504, Idaho Code.
(b) "Governing body" means the council, commission, board of commissioners, board of directors, board of trustees, board of regents, members of an authority or other legislative body of a public body in which body the legislative powers of the public body are vested.
(c) "Public body" means the state of Idaho, its agencies, institutions, political subdivisions, school districts, authorities, instrumentalities, and municipal and quasi-municipal corporations now or hereafter existing under the laws of the state of Idaho.
(5) Any provision in this section providing that any action or thing shall be authorized, taken or done by ordinance or resolution shall be taken to mean that any such governing body shall proceed by ordinance or resolution as required or permitted by law or by the customary mode of proceeding by each such governing body, respectively, not forbidden by law.
History:
[57-235, added 2014, ch. 251, sec. 4, p. 632.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 3 - FILING OF LISTS OF BONDS › Section 57-301 - TREASURER TO FILE LISTS IN RECORDER’S OFFICE — CONTENTS — STATEMENT UPON REDEMPTION OR PAYMENT OF BOND.

57-301. TREASURER TO FILE LISTS IN RECORDER’S OFFICE — CONTENTS — STATEMENT UPON REDEMPTION OR PAYMENT OF BOND. The treasurer of every county, good road district, highway district, city, village, including all special improvement district bonds of cities and villages, school district, drainage district and irrigation district, shall file a list of all bonds of every kind which have heretofore been issued and are now outstanding as obligations of such political subdivision, and those which may hereafter be issued by any such political subdivision, in the office of the county recorder of the county in which such bonds have been or are issued. The treasurer of such political subdivision shall within sixty (60) days after the taking effect of this chapter, file [a] list of all such bonds in the office of the county recorder with the information as herein specified concerning such bonds; within thirty (30) days after the sale or delivery of any bonds issued by any such political subdivision herein enumerated after the taking effect of this chapter, the treasurer of such political subdivision shall file in the office of the county recorder a list of such bonds with the information as herein provided.
The lists of bonds herein required to be filed shall contain the following information: (a) the amount of the bond issued; (b) the purpose of the bond issue; (c) the dates of issuance; (d) the rate of interest; (e) length of time such bonds are to exist; (f) the serial numbers of the bonds; (g) a statement of the amount of bonded indebtedness outstanding.
When any bonds are redeemed or paid in any such political subdivision, the treasurer of such subdivision shall within thirty days after the payment of [or] redemption of such bonds, file in the office of the county recorder a statement showing the following facts: (a) the amount of bonds paid or redeemed; (b) designate what bonds were so paid or redeemed.
History:
[(57-301) 1921, ch. 171, sec. 1, p. 366; am. 1925, ch. 132, sec. 1, p. 188; I.C.A., sec. 55-301.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 3 - FILING OF LISTS OF BONDS › Section 57-302 - SUMMARY OF OUTSTANDING BONDS TO BE INCLUDED IN RECORDER’S FINANCIAL STATEMENT.

57-302. SUMMARY OF OUTSTANDING BONDS TO BE INCLUDED IN RECORDER’S FINANCIAL STATEMENT. It is hereby made the duty of the county recorder to include in the annual financial statement to the board of county commissioners, provided for in section 31-2307, Idaho Code, a classified summary of all outstanding bonds of the county and of each included bonded district and the total amount in the bond redemption funds of the county and of each included bonded district.
History:
[(57-302) 1921, ch. 171, sec. 2, p. 366; am. 1925, ch. 132, sec. 2, p. 185; I.C.A., sec. 55-302; am. 1994, ch. 180, sec. 110, p. 499.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 3 - FILING OF LISTS OF BONDS › Section 57-303 - CERTIFICATION OF AMOUNTS IN BOND REDEMPTION FUNDS.

57-303. CERTIFICATION OF AMOUNTS IN BOND REDEMPTION FUNDS. It shall be the duty of every county treasurer, not later than the second Monday in February of each year to certify to the county recorder of the same county the total amount in the county bond redemption [fund], and the total amount in the bond redemption funds of the included common school districts.
The treasurers of other included bonding units within the county shall certify to the county recorder of the county in which such bonding unit is situated, not later than the date before mentioned, the total amount in the bond redemption fund of such bonding units.
History:
[(57-303) 1921, ch. 171, sec. 2a, as added by 1925, ch. 132, sec. 2, p. 188; I.C.A., sec. 55-303.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 3 - FILING OF LISTS OF BONDS › Section 57-304 - COUNTY RECORDER NOT TO CHARGE FEES.

57-304. COUNTY RECORDER NOT TO CHARGE FEES. There shall be no fee charged by the county recorder for filing any such lists or making the copies for transmission to the board of county commissioners or for any other services herein required of the county recorder.
History:
[(57-304) 1921, ch. 171, sec. 3, p. 366; am. 1925, ch. 132, sec. 3, p. 185; I.C.A., sec. 55-304; am. 1994, ch. 180, sec. 111, p. 499.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 3 - FILING OF LISTS OF BONDS › Section 57-305 - COUNTY AUDITOR TO KEEP INFORMATION FOR REFERENCE.

57-305. COUNTY AUDITOR TO KEEP INFORMATION FOR REFERENCE. The county auditor shall keep in some convenient form for reference, the information received from the various treasurers as herein provided.
History:
[(57-305) 1921, ch. 171, sec. 4, p. 366; am. 1925, ch. 132, sec. 4, p. 185; I.C.A., sec. 55-305; am. 1994, ch. 180, sec. 112, p. 499.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 3 - FILING OF LISTS OF BONDS › Section 57-306 - VIOLATION A MISDEMEANOR.

57-306. VIOLATION A MISDEMEANOR. Any person or officer violating any of the provisions of this chapter shall be deemed guilty of a misdemeanor.
History:
[(57-306) 1921, ch. 171, sec. 5, p. 366; am. 1925, ch. 132, sec. 5, p. 185; I.C.A., sec. 55-306.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 4 - REGISTRATION OF COUPON BONDS › Section 57-401 - REGISTRATION AS TO PRINCIPAL ONLY — DISCHARGE FROM REGISTRATION.

57-401. REGISTRATION AS TO PRINCIPAL ONLY — DISCHARGE FROM REGISTRATION. Whenever the holder of any coupon bond, already issued or hereafter issued by the state of Idaho, or by any county, city, town, township, board of education, school district or other subdivision, now or hereafter existing in this state, shall present any such bond to the treasurer or other officer of the state or of such corporation, or subdivision, who by law performs the duties of treasurer, with a request for the registration of such bond as to principal only, in the name of such holder, it shall be the duty of such treasurer or such other official, to register such bond in the name of such holder, as to principal only, on the treasurer’s books, which registration shall be similarly noted on the bond. After registration as to principal only, such bond may be discharged from registration by being transferred to bearer, after which it shall be transferable by delivery, but it may be again registered as before.
History:
[(57-401) 1921, ch. 89, sec. 1, p. 167; I.C.A., sec. 55-401.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 4 - REGISTRATION OF COUPON BONDS › Section 57-402 - CONVERSION INTO FULLY REGISTERED BOND.

57-402. CONVERSION INTO FULLY REGISTERED BOND. The registration of such bond as to principal only shall not restrain the negotiability of the coupons by delivery merely, but upon presentation of any such bond to the treasurer or other official of the state or of such corporation, or subdivision, who by law performs the duties of treasurer, with a request for the conversion of such bond into a fully registered bond, such treasurer or such other official, shall cut off and cancel the coupons on any such coupon bonds so presented, and shall stamp, print or write upon such coupon bond, so presented, a statement to the effect that the coupon sheets issued with the bond have been surrendered by the holder of the bond, that the coupons have been canceled by the treasurer, or official acting as such, and that the interest on the bonds is to be paid to the registered holder or order upon the proper acknowledgment of the receipt thereof.
History:
[(57-402) 1921, ch. 89, sec. 2, p. 167; I.C.A., sec. 55-402.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 4 - REGISTRATION OF COUPON BONDS › Section 57-403 - RECORD OF REGISTERED BONDS.

57-403. RECORD OF REGISTERED BONDS. Such treasurer or such other official shall keep in his office, such book or books as may be necessary, so as to show at all times what bonds are registered as to principal only, and what bonds are registered as to both principal and interest.
History:
[(57-403) 1921, ch. 89, sec. 3, p. 167; I.C.A., sec. 55-403.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 4 - REGISTRATION OF COUPON BONDS › Section 57-404 - REGISTRATION TO BE WITHOUT COST TO HOLDER.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 5 - ISSUANCE OF REFUNDING BONDS › Section 57-501 - ISSUANCE OF REFUNDING BONDS AUTHORIZED.

57-501. ISSUANCE OF REFUNDING BONDS AUTHORIZED. In all cases where the state or any county, city, village, school district, highway district, good roads district, irrigation district or drainage district, has issued and sold, or may hereafter issue and sell, its bonds and the same are outstanding and unpaid and which may under the laws of this state be refunded and called for payment, the state, county, school district, city, village, highway district, good roads district, irrigation district or drainage district having issued and sold said bonds, may refund the issue and sell refunding bonds in the manner provided by the law for the purpose of calling and paying said outstanding bonds, and may execute, sell and deliver said refunding bonds and receive the money therefor prior to or subsequent to calling for payment or paying and canceling the bonds so refunded, and such refunding bonds when so sold and delivered shall be legal and binding obligations of the state, county, school district, city, village, highway district, good roads district, irrigation district or drainage district issuing and selling the same.
History:
[(57-501) 1931, ch. 190, sec. 1, p. 328; I.C.A., sec. 55-501.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 5 - ISSUANCE OF REFUNDING BONDS › Section 57-502 - DEPOSIT OF PROCEEDS OF REFUNDING BONDS — LIMITATIONS ON USE.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 5 - ISSUANCE OF REFUNDING BONDS › Section 57-503 - PAYMENT AND CANCELLATION OF OUTSTANDING BONDS.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 6 - SINKING FUNDS — MISCELLANEOUS PROVISIONS › Section 57-601 - INVESTMENT OF SINKING FUND — PURCHASE OF OUTSTANDING BONDS.

57-601. INVESTMENT OF SINKING FUND — PURCHASE OF OUTSTANDING BONDS. The treasurer of the state of Idaho, the city council or city commissioner of every city, the board of trustees of every village, the board of county commissioners of every county, the board of commissioners of every highway district, the board of trustees of every school district, the board of commissioners of every drainage district, the board of directors of every irrigation district, the board of trustees of every library district, and the governing board of every taxing district within the state of Idaho, whenever there is in any sinking fund, now existing or hereafter created by authority of the laws of the state, an amount in excess of the requirements to pay bonds maturing within the current year, shall, so far as practicable, invest the same in time certificates of deposit of public depositories, interest-bearing general obligation bonds, tax anticipation notes or treasury certificates lawfully issued by the United States of America, the state of Idaho, or any city, county, highway district, or school district in the state of Idaho. The state or any city, village, county, highway district, school district, drainage district, irrigation district, library district, or any other taxing district in the state of Idaho may purchase for the sinking fund any bonds originally issued or assumed by it and keep the same alive in the sinking fund and resell the same, or any other investments of the sinking funds, when it may be deemed advisable to make more advantageous investments or to provide means for the redemption of maturing bonds; provided, that if any bonds so purchased are not necessary for the protection of any such sinking fund the governing board shall cause any such bonds together with the interest coupons thereon to be cancelled; provided, that whenever there is in any sinking fund of any irrigation district, now existing or hereafter created by authority of the laws of the state, an amount of funds in excess of the requirements to pay bonds maturing within the current year, such irrigation district may invest such excess moneys in any of the anticipation notes or warrants or other interest-bearing securities of such irrigation district; provided, further that any county hospital board may invest in short term interest-bearing bonds and other evidences of indebtedness of the United States, time certificates of deposit of public depositories or savings accounts insured by the federal deposit insurance corporation, to the extent of such insurance, whenever there are current expense funds in excess of requirements for the current year when it may be deemed advisable to put surplus current funds to work.
History:
[(57-601) 1925, ch. 119, sec. 1, p. 167; am. 1929, ch. 123, sec. 1, p. 203; I.C.A., sec. 55-601; am. 1953, ch. 185, sec. 1, p. 295; am. 1957, ch. 221, sec. 1, p. 499; am. 1972, ch. 169, sec. 1, p. 418.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 6 - SINKING FUNDS — MISCELLANEOUS PROVISIONS › Section 57-601A - INCOME FROM INVESTMENT OF SINKING FUND.

57-601A. INCOME FROM INVESTMENT OF SINKING FUND. Any income or profit that may be realized from the investment of the funds referred to in section 57-601, Idaho Code, shall, as the same are received, be deposited to the sinking fund from which such excess funds were invested, and in no event shall any of such said income or profits from said investment be deposited to the general fund or any operating fund of such investing entity. Any member of any taxing board or any disbursing officer described in section 57-601, Idaho Code, who fails, refuses, or neglects to return the interest or income from investments to the proper sinking fund shall be proceeded against in the manner prescribed by section 57-603, Idaho Code.
History:
[57-601A, added 1975, ch. 24, sec. 1, p. 39.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 6 - SINKING FUNDS — MISCELLANEOUS PROVISIONS › Section 57-602 - ENFORCEMENT OF LAWS RELATING TO SINKING FUND LEVIES AND INVESTMENT OF SINKING FUNDS.

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.]
2023 Idaho Code › Title 57 - PUBLIC FUNDS IN GENERAL › Chapter 6 - SINKING FUNDS — MISCELLANEOUS PROVISIONS › Section 57-603 - WRONGFUL DISBURSEMENT FROM SINKING FUND — LIABILITY OF MEMBER OR DISBURSING OFFICER OF TAXING BOARD — ENFORCEMENT.

57-603. WRONGFUL DISBURSEMENT FROM SINKING FUND — LIABILITY OF MEMBER OR DISBURSING OFFICER OF TAXING BOARD — ENFORCEMENT. Any member of any taxing board, or any disbursing officer thereof, who shall vote for the expenditure of, or expend or disburse, any money from any sinking fund for any purpose other than that for which such fund was created, shall be personally liable, together with his bondsmen, for all money so paid out, disbursed or expended. The prosecuting attorney of the county in which such taxing district or any part thereof is situated shall, upon the demand of any taxpayer, commence a proper civil action against such person or persons and his or their bondsmen, and prosecute the same to final judgment for the purpose of collecting the full amount for which they are liable; and the amount of the judgment or any part thereof when collected shall be placed in the sinking fund from which such moneys were illegally taken.
History:
[(57-603) 1929, ch. 159, sec. 1, p. 289; I.C.A., sec. 55-603.]