Idaho Attorney General Opinions

Permanent endowment funds may be invested in money market mutual funds provided fund unconditionally guarantees full repayment of principal and interest and state does not directly or indirectly become stockholder in any association or corporation.

To avoid violation of constitutional and land provisions, the special fund provided by Idaho Code §58-140 should be consolidated in the agency asset fund so that interest will be accounted for separately for the benefit of the account.

Water Resource Board has the authority to issue revenue bonds for hydroelectric power project.