Title 67 — STATE GOVERNMENT AND STATE AFFAIRS

67-8901. Short title. This act may be referred to and cited as the "Idaho Energy Resources Authority Act."

67-8902. Declaration of necessity and purpose. (1) It is hereby determined and declared that: (a) Industrial, irrigation, commercial and residential consumers in the state of Idaho receive electric service from various investor-owned, cooperative and municipal utilities and the a…

67-8903. Definitions. When used in this chapter, the following terms shall have the following meanings: (1) "Authority" means the Idaho energy resources authority created pursuant to section 67-8904, Idaho Code. (2) "Board" means the board of directors of the authority. (3) "Bond…

67-8904. Creation of idaho energy resources authority. There is hereby created and established an independent public body politic and corporate to be known as the "Idaho Energy Resources Authority." The authority is a public instrumentality of the state and its exercise of the po…

67-8905. Directors — Terms of office — Appointment — Filling vacancies and removal. (1) The powers of the authority shall be vested in a board of seven (7) directors to be appointed by the governor and confirmed by the senate. (2) In making appointments, the governor shall endeav…

67-8906. Quorum — Mode of action — Compensation. (1) Four (4) directors of the authority shall constitute a quorum for the purpose of conducting business and exercising its powers. (2) Action may be taken by the authority upon the affirmative vote of at least four (4) directors. …

67-8907. Organizational meeting — Chairman — Secretary and treasurer — Executive director — Delegation of power — Surety bond and conflict of interest. (1) A director designated by the governor shall call and convene the initial organizational meeting of the authority and shall s…

67-8908. Powers. (1) The authority shall have the following powers, which are hereby declared to be necessary to enable the authority to carry out and effectuate the purposes and provisions of this chapter, together with all powers incidental thereto or necessary for the performa…

67-8909. Development, acquisition and construction of facilities. (1) The authority will endeavor to achieve efficiencies and economies of scale by pursuing the development of facilities with multiple participating utilities on a joint and cooperative basis and shall, to the full…

67-8910. Management and operation of facilities. The authority shall cause any facilities undertaken by it to be managed and operated on its behalf by one (1) or more qualified participating utilities, or if no participating utility is qualified, willing or able to manage and ope…

67-8911. Sale of electricity, product or service from facilities — Charges. (1) The authority shall operate on a not-for-profit basis and shall sell the electricity, product or service provided by its facilities to participating utilities at cost, as provided in subsections (2) a…

67-8912. Cost recovery and rate stabilization charges of participating utilities. (1) A participating utility contracting with the authority for the electricity, service or product provided by a facility may establish one (1) or more rate stabilization charges, cost recovery char…

67-8913. Cooperation with other agencies and subdivisions. The authority may enter into agreements with any other state body or agency, any other political subdivision of the state and any other public agency, as defined in section 67-2327, Idaho Code, for the joint exercise of p…

67-8914. Exemption from income taxation. All bonds issued by the authority and the interest thereon and all revenues, fees, charges, gifts, grants, receipts and other moneys of the authority pledged to the payment of its bonds shall at all times be free from the taxes imposed und…

67-8915. Issuance of bonds to finance facilities. (1) The authority shall have power and is hereby authorized to issue, from time to time, its bonds in such principal amount as it shall determine to be necessary to provide sufficient funds to pay, finance or refinance the cost of…

67-8916. Refunding bonds. (1) The authority may provide for the issuance of refunding bonds for the purpose of refunding any bonds then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium thereon, any interest a…

67-8917. Payment of bonds — Nonliability of state. (1) Bonds issued by the authority shall not constitute or become an indebtedness, or a debt or liability of the state or any agency or subdivision of the state and neither the state nor any of its agencies or subdivisions shall b…

67-8918. State’s pledge. (1) The state pledges to and agrees with the holders of any bonds issued under this chapter, and with those parties who may enter into contracts with the authority pursuant to the provisions of this chapter, that the state will not limit, alter, restrict …

67-8919. Fees. All expenses of the authority incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter by participating utilities to the authority in the form of application fees, annual service, loan o…

67-8920. Exemption of real property of authority from levy and sale by execution. All real property of the authority shall be exempt from levy and sale by virtue of an execution, and no execution or other judicial process shall issue against the same nor shall any judgment agains…

67-8921. Annual report. The authority shall submit to the governor and to the legislature within ninety (90) days after the end of its fiscal year a complete and detailed report setting forth: (1) Its operations and accomplishments; (2) An accounting of its receipts and expenditu…

67-8922. Authority obligations are legal investments. (1) The bonds of the authority shall be legal investments in which all public officers and public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and ass…

67-8923. Chapter not a limitation of powers. Neither this chapter nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the authority might otherwise have under any laws of this state, and this chapter is cumulative to any suc…

67-8924. Constitutionality. (1) Notwithstanding any other evidence of legislative intent, it is hereby declared to be the controlling legislative intent, that if any provision of this chapter or the application thereof to any person or circumstance is held invalid, the remainder …

67-8925. clean energy generation projects. The authority may undertake any clean energy generation project for the benefit of one (1) or more independent power producers and may issue its bonds to finance the cost thereof, all to the same extent and subject to the same provisions…

67-8926. Conservation Measures. (1) For purposes of this section: (a) "Conservation" means a reduction in electric power consumption as a result of increases in the efficiency of energy use, production or distribution; (b) "Conservation measure" means an action, property, facilit…