Title 57 — PUBLIC FUNDS IN GENERAL

57-901. Short title. This act may be cited as the "Registered Public Obligations Act of Idaho."

57-902. Definitions. As used in this chapter: (1) "Authorized officer" means any individual required or permitted, alone or with others by any provision of law or by an issuing public entity to execute a certificated registered public obligation or any writing relating to an unce…

57-903. Findings of state interests — Purposes. (1) The code provides that interest with respect to certain obligations may not be exempt from federal income taxation unless they are in registered form. It is therefore a matter of state concern that public entities be authorized …

57-904. Systems of registration. (1) Each issuer is authorized to establish and maintain a system of registration with respect to each obligation which it issues. The system may either be (a) a system pursuant to which only certificated registered public obligations are issued, o…

57-905. Certificated registered public obligation — Execution — Authentication. (1) A certificated registered public obligation shall be executed by the issuer by the manual or facsimile signature or signatures of authorized officers. Any signature of an authorized officer may be…

57-906. Certificated registered public obligation — Signatures. (1) Any certificated registered public obligation signed by the authorized officers at the time of the signing thereof shall remain valid and binding, notwithstanding that before the issuance thereof any or all of su…

57-907. Certificated registered public obligation — Seal. When a seal is required or permitted in the execution of any certificated registered public obligation, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. T…

57-908. Agents — Depositories. (1) An issuer may appoint for such term as may be agreed, including for so long as a registered public obligation may be outstanding, corporate or other authenticating agents, transfer agents, registrars, paying or other agents and specify the terms…

57-909. Costs — Collection. (1) An issuer, prior to or at original issuance of registered public obligations, may provide as part of a system of registration that the transferor or transferee of the registered public obligations pay all or a designated part of the costs of the sy…

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 t…

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 lo…

57-912. Applicability — Election — Recession. (1) Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise, this chapter shall be applicable to such registered public obligation, notwith…

57-913. Construction. This chapter shall be construed in conjunction with the uniform commercial code and the principles of contract law relative to the registration and transfer of obligations.

57-914. Amendment or repeal — Effect. The state hereby covenants with the owners of any registered public obligations that it will not amend or repeal this chapter if the effect may be to impair the exemption from income taxation of interest on registered public obligations.