Title 50 — MUNICIPAL CORPORATIONS

50-2623. Disclosure requirement prior to lease or sale of property. Prior to leasing or selling property located within a business improvement district, property owners are required to provide written disclosure to prospective lessees or purchasers that the subject property is lo…

50-2624. Notification in the event of lease or sale. (1) Within thirty (30) days of the lease or sale of property located within a business improvement district, the lessor of the subject property in the case of a lease, or the seller of the subject property in the case of a sale…

50-2701. Finding and declaration of necessity. The legislature hereby finds and declares that this state urgently needs to promote higher employment; encourage the development of new jobs; maintain and supplement the capital investments in industry that currently exist in this st…

50-2702. Definitions. As used in this chapter, the following terms have the meanings indicated unless the context clearly requires otherwise. (1) "Board of directors" means the board of directors of a public corporation. (2) "Construction" or "construct" means construction and ac…

50-2703. Public corporations — Creation, dissolution. (1) For the purpose of facilitating economic development and employment opportunities in the state of Idaho through the financing of the project costs of industrial development facilities, a municipality may enact an ordinance…

50-2704. Board of directors of a public corporation. The ordinance creating a public corporation shall include provisions establishing a board of directors to govern the affairs of the corporation, what constitutes a quorum of the board of directors, and how the corporation shall…

50-2705. Public corporations — Directors. It shall be illegal for a director, officer, agent or employee of a corporation to have, directly or indirectly, any financial interest in any property to be included in or any contract for property, services or materials to be furnished …

50-2706. Public corporations — Limitations. No municipality may give or lend any money or property in aid of a public corporation chartered under the provisions of this chapter; provided, however, that a municipality may accept grants from the United States government or any agen…

50-2707. Public corporations — Audit by state. The finances of any public corporation are subject to examination by the legislative council.

50-2708. Public corporations — Powers. (1) A public corporation created under this chapter has the following powers with respect to industrial development facilities together with all powers incidental thereto or necessary for the performance thereof: (a) To locate, construct and…

50-2709. Reporting and assistance. (1) Within ten (10) days after the issuance of any revenue bonds, each public corporation shall record the following and any additional information with the department of finance, bureau of securities: (a) The name of the issuer; (b) The propose…

50-2710. Revenue bonds — Provisions. (1) The principal of and the interest on any revenue bonds issued by a public corporation shall be payable solely from the funds provided for this payment from the revenues of the industrial development facilities funded by the revenue bonds. …

50-2711. Investment of funds. An issuer issuing revenue bonds hereunder shall not commingle any funds received from the sale thereof with any other funds in its possession or under its control but may invest any such funds in the manner and in such obligations as shall be provide…

50-2712. Revenue bonds — Refunding. Each public corporation may provide by resolution for the issuance of revenue refunding bonds for the purpose of refunding any revenue bonds issued for an industrial development facility under this chapter, including the payment of any redempti…

50-2713. Trust agreements. Any bonds issued under this chapter may be secured by a trust agreement between the public corporation and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement …

50-2714. Commingling of bond proceeds or revenues with municipal funds prohibited. No part of the proceeds received from the sale of any revenue bonds under this chapter, of any revenues derived from any industrial development facility required or held under this chapter, or of a…

50-2715. Subleases and assignment. A lessee or contracting party under a sale contract or loan agreement shall not be required to be the eventual user of an industrial development facility if any sublessee or assignee assumes all of the obligations of the lessee or contracting pa…

50-2716. Determination of rent. Before entering into a lease, sale contract or loan agreement with respect to any industrial development facility, the public corporation shall determine that there are sufficient revenues to pay: (a) The principal of and the interest on the revenu…

50-2717. Proceedings in the event of default. The proceedings authorizing any revenue bonds under this chapter or any financing document securing the revenue bonds may provide that if there is a default in the payment of the principal of or the interest on the bonds or in the per…

50-2718. Publication of proceedings — Contest period. The resolution authorizing the issuance of any revenue bonds hereunder and the execution of an indenture as security therefor shall be published one (1) time in a newspaper of general circulation in the municipality. Any such …

50-2719. Tax exemption. Any bonds issued under the provisions of this chapter, their transfer, and income therefrom, including any interest paid or payable thereon and profit made on the sale thereof, shall be exempt at all times from all taxation in the state of Idaho.

50-2720. Taxation. During any period that property acquired pursuant to this act is leased by a municipality or public corporation as a lessor, or title thereto is retained by a municipalaity or public corporation under an installment purchase contract, taxes shall be payable to …

50-2721. Bonds eligible for investment. The state of Idaho and all counties, cities, port districts and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions,…

50-2722. Conveyance of title to user. At or prior to the time the principal of, interest and premium, if any, on any revenue bonds issued hereunder to provide a particular project have been fully paid, the public corporation may execute such deeds and conveyances as are necessary…

50-2723. Construction — Supplemental nature of chapter. This chapter supplements and neither restricts nor limits any powers which a municipality or presently authorized corporation might otherwise have under any laws of this state.

50-2801. Definitions. As used in sections 50-2801 through 50-2805, Idaho Code: (1) "Bond" means any obligation for which an allocation of the volume cap is required by the code. (2) "Certificates" mean mortgage credit certificates described in section 25 of the code. (3) "Code" m…

50-2802. Finding and declaration of necessity. The legislature hereby finds and declares that the Tax Reform Act of 1986 imposes an annual state ceiling on the amount of bonds or certificates that may be issued, the interest on which is excludable from gross income for purposes o…

50-2803. Allocation formula. The entire state ceiling for the year, including any carry-forward under section 146(f) of the Internal Revenue Code, shall be allocated by the following formula. The state ceiling shall be allocated by the state to governmental units, as needed to fi…

50-2804. Authority of the governor. The governor is authorized and directed to provide for the implementation and administration of the allocation formula established in section 50-2803, Idaho Code, by executive order. The executive order shall: (i) establish rules and procedures…

50-2805. Miscellaneous. (1) No action taken pursuant to this chapter shall be deemed to create an obligation, debt or liability of any governmental unit or be deemed to constitute an approval of any obligations issued or to be issued hereunder. (2) If any provision of this chapte…

50-2901. Short title. This act may be known and cited as the "Local Economic Development Act."

50-2902. Findings and purpose. It is hereby found and declared that there exists in municipalities a need to raise revenue to finance the economic growth and development of urban renewal areas and competitively disadvantaged border community areas. The purpose of this act is to p…

50-2903. Definitions. The following terms used in this chapter shall have the following meanings, unless the context otherwise requires: (1) "Act" or "this act" means this revenue allocation act. (2) "Agency" or "urban renewal agency" means a public body created pursuant to secti…

50-2903A. effect of ordinance to modify urban renewal plan — exception. (1)(a) On and after July 1, 2016, except as provided in subsection (2) of this section, when an urban renewal plan containing a revenue allocation financing provision is modified through an ordinance of the a…

50-2904. Authority to create revenue allocation area. An authorized municipality is hereby authorized and empowered to adopt, at any time, a revenue allocation financing provision, as described in this chapter, as part of an urban renewal plan or competitively disadvantaged borde…

50-2905. Recommendation of urban renewal agency. In order to implement the provisions of this chapter, the urban renewal agency of the municipality shall prepare and adopt a plan for each revenue allocation area and submit the plan and recommendation for approval thereof to the l…

50-2905A. election necessary for expenditures on certain projects. (1) Notwithstanding any other provision of this chapter, on and after the effective date of this act, it shall be unlawful for an urban renewal agency to expend revenue collected under this chapter on project cost…

50-2906. Public hearing and ordinance required — special rules for certain taxing districts. (1) To adopt a new urban renewal plan or create a competitively disadvantaged border community area containing a revenue allocation financing provision, the local governing body of an aut…

50-2907. Transmittal of revenue allocation area description and other documents to taxing agencies. (1) After the effective date of an ordinance enacted by the local governing body of an authorized municipality, the clerk of the authorized municipality shall transmit, to the coun…

50-2908. Determination of tax levies — Creation of special fund. (1) For purposes of calculating the rate at which taxes shall be levied by or for each taxing district in which a revenue allocation area is located, the county commissioners shall, with respect to the taxable prope…

50-2909. Issuance of bonds — Bond provisions. (1) If the local governing body of an authorized municipality has enacted an ordinance adopting a revenue allocation financing provision as part of an urban renewal plan, the urban renewal agency established by such municipality is he…

50-2910. Bonds not general obligation of agency or municipality. Except to the extent of moneys deposited in a special fund or funds under this act and pledged to the payment of the principal of and interest on bonds or other obligations, the agency shall not be liable on any suc…

50-2911. Limitations on review. (1) No direct or collateral action attacking or otherwise questioning the validity of any urban renewal plan, project or modification thereto (including one containing a revenue allocation provision), or the adoption or approval of such plan, proje…

50-2912. Severability. The provisions of this act are hereby declared to be severable and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of remainin…

50-2913. urban renewal agency plans — reporting information required — penalties for failure to report. In addition to the provisions applicable to urban renewal agencies in chapters 20 and 29, title 50, Idaho Code, the provisions of this section shall also apply to urban renewal…

50-2914. Termination of an Urban Renewal Plan and Revenue Allocation financing provision. (1) An urban renewal agency may terminate an urban renewal plan containing a revenue allocation financing provision on or before the termination date in accordance with the provisions of sec…

50-3001. short title. This chapter shall be known and may be cited as the "Idaho Video Service Act."

50-3002. definitions. As used in this chapter: (1) "Access to video service" means the capability of a video service provider to provide video service at a household address irrespective of whether a subscriber has ordered the service or whether the service is actually provided a…

50-3003. FRANCHISING AUTHORITY — application for certificate of franchise authority — MODIFICATION OF service areas — term of certificate of franchise authority and termination thereof. (1) On and after July 1, 2012, no person shall act as a video service provider or operate a vi…

50-3004. PROVISION OF ACCESS TO VIDEO SERVICE WITHIN a CERTAIN PERIOD — SUSPENSION OF AUTHORITY FOR NONCOMPLIANCE WITH CERTAIN REQUIReMENTS. (1) Not later than twenty-four (24) months after the date on which the secretary of state issues a certificate of franchise authority pursu…