50-3107. FINANCES. (1) Only community infrastructure to be publicly owned by this state or a political subdivision thereof may be financed pursuant to this chapter.
(2) Community infrastructure to be financed or acquired, or publicly or privately constructed pursuant to this chapter shall be subject to the required bidding procedures for any Idaho public agency.
(3) Community infrastructure shown in the general plan may be financed from the following sources of revenue:
(a) Proceeds received from the sale of bonds of the district;
(b) Moneys of a county or city contributed to the district;
(c) Property taxes or special assessments;
(d) State or federal grants or contributions;
(e) Private contributions;
(f) User, landowner and other fees and charges;
(g) Proceeds of loans or advances; and
(h) Any other moneys available to the district by law.
(4) The amount of indebtedness evidenced by general obligation bonds issued pursuant to section 50-3108, Idaho Code, special assessment bonds issued pursuant to section 50-3109, Idaho Code, and revenue bonds issued pursuant to section 50-3110, Idaho Code, shall not exceed the estimated cost of the community infrastructure to be financed with such bonds, plus all costs connected with the issuance and sale of such bonds, including formation costs, credit enhancement and liquidity support fees and costs. The total aggregate outstanding principal amount of general obligation bonds and other indebtedness for which the full faith and credit of the district are pledged shall not affect the general obligation bonding capacity of any county or city in which the district is located.
(5) Bonds issued by a district shall not be a general obligation of this state or any political subdivision thereof, including any county or city in which the district is located and shall not pledge the full faith and credit of this state or any political subdivision thereof, including any county or city in which the district is located.
History:
[50-3107, added 2008, ch. 410, sec. 1, p. 1148.]
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