33-2125. BONDS. A dormitory housing commission shall have power to issue bonds from time to time in its discretion, for any of its corporate purposes. A commission shall also have power to issue refunding bonds for the purpose of paying or retiring bonds previously issued by it. In order to carry out the purposes of this act, a commission may issue, upon proper resolution, bonds on which the principal and interest are payable (a) exclusively from the income and revenue of a dormitory project financed with the proceeds of such bonds; or (b) exclusively from such income and revenues together with grants and contributions from the federal government or other source in aid of such project; provided that the proceeds of grants of funds and moneys received or to be received from the United States of America or any agency or instrumentality thereof, pursuant to agreements entered into between the commission and the United States of America or any agency or instrumentality thereof prior to the issuance of the bonds, may be considered as revenue of the project for which such bonds are issued.
Neither the commissioners nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. The bonds and other obligations of a commission (and such bonds and obligations shall so state on their face) shall not be a debt or liability, direct or indirect, of the junior college district, the state, or any political subdivision thereof, and neither the junior college district, the state or any political subdivision thereof, shall be liable thereon, nor in any event shall such bonds or obligations be payable out of any funds other than those of the commission or funds due the commission. Bonds of a commission are declared to be issued for an essential public and governmental purpose and to be public instrumentalities and, together with interest thereon and income therefrom, shall be exempt from taxes.
History:
[33-2125, added 1957, ch. 87, sec. 10, p. 137; am. 1970, ch. 80, sec. 1, p. 196.]
Structure Idaho Code
Section 33-2101 - JUNIOR COLLEGE DISTRICTS, APPROVALS, BOUNDARIES OF JUNIOR COLLEGE AREAS.
Section 33-2101A - JUNIOR COLLEGE SHALL MEAN COMMUNITY COLLEGE.
Section 33-2102 - COURSES OF STUDY.
Section 33-2103 - MINIMUM REQUIREMENTS FOR THE FORMATION OF A JUNIOR COLLEGE DISTRICT.
Section 33-2104 - FORMATION OF COMMUNITY COLLEGE DISTRICTS.
Section 33-2104A - COMMUNITY COLLEGE TRUSTEE ZONES.
Section 33-2105 - ADDITION OF TERRITORY TO COMMUNITY COLLEGE DISTRICTS.
Section 33-2106 - TRUSTEES OF COMMUNITY COLLEGE DISTRICTS.
Section 33-2107 - GENERAL POWERS OF THE BOARD OF TRUSTEES.
Section 33-2107B - POWERS GRANTED BY PRECEDING SECTION IN ADDITION TO OTHER POWERS.
Section 33-2107C - DEFINITION OF URBAN AREA DISTRICTS EMPOWERED TO CREATE UPPER DIVISIONS.
Section 33-2108 - JUNIOR COLLEGE DISTRICTS PUBLIC CORPORATIONS — SUE AND BE SUED — CORPORATE SEAL.
Section 33-2109A - USE OF UNUSED SICK LEAVE.
Section 33-2111 - TAXES AND OTHER FINANCIAL SUPPORT FOR COMMUNITY COLLEGES.
Section 33-2112 - ADDITIONAL TAX LEVY FOR GYMNASIUM AND GROUNDS.
Section 33-2113 - CAPITAL FUNDS.
Section 33-2114 - REPORTS OF JUNIOR COLLEGE DISTRICTS.
Section 33-2115 - COUNTIES, CITIES, SCHOOL DISTRICTS AND BOARDS TO COOPERATE.
Section 33-2117 - DEFINITIONS.
Section 33-2118 - CREATION OF DORMITORY HOUSING COMMISSIONS.
Section 33-2119 - APPOINTMENT, QUALIFICATIONS AND TENURE OF COMMISSIONERS.
Section 33-2120 - INTERESTED COMMISSIONERS OR EMPLOYEES.
Section 33-2121 - REMOVAL OF COMMISSIONERS.
Section 33-2122 - POWERS AND DUTIES OF DORMITORY HOUSING COMMISSIONS.
Section 33-2123 - OPERATION NOT FOR PROFIT.
Section 33-2124 - PLANNING, ZONING AND BUILDING LAWS.
Section 33-2126 - FORM AND SALE OF BONDS.
Section 33-2127 - PROVISIONS OF BONDS AND TRUST INDENTURES.
Section 33-2128 - REMEDIES OF AN OBLIGEE OF COMMISSION.
Section 33-2129 - ADDITIONAL REMEDIES CONFERRABLE BY COMMISSION.
Section 33-2130 - CONSTRUCTION OF POWERS CONFERRED.
Section 33-2131 - EXEMPTION OF PROPERTY FROM EXECUTION SALE.
Section 33-2132 - AID FROM FEDERAL GOVERNMENT.
Section 33-2133 - TAX EXEMPTION.
Section 33-2135 - TERMINATION — REACTIVATION.
Section 33-2136 - STUDENT CENTERS AND STUDENT UNION BUILDINGS.
Section 33-2137 - IMPOSITION AND COLLECTION OF STUDENT FEES AND CHARGES.
Section 33-2138 - HOUSING COMMISSIONS VALIDATED.
Section 33-2139 - STATE COMMUNITY COLLEGE ACCOUNT CREATED.
Section 33-2141 - DISBURSEMENT OF FUNDS — METHOD — FUNDS DISBURSED NOT CONSIDERED IN FIXING TUITION.
Section 33-2142 - DIRECT PAYMENT TO BOARD — UTILIZATION.
Section 33-2143 - DISPOSITION OF FUNDS WHEN JUNIOR COLLEGE CEASES TO OPERATE.
Section 33-2144 - DISBURSEMENT TO PUBLIC EMPLOYEE RETIREMENT FUND.
Section 33-2145 - PROCEDURES TO PREVENT THE SPREAD OF INFECTIOUS DISEASE.