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 redemption premium thereon and any interest accrued or to accrue to the date of redemption or maturity of the revenue bonds and commissions, service fees and other expenses necessary to be paid in connection with the refunding bond issue, and if considered advisable by the public corporation, for the additional purpose of financing improvements, extension or enlargements to the industrial development facility or another industrial development facility. The issuance of the revenue bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the public corporation in respect to the same shall be governed by this chapter insofar as applicable.
Any such refunding may be effected whether the bonds to be refunded shall have matured or shall thereafter mature, either by sale of the refunding bonds and the application of the proceeds thereof for the payment of the bonds to be refunded thereby, or by the exchange of the refunding bonds for the bonds to be refunded thereby with the consent of the holders of the bonds so to be refunded, and regardless of whether or not the bonds to be refunded were issued in connection with the same project or separate projects or for any other purpose hereunder, and regardless of whether or not the revenue bonds proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise.
History:
[50-2712, added 1982, ch. 119, sec. 1, p. 334.]
Structure Idaho Code
Title 50 - MUNICIPAL CORPORATIONS
Chapter 27 - MUNICIPAL INDUSTRIAL DEVELOPMENT PROGRAM
Section 50-2701 - FINDING AND DECLARATION OF NECESSITY.
Section 50-2702 - DEFINITIONS.
Section 50-2703 - PUBLIC CORPORATIONS — CREATION, DISSOLUTION.
Section 50-2704 - BOARD OF DIRECTORS OF A PUBLIC CORPORATION.
Section 50-2705 - PUBLIC CORPORATIONS — DIRECTORS.
Section 50-2706 - PUBLIC CORPORATIONS — LIMITATIONS.
Section 50-2707 - PUBLIC CORPORATIONS — AUDIT BY STATE.
Section 50-2708 - PUBLIC CORPORATIONS — POWERS.
Section 50-2709 - REPORTING AND ASSISTANCE.
Section 50-2710 - REVENUE BONDS — PROVISIONS.
Section 50-2711 - INVESTMENT OF FUNDS.
Section 50-2712 - REVENUE BONDS — REFUNDING.
Section 50-2713 - TRUST AGREEMENTS.
Section 50-2714 - COMMINGLING OF BOND PROCEEDS OR REVENUES WITH MUNICIPAL FUNDS PROHIBITED.
Section 50-2715 - SUBLEASES AND ASSIGNMENT.
Section 50-2716 - DETERMINATION OF RENT.
Section 50-2717 - PROCEEDINGS IN THE EVENT OF DEFAULT.
Section 50-2718 - PUBLICATION OF PROCEEDINGS — CONTEST PERIOD.
Section 50-2719 - TAX EXEMPTION.
Section 50-2721 - BONDS ELIGIBLE FOR INVESTMENT.
Section 50-2722 - CONVEYANCE OF TITLE TO USER.
Section 50-2723 - CONSTRUCTION — SUPPLEMENTAL NATURE OF CHAPTER.