67-6212. REFUNDING OF OBLIGATIONS. The association may provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding which have been issued under the provisions of this act, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such obligations and for any corporate purpose of the association. The issuance of such obligations, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the association in respect of the same shall be governed by the provisions of this act which relate to the issuance of obligations, insofar as such provisions may be appropriate therefor.
Refunding obligations may be sold or exchanged for outstanding obligations issued under this act and, if sold, the proceeds thereof may be applied, in addition to any other authorized purposes, to the purchase, redemption or payment of such outstanding obligations. Pending the application of the proceeds of any such refunding obligations, with any other available funds, to the payment of the principal, accrued interest and any redemption premium on the obligations being refunded, and, if so provided or permitted in the resolution authorizing the issuance of such refunding obligations or in the trust agreement securing the same, to the payment of any interest on such refunding obligations and any expenses in connection with such refunding, such proceeds may be invested in direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by the United States of America which shall mature or which shall be subject to redemption by the holders thereof, at the option of such holders, not later than the respective dates when the proceeds, together with the interest accruing thereon, will be required for the purposes intended.
History:
[67-6212, added I.C., sec. 67-6212, as added by 1974, ch. 104, sec. 18, p. 1210; am. 1996, ch. 253, sec. 15, p. 822.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 62 - IDAHO HOUSING AND FINANCE ASSOCIATION
Section 67-6202 - IDAHO HOUSING AND FINANCE ASSOCIATION CREATED.
Section 67-6203 - COMMISSIONERS — CHAIRMAN — APPOINTMENTS.
Section 67-6204 - VICE-CHAIRMAN, EXECUTIVE DIRECTOR AND OTHER PERSONNEL — APPOINTMENTS — QUORUM.
Section 67-6205 - DEFINITIONS.
Section 67-6206 - POWERS OF ASSOCIATION.
Section 67-6207A - ADDITIONAL POWERS.
Section 67-6207B - MORTGAGE LOANS — RULES — PURCHASE.
Section 67-6207C - HOUSING SPONSORSHIP.
Section 67-6207D - PERIODIC EXAMINATION OF INCOME OF PERSONS RESIDING IN HOUSING PROJECTS.
Section 67-6208 - TAX EXEMPT STATUS.
Section 67-6209 - HOUSING PROJECTS SUBJECTED TO ORDINANCES AND REGULATIONS.
Section 67-6210 - POWER TO ISSUE BONDS.
Section 67-6211 - ADDITIONAL DEFINITIONS AND CAPITAL RESERVE FUND PROCEDURES.
Section 67-6212 - REFUNDING OF OBLIGATIONS.
Section 67-6213 - DEPOSIT OF FUNDS.
Section 67-6214 - RIGHTS OF BONDHOLDER.
Section 67-6215 - RIGHTS NOT TO BE IMPAIRED BY STATE.
Section 67-6215A - REMEDIES OF BONDHOLDERS.
Section 67-6215B - LEGAL INVESTMENTS.
Section 67-6216 - AUTHORITY TO MAKE LOANS.
Section 67-6218 - FEASIBILITY.
Section 67-6219 - TECHNICAL ASSISTANCE.
Section 67-6220 - AUDITS — ANNUAL REPORTS.
Section 67-6221 - CONFLICT OF INTEREST.
Section 67-6222 - EXEMPTION OF REAL PROPERTY OF ASSOCIATION FROM LEVY AND SALE BY EXECUTION.
Section 67-6223A - DONATIONS TO HOUSING AND FINANCE ASSOCIATION.
Section 67-6224 - CONSTRUCTION OF ACT.
Section 67-6224A - LEGISLATIVE CONSTRUCTION.
Section 67-6225 - CONSTITUTIONALITY.