67-8916. REFUNDING BONDS. (1) The authority may provide for the issuance of refunding bonds for the purpose of refunding any bonds then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium thereon, any interest accrued or to accrue to the date of redemption of such bonds and for any additional corporate purpose of the authority. The issuance of such bonds, the maturities, and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the authority in respect of the same shall be governed by the provisions of this chapter which relate to the issuance of bonds, insofar as such provisions may be appropriate therefor.
(2) Refunding bonds may be sold or exchanged for outstanding bonds issued under this chapter 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 bonds. Pending the application of the proceeds of any such refunding bonds, with any other available funds, to the payment of the principal, accrued interest, and any redemption premium on the bonds being refunded, and, if so provided or permitted in the resolution authorizing the issuance of such refunding bonds or in the trust agreement securing the same, to the payment of any interest on such refunding bonds and any expenses in connection with such refunding, such proceeds may be invested in such obligations as may be permitted for the defeasance of the outstanding bonds in the resolution or indenture under which they were issued.
History:
[67-8916, added 2005, ch. 53, sec. 1, p. 203.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 89 - IDAHO ENERGY RESOURCES AUTHORITY ACT
Section 67-8901 - SHORT TITLE.
Section 67-8902 - DECLARATION OF NECESSITY AND PURPOSE.
Section 67-8903 - DEFINITIONS.
Section 67-8904 - CREATION OF IDAHO ENERGY RESOURCES AUTHORITY.
Section 67-8905 - DIRECTORS — TERMS OF OFFICE — APPOINTMENT — FILLING VACANCIES AND REMOVAL.
Section 67-8906 - QUORUM — MODE OF ACTION — COMPENSATION.
Section 67-8909 - DEVELOPMENT, ACQUISITION AND CONSTRUCTION OF FACILITIES.
Section 67-8910 - MANAGEMENT AND OPERATION OF FACILITIES.
Section 67-8911 - SALE OF ELECTRICITY, PRODUCT OR SERVICE FROM FACILITIES — CHARGES.
Section 67-8912 - COST RECOVERY AND RATE STABILIZATION CHARGES OF PARTICIPATING UTILITIES.
Section 67-8913 - COOPERATION WITH OTHER AGENCIES AND SUBDIVISIONS.
Section 67-8914 - EXEMPTION FROM INCOME TAXATION.
Section 67-8915 - ISSUANCE OF BONDS TO FINANCE FACILITIES.
Section 67-8916 - REFUNDING BONDS.
Section 67-8917 - PAYMENT OF BONDS — NONLIABILITY OF STATE.
Section 67-8918 - STATE’S PLEDGE.
Section 67-8920 - EXEMPTION OF REAL PROPERTY OF AUTHORITY FROM LEVY AND SALE BY EXECUTION.
Section 67-8921 - ANNUAL REPORT.
Section 67-8922 - AUTHORITY OBLIGATIONS ARE LEGAL INVESTMENTS.
Section 67-8923 - CHAPTER NOT A LIMITATION OF POWERS.
Section 67-8924 - CONSTITUTIONALITY.