70-2113. INVESTMENT OF FUNDS. Each port district issuing revenue bonds hereunder may invest any funds received in connection therewith in bonds, notes, certificates of indebtedness, treasury bills or other securities constituting direct obligations of the United States of America; in certificates of deposit or time deposits constituting direct obligations of any bank as defined by the Idaho bank act, provided, however, that investments may be made only in those certificates of deposit or time deposits in banks which are insured by the federal deposit insurance corporation, if then in existence; or in short term discount obligations of the federal national mortgage association. Any such securities may be purchased at the offering or market price thereof at the time of such purchase.
History:
[70-2113, added 1981, ch. 228, sec. 1, p. 464.]
Structure Idaho Code
Title 70 - WATERCOURSES AND PORT DISTRICTS
Chapter 21 - IDAHO PORT DISTRICT ECONOMIC DEVELOPMENT FINANCING ACT
Section 70-2101 - SHORT TITLE.
Section 70-2102 - DECLARATION OF NECESSITY AND PURPOSE — LIBERAL CONSTRUCTION.
Section 70-2103 - DEFINITIONS.
Section 70-2105 - CONFLICT OF INTEREST.
Section 70-2107 - PUBLICATION OF PROCEEDINGS — CONTEST PERIOD.
Section 70-2108 - SECURITY FOR REVENUE BONDS.
Section 70-2109 - PAYMENT OF REVENUE BONDS — NONLIABILITY OF STATE AND POLITICAL SUBDIVISIONS.
Section 70-2111 - CONVEYANCE OF TITLE TO LESSEE.
Section 70-2112 - POWERS NOT RESTRICTED — LAW COMPLETE IN ITSELF.
Section 70-2113 - INVESTMENT OF FUNDS.
Section 70-2114 - BONDS ELIGIBLE FOR INVESTMENT.
Section 70-2115 - EXEMPTION FROM PUBLIC BUILDINGS CONSTRUCTION AND BIDDING REQUIREMENTS.