2005 Idaho Code - 31-1507 — PROCEDURES FOR REDEEMING REGISTERED WARRANTS

                                  TITLE  31
                           COUNTIES AND COUNTY LAW
                                  CHAPTER 15
                  COUNTY FINANCES AND CLAIMS AGAINST COUNTY
    31-1507.  PROCEDURES FOR REDEEMING REGISTERED WARRANTS. If the board of
county commissioners declares an emergency pursuant to section 31-1608, Idaho
Code, the process of funding registered warrants shall conform with current
banking and accounting requirements.
    When necessary, the county treasurer shall identify ways of redeeming
warrants, including short term borrowing from other county funds at market
interest rates, until a warrant redemption levy is established as provided in
section 63-806(1), Idaho Code. To this end, the county treasurer may contact
local financial institutions about currently available interim financing
options. After reviewing the alternatives provided by the county treasurer,
the board of county commissioners shall, by resolution, select the method of
financing and the interest rate to be paid and direct the county auditor to
establish the warrant redemption fund. The county treasurer shall complete
necessary arrangements to secure sufficient funds to redeem registered
warrants.