2005 Idaho Code - 42-1754 — ALLOCATION OF FUND

                                  TITLE  42
                       IRRIGATION AND DRAINAGE -- WATER
                            RIGHTS AND RECLAMATION
                                  CHAPTER 17
                       DEPARTMENT OF WATER RESOURCES --
                             WATER RESOURCE BOARD
    42-1754.  ALLOCATION OF FUND. The Idaho water resource board revolving
development fund shall be allocated for use:
    (a)  To the board for a project which it deems to be "in the public
interest" and which, in its opinion, further implements any extant Idaho state
water plan, in such amounts as are necessary for preparation of a feasibility
study of the project, engineering services in preparing designs and
specifications, and for construction of the project.
    (b)  As loans from the revolving development fund which may be approved by
the board and made to irrigation districts, canal or irrigation companies,
water users' associations, municipal or private corporations, or, in special
cases when approved by the board, to individuals to finance project costs,
provided, however, that no loans shall be made to finance feasibility studies
except as a part of overall project costs.
    (c)  To establish reserve accounts or guarantee funds in the state
treasury to aid in the funding of water projects. Interest earned on such
moneys invested by the state treasurer shall be paid into the water resource
board revolving development fund.
    (d)  To the board to finance joint ventures for project construction with
federal agencies, neighboring states, legal subdivisions of the state, private
corporations, or other organizations, and including the costs of feasibility
studies, investigations, and other preparatory expenses, for purposes
consistent with those for which the fund is established, and the board is
authorized to use the fund for these purposes.
    (e)  To the board to finance feasibility studies, investigations, and
other preparatory expenses for projects it intends to fund through the sale of
revenue bonds or through use of funds from other sources.
    (f)  To the board for payment of costs associated with the issuance and
repayment of the board's revenue bonds.