2005 Idaho Code - 63-3201 — BORROWING OF MONEY IN ANTICIPATION OF INCOME OR REVENUE -- LIMIT OF BORROWING -- ISSUANCE OF NOTES

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 32
                       ANTICIPATION OF REVENUE BY STATE
    63-3201.  BORROWING OF MONEY IN ANTICIPATION OF INCOME OR REVENUE -- LIMIT
OF BORROWING -- ISSUANCE OF NOTES. The state treasurer, on approval of the
state board of examiners, is hereby authorized and directed to borrow money
from time to time for the state of Idaho, in anticipation of income or revenue
from taxes, whether such taxes are specific, ad valorem, excise, income,
franchise or license, for the current fiscal year, or that portion of such
taxes not collected or previously anticipated at the time of borrowing, in a
principal sum not greater than seventy-five per cent (75%) of income or
revenue from such taxes which the state tax commission or any other tax
collection agency certifies to the state treasurer are to be reasonably
anticipated to be collected during the current fiscal year. [The] the
provision of section 67-1212, Idaho Code, shall not limit the authority of the
state treasurer to issue and sell tax anticipation notes under the authority
of this chapter. Said loan shall be evidenced by the issuance and sale of tax
anticipation notes of the state of Idaho, for fixed periods, not greater than
twelve (12) months or the end of the current fiscal year, whichever is
shorter.