2005 Idaho Code - 67-8908 — POWERS

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 89
                     IDAHO ENERGY RESOURCES AUTHORITY ACT
    67-8908.  POWERS. (1) The authority shall have the following powers, which
are hereby declared to be necessary to enable the authority to carry out and
effectuate the purposes and provisions of this chapter, together with all
powers incidental thereto or necessary for the performance thereof:
    (a)  To have perpetual succession as a body politic and corporate;
    (b)  To adopt bylaws for the regulation of its affairs and the conduct of
    its business;
    (c)  To sue and be sued and to prosecute and defend, at law or in equity,
    in any court having jurisdiction of the subject matter and of the parties;
    (d)  To have and to use a corporate seal and to alter the same at
    pleasure;
    (e)  To maintain an office at such place or places as it may designate;
    (f)  To make and execute contracts and all other instruments necessary or
    convenient for the exercise of its powers and functions under this
    chapter;
    (g)  To acquire, whether by purchase, gift, grant, bequest, devise,
    exchange, eminent domain or otherwise, own, hold, improve, lease,
    transfer, assign, pledge and dispose of, any real or personal property or
    any interest therein necessary or convenient  in connection with any
    facility or its purposes under this chapter; provided however, that the
    power of eminent domain is limited to only those purposes and
    participating utilities as authorized by section 7-701, Idaho Code;
    (h)  To acquire, construct, reconstruct, renovate, improve, replace,
    maintain, repair, manage, operate, lease as lessee or lessor, and regulate
    any facility; to enter into contracts for any and all of such purposes and
    for the acquisition and management of fuel supplies, provided such is
    reasonably necessary for the operation and maintenance of any facility; to
    enter into contracts and agreements to manage risks associated with the
    purchase and sale of energy and energy commodities, provided such is
    reasonably necessary for the operation and maintenance of any facility;
    and shall designate one (1) or more qualified participating utilities as
    agent or agents of the authority, as agreed to among the participating
    utilities, with respect to the foregoing;
    (i)  To sell, lease or otherwise provide by contract to one (1) or more
    participating utilities the services, output or product provided by any or
    all of the facilities undertaken by the authority upon such terms and
    conditions as the authority and the participating utilities shall deem
    proper, and to establish, charge, collect and revise from time to time
    such rents, fees and charges for such services, output or product as
    provided for in this chapter;
    (j)  To borrow money and to issue bonds for any of the purposes described
    in this chapter, to issue refunding bonds and to enter into contracts and
    agreements determined by the authority to be necessary or desirable to
    manage its debt service and interest costs;
    (k)  To establish rules and regulations for the use of facilities and to
    designate a participating utility as its agent, to establish rules and
    regulations for the use of the facilities undertaken or operated by such
    participating utility;
    (l)  To employ or contract for consulting engineers, architects,
    attorneys, accountants, construction and financial experts,
    superintendents, managers, and such other employees and agents as may be
    necessary in its judgment and to fix their compensation;
    (m)  To enter into contracts, agreements or other transactions with and
    accept grants and the cooperation of the United States or any agency
    thereof or any state or any agency or governmental subdivision thereof, in
    furtherance of the purposes of this chapter including, but not limited to,
    the development, maintenance, operation, and financing of any facility and
    to do any and all things necessary in order to avail itself of such aid
    and cooperation;
    (n)  To receive and accept aid or contributions from any source of money,
    property, labor, or other things of value, to be held, used, and applied
    to carry out the purposes of this chapter subject to such conditions upon
    which such grants and contributions may be made, including, but not
    limited to, gifts or grants from any department or agency of the United
    States or any state for any purpose consistent with this chapter;
    (o)  To assign and pledge all or any part of its revenues and income and
    to mortgage or otherwise encumber any or all of its facilities and the
    site or sites thereof, whether then owned or thereafter acquired, for the
    benefit and security of the holders of bonds issued to finance such
    facilities or any portion thereof;
    (p)  To make loans to any participating utility to finance the cost of any
    facilities in accordance with an agreement between the authority and such
    participating utility;
    (q)  To make secured or unsecured loans to a participating utility to
    refinance obligations and indebtedness incurred for facilities undertaken
    and completed prior to or after the enactment of this chapter when the
    authority finds that such financing is in the public interest and either
    alleviates the financial hardship upon the participating utility or is in
    connection with other financing by the authority for such participating
    utility or may be expected to result in a cost-effective delivery of
    electricity to the consumers served by the participating utility, or any
    combination thereof;
    (r)  To charge to and equitably apportion its administrative costs and
    expenses incurred in the exercise of the powers and duties conferred by
    this chapter among the participating utilities that have entered into
    contracts with the authority;
    (s)  To procure insurance against any loss in connection with its property
    and other assets in such amounts and from such insurers as it deems
    desirable and to self-insure against such risks as it shall deem to be
    reasonable;
    (t)  To invest any funds not needed for immediate use or disbursement,
    including any funds held in reserve, in:
         (i)   Bonds, notes and other obligations of the United States or any
         agency or instrumentality thereof and other securities secured by
         such bonds, notes or other obligations;
         (ii)  Money market funds which are insured or the assets of which are
         limited to obligations of the United States or any agency or
         instrumentality thereof;
         (iii) Time certificates of deposit and savings accounts;
         (iv)  Commercial paper which, at the time of its purchase, is rated
         in the highest category by a nationally recognized rating service;
         (v)   Property or securities in which the state treasurer may invest
         funds in the state treasury pursuant to section 67-1210, Idaho Code;
         and
         (vi)  With respect to any funds representing bond proceeds or amounts
         pledged to the payment of bonds, such other investments as may be
         specified in a bond resolution or trust indenture securing bonds of
         the authority;
    (u)  To participate in cooperative ventures with any agencies or
    organizations in order to provide affordable and reliable energy to the
    residents of the state;
    (v)  To undertake and finance renewable energy generation projects
    developed by an independent power producer; and
    (w)  To do all things necessary and convenient to carry out the purposes
    of this chapter.
    (2)  Notwithstanding any other provision of this chapter, the authority
shall have no power to:
    (a)  Acquire the operating property of any investor-owned, private,
    cooperative, municipal or other utility by the exercise of the power of
    eminent domain;
    (b)  Provide financing for the acquisition of the operating property of
    any such utility by or under threat of eminent domain, in either case
    unless such utility consents in writing to the acquisition; or
    (c)  Deliver retail electricity or related retail products or services to
    any ultimate consumer, whether in violation of the Idaho electric supplier
    stabilization act or otherwise.