2010 Idaho Code
TITLE 67 STATE GOVERNMENT AND STATE AFFAIRS
CHAPTER 74 IDAHO STATE LOTTERY
67-7430 TEMPORARY LINE OF CREDIT FOR START-UP COSTS.
STATE GOVERNMENT AND STATE AFFAIRS
CHAPTER 74
IDAHO STATE LOTTERY
67-7430. Temporary line of credit for start-up costs. There is hereby established a temporary line of credit to be drawn from the state general account to the state lottery account in the amount of one million dollars ($1,000,000). This amount of money is continuously appropriated for carrying out the purposes of this chapter. This temporary line of credit may be drawn upon by the state lottery only during the first eighteen (18) months after the effective date of this chapter and only for the purpose of financing the initial start-up of the lottery. The state lottery may draw upon all or part of this temporary line of credit, as shall be required. The money so advanced from the state general account shall be repaid with interest to the general account within one (1) year from the date the state lottery first begins to sell lottery tickets or shares. The interest of ten percent (10%) per annum, shall be calculated upon the principal amount outstanding each month until repaid.
Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
