33-2113. CAPITAL FUNDS. (1) The board of trustees of each junior college district may issue general obligation bonds in the manner and form, and for the same purposes, as prescribed for public school districts, the maximum amount of general obligation bonds outstanding, computed in the manner so prescribed shall not at any time exceed one per cent (1%) of the market value for assessment purposes of the taxable property in the district. The board may also create a plant facilities reserve fund in the manner, and for the same purposes, as prescribed for school districts.
(2) Tax levies for the purposes of this section shall be certified to the board of county commissioners at the same time as are certified the tax levies provided in section 33-2111, Idaho Code.
(3) The board of trustees of each junior or community college district may issue bonds in the same manner and form, and for the same purposes as state institutions of higher education pursuant to chapter 38, title 33, Idaho Code.
History:
[33-2113, added 1963, ch. 363, sec. 13, p. 1037; am. 1980, ch. 350, sec. 15, p. 902; am. 1987, ch. 264, sec. 1, p. 556.]