67-1221. FISCAL AGENCY IN NEW YORK CITY. The state treasurer may appoint a reputable bank in the city of New York as fiscal agent of the state of Idaho. Such fiscal agent may, under the instructions of the state treasurer, receive and pay out moneys for the state of Idaho. The state treasurer shall, in selecting such fiscal agent, obtain the best terms possible for handling any business of the state which requires payment in the city of New York. Any commissions or charges or expenses for services shall be a proper charge, in the following order, against:
(1) The proceeds of any bond or note sale for which such fiscal agent is appointed, or
(2) The office appropriation of the state treasurer.
Upon formal application to the state treasurer by the holder of any bond or obligation of the state of Idaho, both principal and interest may be paid in the city of New York by such fiscal agent. In all other respects, the provisions of the state depository law must obtain.
History:
[(67-1221) 1921, ch. 60, sec. 1, p. 112; I.C.A., sec. 65-1121; am. 1976, ch. 42, sec. 25, p. 106; am. 1977, ch. 224, sec. 1, p. 669; am. 1983, ch. 69, sec. 1, p. 154.]