70-2112 POWERS NOT RESTRICTED -- LAW COMPLETE IN ITSELF. - Idaho Statutes

TITLE 70

WATERCOURSES AND PORT DISTRICTS

CHAPTER 21

IDAHO PORT DISTRICT ECONOMIC DEVELOPMENT FINANCING ACT

70-2112. Powers not restricted -- Law complete in itself. Neither this act nor anything herein contained shall be construed as a restriction or limitation upon any powers which any port district might otherwise have under any laws of the state of Idaho, but shall be construed as cumulative of any such powers. No proceedings, notice or approval shall be required for the issuance of any revenue bonds or any instrument as security therefor, except that no revenue bonds shall be issued hereunder until the commission shall by resolution adopted by a majority of the commission determine that the project to be financed with the proceeds of said revenue bonds will increase or maintain employment opportunities in the port district issuing said revenue bonds. The resolution containing the declaration of public interest or necessity herein required, shall recite the objects and purposes for which the revenue bonds are proposed to be issued, the amount of principal of the revenue bonds, and the source of revenues pledged to the payment of said bonds.