Terms Used In Idaho Code 67-6421

  • Authority: means the Idaho state building authority created and established pursuant to section 67-6403, Idaho Code. See Idaho Code 67-6402
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Property: includes both real and personal property. See Idaho Code 73-114
  • State: means the state of Idaho. See Idaho Code 67-6402
The state may make grants of money or property and may lease property to the authority for the purpose of enabling it to carry out its corporate purposes and for the exercise of its powers, including, but not limited to, deposits to the reserve funds of the authority. Notwithstanding any other provision of law to the contrary, the state may lease, with or without consideration, real or personal property to the authority for a term not to exceed fifty (50) years. This section shall not be construed to limit any other power the state may have to make such grants or to lease property to the authority, or to enter into other transactions with the authority.