Idaho Code 67-8718 – Credit Enhancement or Liquidity
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(1) The authority may enter into agreements to obtain, from a department or agency of the United States or from a nongovernmental financial institution or other entity, insurance, guaranty or other credit enhancement or liquidity for the payment of interest or principal on, or payment of the purchase price on tender of:
(a) Bonds issued by the authority;
(b) Municipal bonds purchased or held by the authority; and
(c) Other municipal bonds as the authority determines to be appropriate.
(2) Agreements as provided in subsection (1) of this section may contain such payment, interest rate, security, default, remedies or other terms and conditions as the authority may determine to be necessary or appropriate.
Terms Used In Idaho Code 67-8718
- Bonds: means bonds, notes or other obligations of the authority issued under this chapter. See Idaho Code 67-8702
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC