(1) The authority will endeavor to achieve efficiencies and economies of scale by pursuing the development of facilities with multiple participating utilities on a joint and cooperative basis and shall, to the fullest extent practicable, offer all potential participating utilities the opportunity to participate in the development of a facility and the electricity, service or product to be provided by the facility.
(2)  The authority shall not commence the development or financing for any facility until it shall have entered into contractual arrangements with one (1) or more participating utilities that contain provisions acceptable to both the authority and the participating utility or utilities and which are determined by the authority to provide adequate assurance that all capital, operating and related costs of the facility will be paid by or provided for by one (1) or more participating utilities.

Terms Used In Idaho Code 67-8909

  • Authority: means the Idaho energy resources authority created pursuant to section 67-8904, Idaho Code. See Idaho Code 67-8903
  • Bonds: means any bonds, notes, certificates or other obligations or evidences of indebtedness issued by the authority. See Idaho Code 67-8903
  • Facility: means any facility necessary, used or useful in connection with the generation, transmission or distribution of electric power and energy and any clean energy generation project, in each case including but not limited to all real and personal property, fuel supplies and transportation facilities, pollution control facilities, battery and other energy storage facilities, and all equipment and improvements necessary or desirable in connection with a facility. See Idaho Code 67-8903
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Participating utility: means , with respect to any facilities undertaken by the authority pursuant to this chapter, any public or private corporation, electric cooperative or other cooperative corporation or association, municipal corporation, political subdivision of this state or another state, state or federal agency, joint operating entity or other entity that:
Idaho Code 67-8903
(3)  The authority may acquire, construct and own any facility undertaken by it, may cause such facility to be acquired and constructed on its behalf by one (1) or more participating utilities as its agent, may enter into joint ownership arrangements with respect to any facility, and may enter into contractual arrangements with third parties for the acquisition and construction of a facility.
(4)  Upon the payment in full of all bonds issued by the authority to finance or refinance the cost of a facility and upon the discharge of all other obligations of the authority with respect to a facility, the authority will convey title to the facility to the participating utility or utilities with respect to such facility, unless a participating utility requests in writing to the authority that it continue to retain title of the facility on behalf of the participating utility. Any such conveyance shall be in proportion to the funds provided or paid by the participating utility in respect of the debt service and operating costs of the facility. The authority may, in its agreements with a participating utility, pledge and assign its interest in a facility to secure its obligation to convey title to the facility as provided in this section. Any such pledge shall be made in the same manner and with the same effect as provided in section 67-8915, Idaho Code, and shall be subordinate only to any pledge or assignment to secure the payment of the bonds issued by the authority to finance the development, acquisition or construction of the facility.