Idaho § 40-718 - GARVEE funds established - Capital project fund - Debt service fund
Full text of Idaho Idaho Statutes § 40-718 — GARVEE funds established - Capital project fund - Debt service fund, with citation guidance and answers to common questions.
§ 40-718. GARVEE funds established - Capital project fund - Debt service fund
(1) There is established in the state treasury a fund known as the "GARVEE Capital Project Fund" which shall include:
(a) Any draw by the board of proceeds from the transportation bonds or notes issued by the Idaho housing and finance association in accordance with chapter 62, title 67 , Idaho Code.
(b) Interest earned on the investment of idle moneys in the GARVEE capital project fund shall be paid to the GARVEE capital project fund.
Disbursements from this fund shall be made for projects in accordance with chapter 3, title 40 , Idaho Code. All moneys in the fund are hereby continuously appropriated to the department.
(2) There is established in the state treasury a fund known as the "GARVEE Debt Service Fund" for the purpose of paying the principal, interest and other amounts required for transportation bonds or notes of the Idaho housing and finance association in accordance with chapter 62, title 67 , Idaho Code. The fund shall include:
(a) Amounts transferred from the state highway account upon certification by the Idaho housing and finance association to the state controller, state treasurer and the board as necessary for payment of principal, interest and other amounts required for transportation bonds or notes.
(b) Amounts distributed pursuant to section 63-2520 (b)(4), Idaho Code. Provided that such moneys distributed to the GARVEE debt service fund pursuant to this paragraph shall be used in combination with the amounts provided for in paragraph (a) of this subsection and shall be used for payment of principal, interest and other amounts required for transportation bonds or notes.
(c) Interest earned on the investment of idle moneys in the GARVEE debt service fund shall be paid to the GARVEE debt service fund.
From moneys within this fund, there are hereby continuously appropriated such amounts as, from time to time, shall be certified by the Idaho housing and finance association to the state controller, state treasurer and the board as necessary for payment of principal, interest and other amounts required for transportation bonds or notes of the Idaho housing and finance association in accordance with chapter 62, title 67 , Idaho Code, which amounts shall be paid over as directed by the association.
[40-718, added 2005, ch. 378, sec. 6, p. 1221; am. 2014, ch. 115, sec. 1, p. 328; am. 2024, ch. 237, sec. 35, p. 847.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 40-718
What does Idaho Statutes § 40-718 cover?
Section 40-718 ("GARVEE funds established - Capital project fund - Debt service fund") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 40-718?
A common citation format is "Idaho Statutes § 40-718" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 40-718 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.