Idaho § 67-6416 - Refunding obligations - Use of proceeds
Full text of Idaho Idaho Statutes § 67-6416 — Refunding obligations - Use of proceeds, with citation guidance and answers to common questions.
§ 67-6416. Refunding obligations - Use of proceeds
Refunding obligations issued as provided in section 67-6412 may be sold or exchanged for outstanding obligations issued under this act and, if sold, the proceeds thereof may be applied, in addition to any other authorized purposes, to the purchase, redemption or payment of such outstanding obligations. Pending the application of the proceeds of any such refunding obligations, with any other available funds, to the payment of the principal, accrued interest and any redemption premium on the obligations being refunded, and, if so provided or permitted in the resolution authorizing the issuance of such refunding obligations or in the trust agreement securing the same, to the payment of any interest on such refunding obligations and any expenses in connection with such refunding, such proceeds may be invested in direct obligations of, or obligations the principal of and the interest on which are unconditionally guaranteed by the United States of America which shall mature or which shall be subject to redemption by the holders thereof, at the option of such holders, not later than the respective dates when the proceeds, together with the interest accruing thereon, will be required for the purposes intended.
[67-6416, added 1974, ch. 111, sec. 16, p. 1263.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 67-6416
What does Idaho Statutes § 67-6416 cover?
Section 67-6416 ("Refunding obligations - Use of proceeds") 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 § 67-6416?
A common citation format is "Idaho Statutes § 67-6416" (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 § 67-6416 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.