Idaho State Statutes - Idaho Attorney Directory

TAXES FOR THE SUPPORT OF LIBRARY DISTRICT -- TAX ANTICIPATION
LOANS -- CARRY OVER AUTHORITY -- CAPITAL ASSETS REPLACEMENT AND REPAIR FUND.
(1) Any tax levied for library district purposes shall be a lien upon the
property against which the tax is levied. The board of trustees shall
determine and levy a tax upon each dollar of assessed valuation of property
within the district for the ensuing fiscal year as shall be required to
satisfy all maturing bond, bond interest, and judgment obligations. For the
maintenance and operation of the library district, the board of trustees may
also levy upon the taxable property within the district a tax not to exceed
six hundredths percent (.06%) of market value for assessment purposes. These
levies shall be certified to the board of county commissioners of each county
in which the district may lie, not later than the second Monday in September
of each year.
(2) In the first year after establishment, the board of a district may,
for the purpose of organization and to finance general preliminary expenses of
the district and before making a tax levy, incur an indebtedness not exceeding
in the aggregate a sum equal to six hundredths percent (.06%) on each one
dollar ($1.00) of market value for assessment purposes of all taxable property
within the district. To repay the organization indebtedness incurred, the
board shall have authority to levy and collect an additional tax not to exceed
two hundredths percent (.02%) per annum on each one dollar ($1.00) of market
value for assessment purposes of all taxable property within the district.
This additional levy shall not be used for any purpose other than repayment of
the organizational indebtedness and interest thereon. This additional levy may
be imposed for three (3) years.
(3) Library districts may accumulate fund balances at the end of a fiscal
year and carry over these fund balances into the ensuing fiscal year,
sufficient to achieve or maintain library district operations on a cash basis.
A fund balance is the excess of the assets of a fund over its liabilities and
reserves.
(4) The board of trustees of a library district may establish a capital
assets replacement and repair fund within the library district budget for
which district moneys may be budgeted and carried over from year to year.
Disbursements from the fund may be made as the board may determine to
maintain, repair, or replace the capital assets of the district to remodel or
repair any existing library building; to furnish and equip any existing
library building; and to purchase or replace major appliances and vehicles
necessary to maintain and operate the services of the district. Moneys from
the capital assets replacement and repair fund may not be used for the
purchase of land or to build new library facilities or to build additions to
current library facilities. Moneys in the fund may be invested in the manner
provided in section 57-127, Idaho Code. In any year in which there is a
capital assets replacement and repair fund in a library district, the amount
held in the fund shall be reported in the library district's budget hearing
announcement, along with a list of capital items which may eventually be
replaced or repaired with moneys from the fund. The fund shall be included in
the annual report filed with the state library board and in the audit required
in section 33-2726, Idaho Code.

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