Idaho State Statutes - Idaho Attorney Directory

The
state board of education and board of regents of the University of Idaho,
acting as the board of regents of the University of Idaho, or as the board of
trustees of the Lewis-Clark Normal School, or as the board of trustees of the
Idaho State University are hereby authorized to enter into contracts with
persons, firms and corporations, for the purpose of providing dormitory and
housing facilities for the students of said institutions; for said purposes
said board may contract for the leasing and purchase of lands and buildings
and for the purchase and installation of fixtures, furniture, furnishings and
equipment in such buildings; said board may contract to pay as rent or
otherwise a sum sufficient to pay, on the amortization plan, the principal and
interest thereon, of the purchase-price of lands and buildings, such contracts
to run not over twenty (20) years; the rate of interest on the principal on
any purchase shall not exceed seven per cent (7%) per annum payable
semi-annually or annually.

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