Idaho State Statutes - Idaho Attorney Directory

Any institution in connection
with the issuance of the bonds or in order to secure the payment of such bonds
and interest thereon, shall have power by resolution of its board:
(a) To fix and maintain (1) fees, rentals and other charges from
students, faculty members and others using or being served by, or having the
right to be served by any project, (2) matriculation, hospital, laboratory,
athletic, admission and other fees from students, faculty members and others
matriculated, attending or employed at such institutions, and from the public
in general, for the facilities afforded by such institution (which shall be
uniform to all those similarly situated), (3) fees, rentals and other charges
from students, faculty members and others using or being served by, or having
the right to use, or having the right to be served by, existing buildings,
stadia, and other structures at any institution which issues bonds hereunder
to acquire a project, which fees, rentals and other charges from students,
faculty members and others using or being served by, or having the right to
use, or having the right to be served by such buildings, stadia and other
structures shall be the same as those applicable to any project similar in
nature and purpose to such existing buildings, stadia, and other structures;
provided, however, that as between such project and the existing buildings at
the institution there may be allowed reasonable differentials based on the
condition, type, location and relative convenience of such project and such
existing buildings, but such differentials shall be uniform as to all such
students or faculty members and others similarly accommodated;
(b) To provide that bonds issued hereunder shall be secured by a first,
exclusive and closed lien on the income and revenue derived from, and shall be
payable from, (1) fees, rentals and other charges from students, faculty
members and others using or being served by, or having the right to use, or
having the right to be served by, any project, and any existing buildings,
stadia, and other structures, and (2) matriculation, hospital, laboratory,
athletic, admission and other fees from students, faculty members and others
matriculated, attending or employed at such institution, and from the public
in general, for the facilities afforded by such institution, and (3) the
proceeds of grants of funds and moneys received or to be received from the
United States of America, or any agency or instrumentality thereof, pursuant
to agreements entered into between the board and the United States of America,
or any agency or instrumentality thereof, prior to the issuance of the bonds.
(c) To pledge and assign to, or in trust for the benefit of, the holder
or holders of the bonds issued hereunder an amount of the income and revenue
derived from (1) fees, rentals and other charges from students, faculty
members and others using or being served by, or having the right to use, or
having the right to be served by, any project, and any existing buildings,
stadia, and other structures, and (2) matriculation, hospital, laboratory,
athletic, admission and other fees from students, faculty members and others
matriculated, attending or employed at such institution, and from the public
in general, for the facilities afforded by such institution, and (3) the
proceeds of grants of funds and moneys received or to be received from the
United States of America, or any agency or instrumentality thereof, pursuant
to agreements entered into between the board and the United States of America,
or any agency or instrumentality thereof, prior to the issuance of the bonds,
which shall be sufficient to pay when due the bonds issued hereunder to
acquire such project, and interest thereon, and to create and maintain
reasonable reserves therefor;
(d) To covenant with or for the benefit of the holder or holders of bonds
issued hereunder to acquire any project that so long as any such bonds shall
remain outstanding and unpaid, such institution will fix, maintain and collect
in such installments as may be agreed upon (1) an amount of the fees, rentals
and other charges from students, faculty members and others using or being
served by, or having the right to use, or having the right to be served by,
any project, and any existing buildings, stadia, and other structures which,
together with (2) an amount of the matriculation, hospital, laboratory,
athletic, admission and other fees from students, faculty members and others
matriculated, attending or employed at such institution, and from the public
in general, for the facilities afforded by such institution, and (3) the
proceeds of grants of funds and moneys received or to be received from the
United States of America, or any agency or instrumentality thereof, pursuant
to agreements entered into between the board and the United States of America,
or any agency or instrumentality thereof, prior to the issuance of the bonds,
shall be sufficient to pay when due the bonds issued hereunder to acquire such
project, and interest thereon, and to create and maintain reasonable reserves
therefor, and to pay the costs of operation and maintenance of such project,
including, but not limited to, reserves for extraordinary repairs, insurance
and maintenance, which costs of operation and maintenance shall be determined
by the board in its absolute discretion;
(e) To make and enforce and agree to make and enforce parietal rules that
shall insure the use of any project by all students in attendance at such
institution to the maximum extent to which such project is capable of serving
such students, or if such project is designed for occupancy as living quarters
for the faculty members, by as many faculty members as may be served thereby;
(f) To covenant that so long as any of the bonds issued hereunder shall
remain outstanding and unpaid, it will not, except upon such terms and
conditions as may be determined (1) voluntarily create or cause to be created
any debt, lien, pledge, assignment, encumbrance or other charge having
priority to or being on a parity with the lien of the bonds issued hereunder
upon any of the income and revenues derived from fees, rentals and other
charges from students, faculty members and others using or being served by, or
having the right to be served by, any project and any existing buildings,
stadia, and other structures, and from matriculation, hospital, laboratory,
athletic, admission and other fees from students, faculty members and others
matriculated, attending or employed at such institution, and from the public
in general, for the facilities afforded by such institution, or (2) convey or
otherwise alienate the project to acquire which such bonds shall have been
issued, or the real estate upon which such project shall be located, except at
a price sufficient to pay all the bonds then outstanding issued hereunder to
acquire such project and interest accrued thereon, and then only in accordance
with any agreements with the holder or holders of such bonds, or (3) mortgage
or otherwise voluntarily create or cause to be created any encumbrance on the
project to acquire which such bonds shall have been issued or the real estate
upon which it shall be located.
(g) To covenant as to the procedure by which the terms of any contract
with a holder or holders of such bonds may be amended or rescinded, the amount
or percentage of bonds the holder or holders of which must consent thereto,
and the manner in which such consent may be given.
(h) To vest in a trustee or trustees the right to receive all or any part
of the income and revenue pledged and assigned to, or for the benefit of, the
holder or holders of bonds issued hereunder, and to hold, apply and dispose of
the same and the right to enforce any covenant made to secure or pay or in
relation to the bonds; to execute and deliver a trust agreement or trust
agreements which may set forth the powers and duties and the remedies
available to such trustee or trustees and limiting the liabilities thereof and
describing what occurrences shall constitute events of default and prescribing
the terms and conditions upon which such trustee or trustees or the holder or
holders of bonds of any specified amount or percentage of such bonds may
exercise such rights and enforce any and all such covenants and resort to such
remedies as may be appropriate.
(i) To vest in a trustee or trustees or the holder or holders of any
specified amount or percentage of bonds the right to apply to any court of
competent jurisdiction for and have granted the appointment of a receiver or
receivers of the income and revenue pledged and assigned to or for the benefit
of the holder or holders of such bonds, which receiver or receivers may have
and be granted such powers and duties as such court may order or decree which
powers and duties may include any and all such powers and duties as are
usually granted under the laws of the state of Idaho to a receiver or
receivers appointed in connection with the foreclosure of a mortgage made by a
private corporation.
(j) To make covenants with any federal agency to perform any and all acts
and to do any and all such things as may be necessary or convenient or
desirable in order to secure its bonds, or as may in the judgment of the board
tend to make the bonds more marketable, notwithstanding that such acts or
things may not be enumerated herein, it being the intention hereof to give any
institution issuing bonds pursuant to sections 33-3801--33-3813, Idaho Code,
power to make all covenants, to perform all acts and to do all things, not
inconsistent with the constitution of the state of Idaho, in the issuance of
the bonds and for their security, including any and all powers granted to a
private corporation under the laws of the state of Idaho.

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