Idaho State Statutes - Idaho Attorney Directory

The treasurer shall be required
to keep all money in his hands belonging to the corporation in such place or
places of deposit as shall be provided by ordinance; provided, however, that
the treasurer may be directed and empowered by resolution, to invest any money
in his hands in any of the following:
(a) Revenue bonds issued by the revenue bond act.
(b) City coupon bonds provided for under section 50-1019, Idaho Code.
(c) Local improvement district bonds provided for under chapter 17, title
50, Idaho Code.
(d) Time deposit accounts with public depositories.
(e) Bonds, treasury bills, interest-bearing notes, or other obligations
of the United States, or those for which the faith and credit of the United
States are pledged for the payment of principal and interest.
(f) General obligation bonds of this state, or those for which the faith
and credit of this state are pledged for the payment of principal and
interest.
(g) General obligation bonds of any county, city, metropolitan water
district, municipal utility district, school district or other taxing district
of this state.
(h) Notes, bonds, debentures, or other similar obligations issued by the
farm credit system or institutions forming a part thereof under the farm
credit act of 1971 (12 U.S.C. sections 2001-2259) and all acts of congress
amendatory thereof or supplementary thereto; in bonds or debentures of the
federal home loan bank board established under the federal home loan bank act
(12 U.S.C. sections 1421-1449); in bonds, debentures and other obligations of
the federal national mortgage association established under the national
housing act (12 U.S.C. sections 1701-1750g) as amended, and in the bonds of
any federal home loan bank established under said act and in other obligations
of agencies and instrumentalities of the government of the state of Idaho or
of the United States.
(i) Bonds, notes or other similar obligations issued by public
corporations of the state of Idaho including, but not limited to, the Idaho
state building authority, the Idaho housing authority and the Idaho water
resource board, but such investment shall not extend beyond seven (7) days.
(j) Repurchase agreements and reverse repurchase agreements covered by
any legal investment for the state of Idaho or as otherwise allowed by this
section, provided that reverse repurchase agreements shall only be used for
the purpose of liquidity and not for leverage or speculation.
(k) Tax anticipation bonds or notes, income and revenue anticipation
bonds or notes and registered warrants of the state of Idaho or of taxing
districts of the state of Idaho.
(l) Savings accounts including, but not limited to, accounts on which
interest or dividends are paid and upon which negotiable orders of withdrawal
may be drawn, and similar transaction accounts.
(m) Time deposit accounts and other savings accounts of state or federal
savings and loan associations located within the geographical boundaries of
the state in amounts not to exceed the insurance provided by the federal
savings and loan corporation, including, but not limited to, accounts on which
interest or dividends are paid and upon which negotiable orders of withdrawal
may be drawn, and similar transaction accounts.
(n) Share, savings and deposit accounts of state and federal credit
unions located within the geographical boundaries of the state in amounts not
to exceed the insurance provided by the national credit union share insurance
fund and/or any other authorized share guaranty corporation, including, but
not limited to, accounts on which interest or dividends are paid and upon
which negotiable orders of withdrawal may be drawn, and similar transaction
accounts.
(o) Prime banker's acceptances.
(p) Prime commercial paper.
(q) Money market funds, mutual funds, or any other similar funds whose
portfolios consist of any allowed investment as specified in this section.
(r) Bonds, debentures or notes of any corporation organized, controlled
and operating within the United States which have, at the time of their
purchase, an A rating or higher by a commonly known rating service.

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