Idaho State Statutes - Idaho Attorney Directory

It shall be the duty of the state
treasurer to invest idle moneys in the state treasury, other than moneys in
public endowment funds, in any of the following:
(a) 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.
(b) General obligation or revenue bonds of this state, or those for which
the faith and credit of this state are pledged for the payment of principal
and interest.
(c) General obligation or revenue bonds of any county, city, metropolitan
water district, municipal utility district, school district or other taxing
district of this state.
(d) 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 [U.S.C., tit. 12, 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 [U.S.C., tit. 12, sections 1421-1449]; in bonds, debentures and other
obligations of the federal national mortgage association established under the
national housing act [U.S.C., tit. 12, sections 1701-1750g) as amended, and
in the bonds of any federal home loan bank established under said act and in
other obligations issued or guaranteed by agencies or instrumentalities of the
government of the state of Idaho or of the United States, including the United
States small business administration guaranteed portion of any loan approved
by an Idaho banking corporation and by the state treasurer.
(e) 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.
(f) Repurchase agreements covered by any legal investment for the state
of Idaho.
(g) Tax anticipation notes and registered warrants of the state of Idaho.
(h) Tax anticipation bonds or notes and income and revenue anticipation
bonds or notes of taxing districts of the state of Idaho.
(i) Time deposit accounts and savings accounts in state depositories
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.
(j) Time deposit accounts and 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 insurance 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.
(k) Revenue bonds of institutions of higher education of the state of
Idaho.
(l) 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 deposit 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.
(m) Money market funds whose portfolios consist of any allowed investment
as specified in this section. The securities held in money market portfolios
must be dollar-denominated, meaning that all principal and interest payments
on such a security are payable to security holders in United States dollars.
The term "idle moneys" means the balance of cash and other evidences of
indebtedness which are accepted by banks as cash in the ordinary course of
business, in demand deposit accounts, after taking into consideration all
deposits and withdrawals, on a daily basis.
The interest received on all such investments, unless otherwise
specifically required by law, shall be paid into the general account of the
state of Idaho. Provided, unless otherwise specifically provided by statute,
any interest earned on funds received by the state pursuant to a federal law,
regulation, or federal-state agreement which governs disposition of interest
earned upon such funds shall be accounted for separately to give effect to the
federal law, regulation, or federal-state agreement.
If the interest is to be credited to a separate account, the state
treasurer shall charge the account an investment administration fee. The
amount of the fee shall be determined annually by the state treasurer and
submitted to the board of examiners for approval as stipulated in section
67-3524, Idaho Code. The fee shall be expressed as an annual percentage of
the average daily balance of the account, including separate investments, if
any, of that account. The fee shall be charged monthly in an amount
approximately one-twelfth (1/12) of the fee which would be payable on an
annual basis. The amount of the investment administration fee shall constitute
an appropriation from the account for which the investment administration
services are rendered.
The state treasurer shall charge an investment administration fee to each
such state fund or account, including the general account, which receives
investment income from investments administered by the office of state
treasurer. The investment administration fee shall be determined annually by
the state treasurer and submitted to the board of examiners for approval, as
stipulated in section 67-3524, Idaho Code. The fee shall be expressed as an
annual percentage of the average daily balance of the fund or account,
including separate investments, if any, of that fund or account. The fee shall
be charged monthly in an amount approximately one-twelfth (1/12) of the fee
which would be payable on an annual basis. The amount of the investment
administration fee shall constitute an appropriation from the fund or account
for which the investment administration services are rendered.
The term "to invest" means to use the idle moneys in the state treasury to
buy, sell, including selling before maturity at either a gain or a loss,
retain, or exchange any of the investments described in this section,
considering the probable safety of the capital, the probable income to be
derived, and the liquidity of the assets.

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