43-2301 RECONSTRUCTION OF DAMS, CANALS AND OTHER IRRIGATION DISTRICT WORKS AND RELATED APPURTENANCES -- HYDROELECTRIC FACILITIES -- EXECUTION OF CONTRACTS -- REVENUES -- TRUSTS.
IRRIGATION DISTRICTS
CHAPTER 23
RECONSTRUCTION OF DAMS AND RELATED APPURTENANCES -- HYDROELECTRIC FACILITIES CONSTRUCTION
43-2301. Reconstruction of dams, canals and other irrigation district works and related appurtenances -- Hydroelectric facilities -- Execution of contracts -- Revenues -- Trusts. Any irrigation district organized and existing under the provisions of title 43, Idaho Code, in addition to any other powers which it might enjoy, for the purpose of preserving, restoring, protecting and maintaining rights of storage, diversion and delivery of water necessary and appurtenant to the purposes for which such district and other like similarly situated districts were organized, is hereby granted the following additional powers:
(a) To provide for or to reconstruct, rehabilitate, replace, modify or improve dams, canals and other irrigation district works, including the construction, enlargement and replacement of outlet and intake tunnels and structures, and other related structures and works together with all necessary appurtenances related thereto, whether located within or without the boundaries of the district and whether or not legal title thereto is owned by the district, including without limitation as a part thereof the reconstruction and relocation of all roads, bridges and highways made necessary by reason of such reconstruction, rehabilitation, replacement, modification or improvement, or the construction of hydroelectric generating facilities as authorized in subsection (b) of this section, and in connection therewith the acquisition of related facilities for flood control, public recreation, and fish and wildlife mitigation and enhancement purposes made necessary in order to comply with applicable state and federal requirements;
(b) To provide for or to construct hydroelectric generating facilities, properties and related structures in connection with and as a part of the reconstruction, rehabilitation, replacement, modification or improvement of a dam, a canal or other irrigation district works pursuant to subsection (a) of this section, together with all necessary equipment and appurtenances related thereto, used in or useful for the generation of electricity, including power plants, turbine generators, penstocks, transformers, electrical equipment and other facilities related to hydroelectric production plants;
(c) To enter into all necessary agreements, contracts and other legal arrangements with the United States and its agencies, other irrigation districts organized and existing under the provisions of title 43, Idaho Code, and other public and private persons, firms, corporations and associations, and irrigation districts similar to those existing under title 43, Idaho Code, but organized and existing under the laws of another state of the United States, in order to carry out or provide for the reconstruction, rehabilitation, replacement, modification or improvement of any such dam, canal or other irrigation district works and other related structures and works and appurtenances and the construction of any such hydroelectric generating facilities, the financing thereof pursuant to the provisions of this chapter, including provisions relating to the issuance of bonds or contracting indebtedness with a money-lending institution to pay the costs thereof by an irrigation district which is a party to a contract or agreement, the sale of surplus electric energy or the sale or use of rights to falling water in such manner as shall be necessary and desirable and in the best interests of the district, and the operation and maintenance of all or any part of such dam, canal or other irrigation district works so reconstructed, rehabilitated, replaced, modified and improved and of such hydroelectric generating facilities so constructed, which agreements or contracts may provide for the reconstruction, rehabilitation, replacement, modification or improvement of any such dam, canal or other irrigation district works and other related structures and works and appurtenances, the construction of hydroelectric generation facilities, the terms governing the disposition and sale of surplus electric energy or the sale or use of rights to falling water in relation to such dam, canal or other irrigation district works and generating facilities, which terms may include a provision requiring any purchaser of the surplus electric energy or falling water to purchase all the surplus energy generated or all the rights to or use of falling water associated with such dam, canal or other irrigation district works and hydroelectric generating facilities, the conditions under which the purchaser of the surplus electric energy or rights to use of falling water shall make payments to the district issuing the bonds, the rights and remedies of the parties thereto in the event of the failure of the purchaser of the surplus electric energy or rights to or use of falling water to make the required payments thereunder and the securing of all necessary permits and licenses required in connection therewith; the creation of a committee of representatives of the parties to the agreement or contract, which committee shall have such powers not inconsistent with the provisions of this chapter;
(d) To issue bonds of the district or to contract indebtedness with a money-lending institution in the manner provided in this chapter, or to consent to the issuance of such bonds or the contracting of indebtedness with a money-lending institution by another contracting irrigation district pursuant to the provisions of subsection (c) of this section, for the purpose of paying all or part of the cost of the reconstruction, rehabilitation, replacement, modification or improvement of any such dam, canal or other irrigation district works and other related structures and works and appurtenances and the construction of hydroelectric generating facilities as further described in subsections (a), (b) and (c) above, and for the purpose of paying all expenses preliminary and incidental thereto, including all engineering, fiscal and legal expenses and costs of issuance or contracting, printing, advertising, establishment of necessary reserves and payment of interest during construction;
(e) To provide that any bond issued and sold or any indebtedness contracted pursuant to the provisions of this chapter shall be payable out of a special fund into which the district issuing the bonds shall be obligated to deposit, as from time to time received, all or a designated portion of the proceeds from the sale of electric energy generated by hydroelectric generating facilities to be so constructed or from the sale or use of rights to falling water from the dam, canal or other irrigation district works to be so reconstructed, rehabilitated, replaced, modified or improved, all pursuant to contracts to be entered into as authorized in subsection (c) of this section; and
(f) In addition to the sources of payment for bonds or indebtedness set forth in subsection (e) of this section, the district may also:
(i) Pay such bonds or indebtedness from, or pledge for the payment of such bonds or indebtedness, any other assets, revenue or income of the district; or
(ii) Enter into agreements with financial, banking, insurance and other institutions for bond insurance, letters of credit, standby letters of credit, reimbursement agreements and remarketing, indexing and tender agent agreements to secure such bonds or indebtedness, including payment from any legally available source of fees, charges or other amounts coming due under such agreements entered into in connection with the issuance of the bonds or indebtedness.
(g) To enter into a trust indenture securing the bonds issued pursuant to the provisions hereof with a bank or trust company doing business either within or without the state of Idaho, and to assign the rights of the district to receive the payments provided for in subsection (e) of this section to such bank or trust company as trustee for and on behalf of the bondholders.