Idaho § 67-1212 UNPAID WARRANTS — INTEREST — RECORD

Idaho Statutes

§ 67-1212 — UNPAID WARRANTS — INTEREST — RECORD

Idaho·Title 67 STATE GOVERNMENT AND STATE AFFAIRS·Ch. 12 STATE TREASURER

(1)All warrants drawn upon funds in which the balance is insufficient to pay them must be reported to the state treasurer by the state controller. All such warrants shall be registered by the state treasurer as follows: he shall date and sign the report and return the same to the state controller who shall notify the respective payees. It is the duty of the state treasurer to keep a report of all warrants not paid for want of moneys, in which report such warrants shall be listed in numerical order, and when paid the treasurer shall note the amount of interest paid and the date of payment. Any such warrants registered by the state treasurer shall from date of registration until paid bear interest at a rate to be fixed by the state treasurer.

(2)In lieu of registering warrants as provided

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(1) All warrants drawn upon funds in which the balance is insufficient to pay them must be reported to the state treasurer by the state controller. All such warrants shall be registered by the state treasurer as follows: he shall date and sign the report and return the same to the state controller who shall notify the respective payees. It is the duty of the state treasurer to keep a report of all warrants not paid for want of moneys, in which report such warrants shall be listed in numerical order, and when paid the treasurer shall note the amount of interest paid and the date of payment. Any such warrants registered by the state treasurer shall from date of registration until paid bear interest at a rate to be fixed by the state treasurer.
(2) In lieu of registering warrants as provided in subsection (1) of this section, the state treasurer shall have authority to:
(a) Pay such warrants out of any moneys available allowing the fund to remain negative for up to thirty (30) days; the state treasurer shall charge the fund for which such moneys are advanced an amount of interest substantially equal to what could have been earned had the advanced moneys been invested, and the amount of the interest shall constitute an appropriation from the fund for which the advancement was made. If moneys are not sufficient in the fund after thirty (30) days, unless otherwise excepted by law, the state treasurer shall make inter-fund transfers subject to the following requirements:
(i) All transfers shall be identified by: available funds from which moneys are borrowed, the fund to which the moneys are transferred, amount of transfer, the anticipated interest rate consistent with the available funds’ current rate of return, if applicable, the anticipated repayment date and the reason for the transfer;
(ii) Interest, if applicable, shall be paid on any transfer, where required by law, under this provision;
(iii) The treasurer shall maintain an annual report of all such inter-fund transfers.
(b) Issue tax anticipation notes as provided by chapter 32, title 63, or section 57-1112, Idaho Code.

Idaho § 67-1212 (UNPAID WARRANTS — INTEREST — RECORD) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

[67-1212, added 1864, p. 415, sec. 5; R.S., sec. 238; am. 1899, p. 228, sec. 1; am. 1901, p. 107, sec. 1; am. R.C., sec. 125; reen. C.L., sec. 125; am. 1919, ch. 123, sec. 1, p. 408; C.S., sec. 168; am. 1927, ch. 129, sec. 1, p. 172; I.C.A., sec. 65-1112; am. 1933, (E.S.), ch. 5, sec. 1, p. 9; am. 1976, ch. 42, sec. 22, p. 103; am. 1977, ch. 222, sec. 1, p. 665; am. 1983, ch. 4, sec. 16, p. 18; am. 1983, ch. 140, sec. 1, p. 347; am. 1994, ch. 180, sec. 178, p. 538; am. 2010, ch. 192, sec. 1, p. 410; am. 2021, ch. 160, sec. 22, p. 456.]