House Bill 218 Summary

• Extends the maximum maturity period for school district bonds from 20 years to 30 years from the date of issuance.

• Allows school district bonds to be issued as either serial or term bonds and permits boards of trustees to adopt flexible amortization plans when annual tax levies would otherwise exceed 10% of average annual tax levy.

• Requires that no school bonds be sold at less than their aggregate par value.

• Permits electronic bidding for public bond sales in addition to sealed bids, and allows private sale of bonds after notice.

• Repeals six sections of Idaho Code (33-1108, 33-1116, 33-1122, 33-1123, 33-1124, 33-1125) and amends refunding bond provisions to reference chapter 5, title 57, Idaho Code, and clarifies that advance refunding bonds must comply with the Idaho school bond guaranty act.