ID S1263

Approves bonding authority for the Idaho Housing and Finance Association to issue highway transportation (GARVEE) bonds in a principal amount up to $100,000,000.

Bonds are expected to be paid from continuing appropriations of federal funds from the State Highway Account as provided in Idaho Code Section 40-707.

Bond proceeds shall be used to finance right-of-way acquisition on projects described in Idaho Code Section 40-315, with allocation determined by the Idaho Transportation Board.

Directs the Idaho Transportation Board and Idaho Transportation Department to neither increase the scope nor extend or enlarge the transportation projects financed by the bonds.

Requires that any GARVEE program management services agreements be fully transparent to the public and Legislature, and bonds must be issued at prevailing market rates with favorable bonding transaction costs.