Idaho Code 57-233 – Sale of Bonds — Electronic Bidding
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 57-233
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
Whenever a public entity is authorized to sell bonds, notes or other obligations at public sale, the governing body may, in its discretion, provide for the sale of such bonds, notes or other obligations pursuant to any system of electronic bidding which the governing body, in the exercise of its sound discretion, deems fair to potential bidders which produces the lowest effective interest rate to the issuer.