Contracts For Housing Facilities At State Institutions

TITLE 33 EDUCATION CHAPTER 37 MISCELLANEOUS PROVISIONS RELATING TO STATE INSTITUTIONS OF LEARNING 33-3701. Contracts for housing facilities at state institutions. The state board of education and board of regents of the University of Idaho, acting as the board of regents of the University of Idaho, or as the board of trustees of the Lewis-Clark State College, or as the board of trustees of the Boise State University, or as the board of trustees of the Idaho State University are hereby authorized to enter into contracts with persons, firms and corporations, for the purpose of providing dormitory and housing facilities for the students of said institutions; for the purposes the board may contract for the leasing and purchase of lands and buildings and for the purchase and installation of fixtures, furniture, furnishings and equipment in such buildings; the board may contract to pay as rent or otherwise a sum sufficient to pay, on the amortization plan, the principal and interest thereon, of the purchase-price of lands and buildings, such contracts to run not over twenty (20) years; the rate of interest on the principal on any purchase shall not exceed seven percent (7%) per annum payable semiannually or annually.