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Bingham County dissolves its Industrial Development Corporation under state code
Summary
The Board adopted Ordinance 2024-07 dissolving the Industrial Development Corporation of Bingham County and ordered any remaining funds transferred to the establishing municipality under Idaho Code §50-2703; commissioners said the corporation had been inactive since 2013.
At the Oct. 15 session the Board adopted Ordinance 2024-07 formally dissolving the Industrial Development Corporation of Bingham County, created in 1984. County staff said the public corporation had not met since 2013 and Idaho Code requires transfer or payment of any remaining funds to the creating municipality when a public corporation is dissolved.
The ordinance text states: "Be it ordained by the Bingham County Board of Commissioners, as of October 15, 2024, the Industrial Development Corporation of Bingham County, Idaho, is hereby dissolved." The Board signed and recorded the ordinance and directed staff to transfer any residual funds as required under Idaho Code §50-2703.
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