AMORTIZATION OF BONDS

SECTION 42-C. Whenever bonds are issued under any provisions of the charter of Boise City they may at the option of the common council of said city, be made to mature and be payable upon an annual amortization plan. The first annual amortized principal payment shall mature and be payable at the expiration of two years from and after the date of issue and the various annual maturities shall as nearly as practical be in such principal amounts as will, together with the accruing interest on all outstanding bonds of such issue, be met and paid by an equal annual tax levy for the payment of the principal of said bonds and interest thereon during the term for which such bonds shall be issued. Provided that it shall not be necessary to prescribe such amortized annual maturities in any bond issue until the interest rate to be borne by such bonds shall have been ascertained upon and after the sale thereof.

   Ch. 102 S.L. 1931. Ch. 3 S.L. 1945.