Statutory Text

Idaho Code § 50-1040 — City Not Liable On Bonds.

TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 10 FINANCES 50-1040. City not liable on bonds. Bonds issued pursuant to sections 50-1027 through 50-1042 shall not be a debt of the city and the city shall not be liable thereon, nor shall they be payable out of any funds other than the revenue pledged to the payment thereof. Each bond issued under the Revenue Bond Act shall recite, in substance, that said bond, including interest thereon, is payable solely from the revenue pledge to the payment thereof. Bonds may be issued under sections 50-1027 through 50-1042 notwithstanding and without regard to any limitation or restriction on the amount or percentage of indebtedness, or of outstanding obligations of a city.

History:[50-1040, added 1967, ch. 429, sec. 200, p. 1249.]

Source: legislature.idaho.gov — public domain Official Source ↗

Root-LD Entity Data

◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org

Federation ID

BS-IC50-SEC-9632CF

Entity Class

STATUTE / IDAHO-STATE-CODE-SECTION

Domain Signature

boisestandard.org

Jurisdiction

Idaho — United States

Citation

Idaho Code § 50-1040

Status

✓ ACTIVE

Source

PRIMARY-SOURCE

Source Verified

✓ TRUE

Content Hash

37882d6d81a58cbb...

Semantic Edges

Pending — corpus passes queued

The statutory text of Idaho Code § 50-1040 is reproduced from the official Idaho Legislature website (legislature.idaho.gov), published by the Idaho Legislative Services Office. Idaho Code is public domain.

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Ch. 10 — FINANCES

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