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Idaho Code § 31-4912

Security for bonds or other indebtedness

I.C., § 31-4912, as added by 1990, ch. 390, § 1, p. 1085.

In connection with the issuance of bonds or the incurring of other indebtedness, and to secure the payment of the same, the district board shall have the power:

(1) To pledge all or any part of its fees and revenues from any source;

(2) To covenant against pledging all or any part of its fees and revenues, or against permitting any lien on such fees, revenues, or property;

(3) To covenant as to the bonds or other indebtedness to be issued and as to the use and disposition of the proceeds thereof;

(4) To establish and fund reserves for the payment of such bonds or indebtedness;

(5) To enter into credit enhancement arrangements including, but not limited to, letters of credit, reimbursement and remarketing agreements, and bond insurance policies;

(6) To make such covenants as will tend to make such bonds or indebtedness more marketable, notwithstanding that such covenants may not be enumerated herein.

Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.