All or any part of such refunding bonds may be exchanged, dollar for dollar, for the bonds to be refunded, or they may be sold, at not less than their par value, as directed by the board of commissioners and the proceeds thereof shall be applied only to the purposes for which said refunding bonds are issued. The authority vested in the board of commissioners by the judgment and decree as in this chapter provided shall be and remain effective until all of the bonded indebtedness so authorized to be refunded has been paid, redeemed or refunded.
Idaho Code § 42-3007
Exchange of bonds — Application of proceeds of sale — Effect of decree
1925, ch. 21, § 7, p. 29; I.C.A., § 41-2607.
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.