Bonds issued pursuant to sections 50-1027 through 50-1042[, Idaho Code,] 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 [pledged] to the payment thereof. Bonds may be issued under sections 50-1027 through 50-1042[, Idaho Code,] notwithstanding and without regard to any limitation or restriction on the amount or percentage of indebtedness, or of outstanding obligations of a city.
Idaho Code § 50-1040
City not liable on bonds
1967, ch. 429, § 200, p. 1249.
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.