If requested by the petitioners for a local improvement district, and in addition to or in lieu of a reserve or guarantee requirement, the council or other governing body of a governmental entity may impose such commercially reasonable credit assurances as it may deem necessary as a condition of approving a local improvement district. If commercially reasonable, such assurances may include guarantees, letters of credit or bonds in amounts up to the total amount of indebtedness.
Idaho Code § 50-1772
Commercially reasonable credit assurances
Known as the Local Improvement District Code
The act spans §§ 50-1701 to 50-1772 (62 sections).
I.C., § 50-1772, as added by 1999, ch. 291, § 9, p. 722.
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.