33-3810. BONDS AND OTHER DEBT NOT OBLIGATIONS OF STATE — PAYABLE ONLY FROM PLEDGED REVENUE. All bonds issued and other debt incurred pursuant to this act shall be exclusively obligations of the institution issuing such bonds or incurring such other debt payable only in accordance with the terms thereof and shall not be obligations general, special or otherwise of the state of Idaho. Such bonds or other debt incurred shall not constitute a debt, legal or moral or otherwise of the state of Idaho, shall so recite on their face or on the first page of any evidence of indebtedness, and shall not be enforceable against the state, nor shall payment thereof be enforceable out of any funds of the institution issuing said bonds or incurring such other debt other than the income and revenues, if any, pledged and assigned to, or in trust for the benefit of, the holder or holders of such bonds or other evidence of indebtedness.
History:
[33-3810, added 1935 (1st E.S.), ch. 55, sec. 10, p. 145; am. 1975, ch. 118, sec. 2, p. 246.]
Structure Idaho Code
Chapter 38 - STATE INSTITUTIONS OF HIGHER EDUCATION BOND ACT
Section 33-3801 - SHORT TITLE.
Section 33-3802 - DEFINITIONS.
Section 33-3803 - STATE EDUCATIONAL INSTITUTIONS AS BODIES POLITIC AND CORPORATE — POWERS OF BOARDS.
Section 33-3804 - POWERS AND DUTIES OF STATE INSTITUTIONS.
Section 33-3805 - AUTHORIZATION, ISSUANCE, MATURITY, INTEREST AND SALE OF BONDS.
Section 33-3806 - PROVISIONS FOR PAYMENT OF BONDS.
Section 33-3807 - DEPOSIT OF PROCEEDS OF BONDS.
Section 33-3808 - VALIDITY OF BONDS.
Section 33-3809 - OTHER FUNDS NOT AFFECTED.
Section 33-3810 - BONDS AND OTHER DEBT NOT OBLIGATIONS OF STATE — PAYABLE ONLY FROM PLEDGED REVENUE.