42-4114. DISTRICT NOT LIABLE ON BONDS. Bonds issued pursuant to the water and sewer district revenue bond act shall not be a debt of the district and the district 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 water and sewer district revenue bond act shall recite, in substance, that said bond, including interest thereon, is payable solely from the revenue pledged to the payment thereof. Bonds may be issued under the water and sewer district revenue bond act notwithstanding and without regard to any limitation or restriction on the amount or percentage of indebtedness, or of outstanding obligations of a district.
History:
[42-4114, added 1976, ch. 62, sec. 1, p. 219.]
Structure Idaho Code
Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION
Chapter 41 - WATER AND SEWER DISTRICT REVENUE BONDS
Section 42-4101 - SHORT TITLE.
Section 42-4102 - GRANT OF AUTHORITY.
Section 42-4103 - DEFINITIONS.
Section 42-4105 - SUPERVISION OF WORKS.
Section 42-4106 - WORKS TO BE SELF-SUPPORTING.
Section 42-4107 - USE OF WORKS — REVENUE.
Section 42-4108 - PRELIMINARY EXPENSES.
Section 42-4109 - RESOLUTION PRIOR TO CONSTRUCTION — ELECTION.
Section 42-4110 - BONDS — FORM — CONDITIONS.
Section 42-4111 - BONDS — ISSUANCE — TERMS — CONDITIONS.
Section 42-4112 - VALIDITY OF BONDS.
Section 42-4113 - LIEN OF BONDS.