63-3105. TAX LEVY TO COVER DEFICIENCY IN BOND OR NOTE PAYMENTS. In the event that the taxes collected for any fiscal year prior to date on which final installment of such taxes becomes delinquent, or other anticipated funds or revenues, shall not be sufficient to pay the revenue anticipation bonds or notes issued in anticipation of the collection of taxes or other funds or revenues of such fiscal year, the taxing district shall, in providing for the levy of taxes for the succeeding fiscal year, include in such tax levy for the succeeding fiscal year the amount necessary to cover such deficiency in the collection of such taxes or other funds or revenues, such levy in the succeeding year to be in an amount which, together with the amount of taxes then in such "Revenue Anticipation Bond or Note Redemption Fund" shall be sufficient to provide for the payment of principal of and interest on the revenue anticipation bonds or notes issued in anticipation of such taxes, funds, or other revenues and payable out of such fund.
History:
[63-3105, added 1933, ch. 160, sec. 5, p. 266; am. 1988, ch. 116, sec. 4, p. 214.]
Structure Idaho Code
Title 63 - REVENUE AND TAXATION
Chapter 31 - ANTICIPATION OF REVENUE BY TAXING DISTRICTS
Section 63-3101 - TAXING DISTRICT DEFINED.
Section 63-3102 - AUTHORITY TO BORROW MONEY.
Section 63-3103 - SALE OF REVENUE ANTICIPATION BONDS OR NOTES.
Section 63-3104 - CREATION OF FUND TO PAY BONDS OR NOTES AT MATURITY — PAYMENT OF BONDS OR NOTES.
Section 63-3105 - TAX LEVY TO COVER DEFICIENCY IN BOND OR NOTE PAYMENTS.