Idaho § 50-1041 TAX LEVY TO PAY BONDS PROHIBITED

Idaho Statutes

§ 50-1041 — TAX LEVY TO PAY BONDS PROHIBITED

Idaho·Title 50 MUNICIPAL CORPORATIONS·Ch. 10 FINANCES

The provisions of 57-203, Idaho Code, relating to the levy of taxes for the payment of bonds, shall not be applicable to bonds issued by a city under the Revenue Bond Act, and the principal or interest thereof shall not be charged upon the city issuing the same. The holder or holders of any bonds issued under the Revenue Bond Act shall not have the right to compel any exercise of the taxing power of the city to pay said bonds or the interest thereon.

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The provisions of 57-203, Idaho Code, relating to the levy of taxes for the payment of bonds, shall not be applicable to bonds issued by a city under the Revenue Bond Act, and the principal or interest thereof shall not be charged upon the city issuing the same. The holder or holders of any bonds issued under the Revenue Bond Act shall not have the right to compel any exercise of the taxing power of the city to pay said bonds or the interest thereon.

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