Idaho § 50-1764 SUBROGATION OF MUNICIPALITY TO RIGHTS OF PAYEE — SURPLUS FUNDS — PAYMENT INTO FUND — PREFERENCES

Idaho Statutes

§ 50-1764 — SUBROGATION OF MUNICIPALITY TO RIGHTS OF PAYEE — SURPLUS FUNDS — PAYMENT INTO FUND — PREFERENCES

Idaho § 50-1764

Title 50MUNICIPAL CORPORATIONS

Ch. 17LOCAL IMPROVEMENT DISTRICT CODE — GUARANTEE FUND

This text of Idaho § 50-1764 (SUBROGATION OF MUNICIPALITY TO RIGHTS OF PAYEE — SURPLUS FUNDS — PAYMENT INTO FUND — PREFERENCES) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 50-1764 (2026).

Text

Whenever there shall be paid out of the "Local Improvement Guarantee Fund," any sum on account of principal or interest of a local improvement fund or warrant, the municipality as trustee for the fund, shall be subrogated to all the rights of the holder of the bond or interest coupon or warrant so paid, and the policies thereof, or the assessment underlying the same, shall become part of the guarantee fund. There shall be paid into the guarantee fund any surplus remaining in any local improvement fund after the payment of all outstanding bonds or warrants, payable out of such local improvement fund. Bonds or warrants guaranteed by such fund shall have no preference except in the order of presentation for payment.

Free access — add to your briefcase to read the full text and ask questions with AI

Whenever there shall be paid out of the "Local Improvement Guarantee Fund," any sum on account of principal or interest of a local improvement fund or warrant, the municipality as trustee for the fund, shall be subrogated to all the rights of the holder of the bond or interest coupon or warrant so paid, and the policies thereof, or the assessment underlying the same, shall become part of the guarantee fund. There shall be paid into the guarantee fund any surplus remaining in any local improvement fund after the payment of all outstanding bonds or warrants, payable out of such local improvement fund. Bonds or warrants guaranteed by such fund shall have no preference except in the order of presentation for payment.