Idaho § 57-211 BONDS — AMORTIZED MATURITIES

Idaho Statutes

§ 57-211 — BONDS — AMORTIZED MATURITIES

Idaho § 57-211

Title 57PUBLIC FUNDS IN GENERAL

Ch. 2MUNICIPAL BOND LAW

This text of Idaho § 57-211 (BONDS — AMORTIZED MATURITIES) 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 § 57-211 (2026).

Text

The bonds of any one (1) issue shall mature and be payable upon an annual amortization plan, the first annual amortized principal payment shall mature and be payable within two (2) years from and after the date of the bonds, and the various annual maturities shall, as nearly as practicable, be in such principal amounts as will, together with the accruing interest on all outstanding bonds of such issue, be met and paid by an equal annual tax levy for the payment of the principal of said bonds and interest thereon during the term for which such bonds shall be issued: provided, however:

(a)That anything in this section to the contrary notwithstanding, whenever the governing body of the issuing corporation shall in its sole discretion determine it to be to the advantage of such corporation, i

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

The bonds of any one (1) issue shall mature and be payable upon an annual amortization plan, the first annual amortized principal payment shall mature and be payable within two (2) years from and after the date of the bonds, and the various annual maturities shall, as nearly as practicable, be in such principal amounts as will, together with the accruing interest on all outstanding bonds of such issue, be met and paid by an equal annual tax levy for the payment of the principal of said bonds and interest thereon during the term for which such bonds shall be issued: provided, however:
(a) That anything in this section to the contrary notwithstanding, whenever the governing body of the issuing corporation shall in its sole discretion determine it to be to the advantage of such corporation, it may issue and sell such bonds with such annual maturities as it shall determine either prior to or after the fixing of the interest rates such bonds will bear, and in every such instance it shall be permissible for the governing body to issue such bonds in the annual maturities so determined upon and bearing the rate or rates of interest ascertained upon the sale of such bonds.
(b) That nothing herein contained shall be construed as prohibiting any serial maturity from being in the sum of $5,000 or an even multiple thereof.

Legislative History

[(57-211) 1927, ch. 262, sec. 4, subd. (h), p. 546; I.C.A., sec. 55-211; am. 1933, ch. 38, sec. 1, p. 50; am. 1935, ch. 95, sec. 1, p. 180; am. 1963, ch. 183, sec. 4, p. 542.]