Idaho Code § 73-214 Pledge of Tax Or Fees

• Library: Idaho Statutes
• Edition: 2023
• Currency: Current through the 2023 Regular Legislative Session
• Year: 2023
• Citation: Idaho Code § 73-214

Whenever treasury notes are issued and sold as provided in this act, they shall constitute an irrevocable and irrepealable contract between the state of Idaho and the owner of said treasury notes that the portion of the taxes and/or fees pledged for payment thereof provided by this act shall not be reduced so long as any of the treasury notes issued under this act remain outstanding and unpaid, and that the state will cause said taxes or fees to be promptly collected, and sufficient thereof set aside and applied as in this act provided to pay the annual interest and an amount of principal that will be equal to the total amount of the notes issued and outstanding divided by the number of years over which said notes are to be paid, to provide for the payment of such treasury notes and interest according to the terms and priority of issues thereof, and that the legi...