US Laws, Codes, Statutes & Cases

                                  TITLE  70
                       WATERCOURSES AND PORT DISTRICTS
                                  CHAPTER 17
                 PORT DISTRICTS -- BUDGET AND FISCAL MATTERS
    70-1716.  GENERAL OBLIGATION BONDS -- ELECTIONS. Each port district may,
with the assent of two-thirds (2/3) of the qualified voters of the district
voting thereon at a port election called for that purpose, and held subject to
the provisions of section 34-106, Idaho Code, contract indebtedness or borrow
money for district purposes and may issue general obligation bonds therefor,
provided that total indebtedness of the district at any such time, excluding
that indebtedness evidenced by revenue bonds, shall not exceed one percent
(1%) of the market value for assessment purposes of the taxable property in
the district to be ascertained by the last assessment for state and county
purposes previous to incurring the indebtedness.
    The district may issue general district bonds evidencing any such
indebtedness, payable at any time not exceeding thirty (30) years from the
date of the bonds.