2005 Idaho Code - 31-1901 — COMMISSIONERS MAY ISSUE FUNDING AND REFUNDING BONDS

                                  TITLE  31
                           COUNTIES AND COUNTY LAW
                                  CHAPTER 19
                              COUNTY BOND ISSUES
    31-1901.  COMMISSIONERS MAY ISSUE FUNDING AND REFUNDING BONDS. The board
of county commissioners of any county in this state may issue negotiable
coupon bonds of their county for the purpose of paying, redeeming, funding or
refunding the outstanding indebtedness of the county, whether the indebtedness
exists as a warrant indebtedness or bonded indebtedness. All such bonds shall
be in the form and shall be issued, sold or exchanged and redeemed in
accordance with the provisions of chapter 2 of title 57, known as the
"Municipal Bond Law" of the state of Idaho, except where different provision
is made herein. Provided, that the authority to fund warrant indebtedness
shall extend only to the funding of warrant indebtedness existing as of the
second Monday in January, 1933, and providing further that all taxes and other
revenues which but for the funding of warrants would have been lawfully
applicable to the redemption of the warrants so funded shall, as and when
collected, be apportioned to and placed in the sinking fund for the payment of
the interest and retirement of the principal of such bonds. Bonds issued for
the purpose of funding warrants shall bear interest payable semiannually as
the board of county commissioners may determine.