2005 Idaho Code - 31-4314 — LIMITATION OF POWER TO INCUR DEBT

                                  TITLE  31
                           COUNTIES AND COUNTY LAW
                                  CHAPTER 43
                             RECREATION DISTRICTS
    31-4314.  LIMITATION OF POWER TO INCUR DEBT. Neither the board nor any
officer shall have power to incur any debt or liability on behalf of the
district, whether by issuance of bonds or otherwise, in excess of the express
provisions of this act and any such debt or liability so incurred shall be
void; except that for the purpose of organization or for any of the purposes
of this act, the board may before making the tax levy in the fiscal year of
organization, incur debts not exceeding in the total a sum equal to one-tenth
of one percent (0.1%) of market value for assessment purposes of the taxable
property within the district or five-tenths of one percent (0.5%) of market
value for assessment purposes of the taxable property within a district that
is created pursuant to section 31-4304A, Idaho Code. The provisions of section
63-807, Idaho Code, shall not apply to any recreation district if that
district is created prior to June 1.