2005 Idaho Code - 40-816 — INDEBTEDNESS IN EXCESS OF EXPRESS PROVISIONS PROHIBITED -- EXCEPTIONS

                                  TITLE  40
                             HIGHWAYS AND BRIDGES
                                  CHAPTER 8
                                    TAXES
    40-816.  INDEBTEDNESS IN EXCESS OF EXPRESS PROVISIONS PROHIBITED --
EXCEPTIONS. A highway district board, or other officers of the highway
district, shall have no power to incur any debt or liability whatever, either
by issuing bonds or otherwise, in excess of the express provisions of this
title. Any debt or liability incurred in excess of the express provisions
shall be and remain absolutely void. For the purpose of organization or for
any of the purposes of this title, a highway district board may, before making
the tax levy in any year, incur an indebtedness not exceeding in the aggregate
a sum equal to one-tenth per cent (.1%) of the market value for assessment
purposes of all the property in the highway district subject to taxation.
After making the levy, they may incur an indebtedness within the limit, on the
entire indebtedness, of the amount of the levy. At no time shall the total
indebtedness exceed that amount and may cause warrants of the highway district
to be issued, bearing interest to be fixed by the highway district. The power
granted in this section is in addition to and independent of the power granted
to issue bonds.