2005 Idaho Code - 40-825 — LEVIES TO PAY CLAIMS AGAINST DISSOLVED OR CONSOLIDATED SYSTEMS AND DISTRICTS -- CERTIFICATION AND ASSESSMENT -- ISSUANCE OF NEW HIGHWAY USERS\' FUND BONDS

                                  TITLE  40
                             HIGHWAYS AND BRIDGES
                                  CHAPTER 8
                                    TAXES
    40-825.  LEVIES TO PAY CLAIMS AGAINST DISSOLVED OR CONSOLIDATED SYSTEMS
AND DISTRICTS -- CERTIFICATION AND ASSESSMENT -- ISSUANCE OF NEW HIGHWAY
USERS' FUND BONDS. After dissolution of a county or city highway system or a
highway district, or upon a consolidation of districts, and at the next
regular annual meeting of the succeeding operational unit when levies for
other county purposes are fixed, the succeeding highway system board shall in
addition to apportioning moneys arising out of the highway users' fund and the
moneys from all other sources as the system or district would be entitled to
receive had it not been dissolved and all other tax levies, including general
highway and bridge levies, levy a special tax upon all of the property
situated within the former boundaries of any former system or district,
sufficient to raise funds for the payment of all remaining unpaid current
claims against or debts of the former system or district, together with funds
for payment of current and accruing terms and conditions of outstanding bonds
and warrants of the former system or district. Each following year they shall
continue that levy, or make  other or additional levies as may be required to
fully pay and retire the indebtedness of the former county or city highway
system or highway district. The taxes shall be collected in the same manner as
other county taxes and shall be turned over to the treasurer of the succeeding
operational unit, who shall redeem, or post for redemption, all warrants and
bonds as they mature and in order of their line, and for which funds are
available from the former system or district for the payment of them. The
succeeding operational unit, whenever it may deem it necessary or expedient,
has the power to issue highway users' fund bonds for and on behalf of the
former system or district and of the same force and effect as if validly
issued by the board of highway commissioners or councilmen of the former
system or district during its existence. All bonds shall be in form and
issued, registered, sold or exchanged and redeemed in accordance with the
provisions of chapter 2, title 57, Idaho Code, and of general law relating to
bond issues.