2005 Idaho Code - 67-4915 — LEVIES TO COVER DEFAULTS AND DEFICIENCIES

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 49
                             AUDITORIUM DISTRICTS
    67-4915.  LEVIES TO COVER DEFAULTS AND DEFICIENCIES. The board of a
district authorized to levy and collect ad valorem taxes in certifying annual
levies as herein provided, shall take into account the maturing indebtedness
for the ensuing year as provided in its contracts, maturing bonds and interest
on bonds, and deficiencies and defaults of prior years, and shall make ample
provision for the payment thereof. In case the moneys produced from such
levies, together with other revenues of the district are not sufficient
punctually to pay the annual instalments on its contracts or bonds, and
interest thereon, and to pay defaults and deficiencies, then the board shall
make such additional levies of taxes as may be necessary for such purposes,
and notwithstanding any limitations, such taxes shall be made and continue to
be levied until the indebtedness of the district shall be fully paid.