2005 Idaho Code - 67-8917 — PAYMENT OF BONDS -- NONLIABILITY OF STATE

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 89
                     IDAHO ENERGY RESOURCES AUTHORITY ACT
    67-8917.  PAYMENT OF BONDS -- NONLIABILITY OF STATE. (1) Bonds issued by
the authority shall not constitute or become an indebtedness, or a debt or
liability of the state or any agency or subdivision of the state and neither
the state nor any of its agencies or subdivisions shall be liable on such
bonds nor shall the bonds constitute the giving, pledging or loaning of the
faith and credit of the state or any agency or subdivision of the state, but
shall be payable solely from the funds provided for their payment. The
issuance of bonds under the provisions of this chapter shall not, directly,
indirectly or contingently, obligate the state or any agency or subdivision of
the state to levy or collect any form of taxes or assessments for their
payment or to create any indebtedness payable out of taxes or assessments.
Nothing in this chapter shall be construed to authorize the authority to
create a debt of the state within the meaning of the constitution or statutes
of the state of Idaho or authorize the authority to levy or collect taxes or
assessments and all bonds issued by the authority pursuant to the provisions
of this chapter are payable and shall state that they are payable solely from
the funds pledged for their payment in accordance with the resolution
authorizing their issuance or in any trust indenture or mortgage or deed of
trust executed as security therefor and are not a debt or liability of the
state of Idaho.
    (2)  The state shall not in any event be liable for the payment of the
principal of or interest on any bonds of the authority or for the performance
of any pledge, mortgage, obligation or agreement of any kind whatsoever which
may be undertaken by the authority. No breach of any such pledge, mortgage,
obligation or agreement shall impose any pecuniary liability upon the state or
any charge upon its general credit or against its taxing power.
    (3)  All expenses incurred in carrying out the provisions of this chapter
shall be payable solely from funds provided under the authority of this
chapter and no liability or obligation shall be incurred by the authority
beyond the extent to which moneys shall have been provided under this chapter.