Section 31-4326 - INDEBTEDNESS INCURRED UPON FAVORABLE VOTE — RESUBMISSION OF PROPOSITION NOT RECEIVED FAVORABLY.

ID Code § 31-4326 (2019) (N/A)

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31-4326. INDEBTEDNESS INCURRED UPON FAVORABLE VOTE — RESUBMISSION OF PROPOSITION NOT RECEIVED FAVORABLY. In the event that it shall appear from said returns that a majority, in the amount which is now, or may hereafter be, set by the constitution of the state of Idaho for approval of indebtedness, of the qualified electors of the district voting at such election shall have voted in favor of such proposition or any proposition submitted hereunder at such election, the district shall thereupon be authorized to incur such indebtedness or obligations, enter into such contract or issue and sell bonds of the district, as the case may be, all for the purpose or purposes, and object or objects provided for in the propositions submitted hereunder and in the resolution therefor and in the amount so provided at a rate of interest not exceeding the rate of interest recited in such resolution. The submission of the proposition of incurring such obligation or bonded or other indebtedness at such an election shall not prevent or prohibit submission of the same, or other propositions, at subsequent election or elections called for such purpose at any time.

History:

[I.C., sec. 31-4326, as added by 1971, ch. 71, sec. 5, p. 161.]

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Section 31-4325 - CONDUCT OF ELECTION FOR PROPOSED INDEBTEDNESS.

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Section 31-4326A - SECURITY — TAX LEVIES AND SINKING FUND.