Idaho Code 67-6419 – Limitation of Liability On Authority Obligations
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 67-6419
- Authority: means the Idaho state building authority created and established pursuant to section 67-6403, Idaho Code. See Idaho Code 67-6402
- Municipality: means any city, municipal corporation, or other political subdivision of this state. See Idaho Code 67-6402
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: means the state of Idaho. See Idaho Code 67-6402
The notes, bonds or other obligations of the authority shall not be or become an indebtedness or obligation of the state of Idaho, or of any department, board, commission, agency, political subdivision, body corporate and politic, or instrumentality of or county within the state nor shall such notes, bonds or obligations of the authority constitute the giving or loaning of the credit of the state of Idaho, or of any department, board, commission, agency, political subdivision, body corporate and politic or instrumentality of or municipality or county within the state, nor shall they be payable out of any funds other than those of the authority; and such notes and bonds shall contain on the face thereof a statement to such effect.