Idaho Code 67-8920 – Exemption of Real Property of Authority From Levy and Sale by Execution
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 67-8920
- Authority: means the Idaho energy resources authority created pursuant to section 67-8904, Idaho Code. See Idaho Code 67-8903
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes both real and personal property. See Idaho Code 73-114
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Revenues: means all receipts, purchase payments, loan repayments, lease payments, rents, fees and charges, and all other income or receipts derived by the authority from a participating utility. See Idaho Code 67-8903
All real property of the authority shall be exempt from levy and sale by virtue of an execution, and no execution or other judicial process shall issue against the same nor shall any judgment against the authority be a charge or lien upon its real property; provided however, that the provisions of this section shall not apply to or limit the right of bondholders to foreclose or otherwise enforce any mortgage or other security of the authority or the right of obligees and bondholders to pursue any remedies for the enforcement of any pledge or lien given by the authority on its rents, fees or revenues or the right of obligees or bondholders to pursue any remedies conferred upon the same pursuant to this chapter.