Idaho State Statutes - Idaho Attorney Directory

The floating indebtedness of the counties so consolidated, existing and owing
at the time the consolidation becomes effective, evidenced by warrants,
orders, tax anticipation notes or bonds, and claims outstanding and unpaid,
and bond interest coupons maturing prior to said date, shall be determined by
the respective county auditors of said counties, and the amount and details
thereof certified to the board of commissioners of the county with which the
consolidation has been effected. All money in the possession or under the
control of the treasurer or other officer of the county which has been
consolidated (except school district, road district, highway district, city,
village and other municipal funds) shall be paid over to the treasurer of the
other county and by the latter applied upon said floating indebtedness of the
county which has been consolidated. If any balance remains after the payment
of such floating indebtedness, such balance shall be apportioned to the
current expense fund of the consolidated county. If such money and credits
shall be insufficient to pay such floating indebtedness, as aforesaid, such
deficiency shall be met, provided for and paid by levy made on the taxable
property in the territory of the county which has been consolidated, such levy
to be made and to be payable as other levies for the redemption and payment of
indebtedness of like character. In like manner, any amount of such floating
indebtedness of the county with which the consolidation has been effected,
over and above the moneys in the possession or under the control of the
treasurer or other officer of such county (except school district, road
district, highway district, village, city and other municipal funds) at the
time the consolidation becomes effective, shall be met, provided for and paid
by levy on the taxable property in the territory of such county as it existed
prior to consolidation.
The bonded indebtedness of the respective counties, existing at the time
the consolidation becomes effective, shall be met, provided for and paid as if
no consolidation had been effected, the taxable property in the territory of
each county, as it formerly existed, remaining liable therefor as before; and
the same rule shall apply in the case of any refunding issue or issues.

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