Idaho State Statutes - Idaho Attorney Directory

BONDS AND OTHER DEBT NOT OBLIGATIONS OF STATE -- PAYABLE ONLY
FROM PLEDGED REVENUE. All bonds issued and other debt incurred pursuant to
this act shall be exclusively obligations of the institution issuing such
bonds or incurring such other debt payable only in accordance with the terms
thereof and shall not be obligations general, special or otherwise of the
state of Idaho. Such bonds or other debt incurred shall not constitute a debt,
legal or moral or otherwise of the state of Idaho, shall so recite on their
face or on the first page of any evidence of indebtedness, and shall not be
enforceable against the state, nor shall payment thereof be enforceable out of
any funds of the institution issuing said bonds or incurring such other debt
other than the income and revenues, if any, pledged and assigned to, or in
trust for the benefit of, the holder or holders of such bonds or other
evidence of indebtedness.

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