Idaho § 42-1743 - Covenants
Full text of Idaho Idaho Statutes § 42-1743 — Covenants, with citation guidance and answers to common questions.
§ 42-1743. Covenants
The board may provide such covenants as it may deem necessary to secure and guarantee the payment of the principal of and interest on such bonds, including but not limited to covenants to create reserve accounts and to authorize the deposit of certain moneys therein for the purpose of securing and guaranteeing the payment of such principal and interest, to appoint a state or national bank or trust company as trustee for the bondholders to hold, invest and disburse moneys set aside and pledged to pay and guarantee the payment of such bonds and/or as a trustee for safeguarding the disbursing of the proceeds of the sale of such bonds, to fix such powers and duties of such trustee or trustees as may be found necessary to carry out the purpose of this act, and to make any and all other covenants not inconsistent with the provisions of this act which in the judgment of the board will increase the marketability of such bonds. The board may also provide that revenue bonds payable out of the same source or sources may be later issued on a parity with any revenue bonds being issued and sold. The provisions of this act and any resolution or resolutions providing for the authorization, issuance and sale of such bonds shall constitute a contract with the holders of such bonds and the provisions thereof shall be enforceable by any owner or holder of such bonds by any appropriate suit, action or proceeding in any court of competent jurisdiction.
[42-1743, added 1965, ch. 319, sec. 5, p. 898.]
Frequently Asked Questions About Idaho § 42-1743
What does Idaho Statutes § 42-1743 cover?
Section 42-1743 ("Covenants") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 42-1743?
A common citation format is "Idaho Statutes § 42-1743" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 42-1743 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.