Idaho § 42-3217 - Sinking fund
Full text of Idaho Idaho Statutes § 42-3217 — Sinking fund, with citation guidance and answers to common questions.
§ 42-3217. Sinking fund
Whenever any indebtedness has been incurred by a district, it shall be lawful for the board to levy taxes and collect revenue for the purpose of creating a sinking fund in such amount sufficient to meet the payments of principal and interest on such indebtedness as the same matures, and to constitute a sinking fund for the payment of the principal amount of the indebtedness within thirty (30) years from the time of contracting the indebtedness evidenced thereby and in accordance with the provisions made for the payment of the principal and interest of such indebtedness and also to constitute a sinking fund for payment of the principal thereof, and theretofore provided by resolution pursuant to section 42-3222 , Idaho Code, and as required by the constitution and laws of the state of Idaho.
[42-3217, added 1947, ch. 152, sec. 17, p. 364; am. 1980, ch. 136, sec. 4, p. 298; am. 1985, ch. 38, sec. 1, p. 80; am. 1996, ch. 322, sec. 38, p. 1066.]
Frequently Asked Questions About Idaho § 42-3217
What does Idaho Statutes § 42-3217 cover?
Section 42-3217 ("Sinking fund") 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 § 42-3217?
A common citation format is "Idaho Statutes § 42-3217" (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 § 42-3217 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.