Idaho § 42-5114 - Power to incur indebtedness - Assessments to secure repayment
Full text of Idaho Idaho Statutes § 42-5114 — Power to incur indebtedness - Assessments to secure repayment, with citation guidance and answers to common questions.
§ 42-5114. Power to incur indebtedness - Assessments to secure repayment
In order to secure funds for the repair or abandonment of wells in the district, the board of directors may, by resolution duly adopted and entered upon the minutes, incur indebtedness by contract with a money-lending institution; provided, however, that the term of such indebtedness shall not exceed ten (10) years. To secure the repayment of any indebtedness so incurred, the board shall levy assessments over the term of the indebtedness in amounts sufficient to repay the interest and principal as it falls due. Such assessments shall be levied in the manner and shall be subject to the limitations set forth in section 42-5113 , Idaho Code, and may only be levied if the indebtedness has been approved at the election contained in sections 42-5115 through 42-5119 , Idaho Code.
[42-5114, added 1987, ch. 349, sec. 1, p. 771.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 42-5114
What does Idaho Statutes § 42-5114 cover?
Section 42-5114 ("Power to incur indebtedness - Assessments to secure repayment") 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 § 42-5114?
A common citation format is "Idaho Statutes § 42-5114" (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 § 42-5114 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.