Idaho State Statutes - Idaho Attorney Directory

Any city issuing bonds under
sections 50-1027 through 50-1042, Idaho Code, for the acquisition,
construction, reconstruction, improvement, betterment or extension of any
works or to rehabilitate existing electrical generating facilities, shall have
the right to appropriate, apply or expend the revenue of such works or
rehabilitated existing electrical generating facilities for the following
purposes: (a) to pay when due all bonds and interest thereon, for the payment
of which such revenue is or shall have been pledged, charged or otherwise
encumbered, including reserves therefor; (b) to provide for all expenses of
operation, maintenance, replacement and depreciation of such works or
rehabilitated existing electrical generating facilities, including reserves
therefor; (c) to pay and discharge notes, bonds or other obligations and
interest thereon, not issued under this act for the payment of which the
revenue of such works or rehabilitated existing electrical generating
facilities may have been pledged, charged or encumbered; (d) to pay and
discharge notes, bonds or other obligations and interest thereon which do not
constitute a lien, charge or encumbrance on the revenue of such works or
rehabilitated existing electrical generating facilities, which may have been
issued for the purpose of financing the acquisition, construction,
reconstruction, improvement, betterment or extension of such works or to
rehabilitate existing electrical generating facilities; and (e) provide a
reserve for improvements to such works or rehabilitated existing electrical
generating facilities. Unless and until full and adequate provision has been
made for the foregoing purposes, no city shall have the right to transfer the
revenue of such works or rehabilitated existing electrical generating
facilities to its general fund.

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