34-439 DISCLOSURES IN ELECTIONS TO AUTHORIZE BONDED INDEBTEDNESS. - Idaho Statutes

TITLE 34

ELECTIONS

CHAPTER 4

VOTERS -- PRIVILEGES, QUALIFICATIONS AND REGISTRATION

34-439. Disclosures in elections to authorize bonded indebtedness. Notwithstanding any other provision of law, any taxing district which proposes to submit any question to the electors of the district that would authorize any bonded indebtedness shall provide a brief official statement setting forth in simple, understandable language, information on the proposal substantially as follows:

(1) The total existing indebtedness, including interest accrued, of the taxing district;

(2) The interest rate which is anticipated on the proposed bond issue, the range of anticipated rates, and the maximum rate if a maximum is specified in the submission of the question; and

(3) The total amount to be repaid over the life of the bond issue based on the anticipated interest rate, if the bond election is approved.

The verified, official district’s statement shall be made a part of the official ballot and be included in the official notice of the election.