Idaho Code
Chapter 28 - COUNTY IRRIGATION, DRAINAGE, AND RECLAMATION PROJECTS
Section 42-2812 - SINKING FUND.

42-2812. SINKING FUND. The board of county commissioners of any county in which any irrigation or drainage project is established under this chapter are authorized to provide by resolution for a sinking fund for the payment of the bonds issued under the provisions of this chapter and for such purpose and in order to provide a fund to meet all payments of the principal and interest on such bonds as the same come due and to cover deficiencies or delays in collections shall provide an assessment each year, ten per cent (10%) in excess of the amount of the principal and interest coming due the following year on the bonds issued by such county under this chapter until such time as a reserve fund shall have been accumulated in the county treasury from such excess assessments to an amount of at least ten per cent (10%) of the bonds issued by such county for such irrigation or drainage project.

History:
[(42-2812) 1921, ch. 222, sec. 12, p. 492; I.C.A., sec. 41-2412.]

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Structure Idaho Code

Idaho Code

Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION

Chapter 28 - COUNTY IRRIGATION, DRAINAGE, AND RECLAMATION PROJECTS

Section 42-2801 - BOARD OF COUNTY COMMISSIONERS — AUTHORITY IN IRRIGATION AND DRAINAGE PROCEEDINGS.

Section 42-2802 - ENLARGEMENT OF EXISTING WORKS — PURCHASE AND COMPLETION OF INCOMPLETE WORKS — PURCHASE AND COMPLETION OF PAYMENTS ON PARTIALLY PAID STORAGE RIGHTS.

Section 42-2803 - ELECTION PROCEDURE SAME AS IN OTHER COUNTY BOND ELECTIONS.

Section 42-2804 - PETITION — DEPOSIT OF PETITIONERS.

Section 42-2805 - DIRECTOR OF THE DEPARTMENT OF WATER RESOURCES — EXAMINATION AND REPORT ON PRACTICABILITY OF PLAN — CALLING OF ELECTION — PROCEDURE UPON APPROVAL OF BOND ISSUE — APPEAL.

Section 42-2806 - CONTRACTS — PROCEDURE FOR MAKING SIMILAR TO THAT IN IRRIGATION DISTRICTS — EXCEPTION — APPROVAL OF DIRECTOR.