Idaho Code
Chapter 28 - COUNTY IRRIGATION, DRAINAGE, AND RECLAMATION PROJECTS
Section 42-2815 - INTEREST — PREMIUM ON BONDS.

42-2815. INTEREST — PREMIUM ON BONDS. The amount that each tract of land, public or corporate road or railroad shall be liable for on account of the establishment of any irrigation or drainage project under the provisions of this chapter shall bear interest from the date of the filing of the auditor’s statement in the county recorder’s office at a rate of interest not exceeding six per cent (6%) per annum until paid, such rate of interest to be fixed and determined by the board of county commissioners at the time of establishing such project: provided, that when bonds are issued by the county for the construction or establishment of such project, the same rate of interest shall be charged as said bonds so issued bear: provided, further, that in any case and at any time after the establishment of any project and in the event there is not sufficient money in the sinking fund for the purpose the board of county commissioners may upon such notice as shall be ordered and upon a showing of the necessity to provide funds to meet payments due or maturing on the bonds issued under this chapter, either change or modify any order previously made fixing and determining a rate of interest or fix the rate of interest in the case the same has not been previously fixed or change the existing rate of interest, the same to remain in effect until such time as the amount in the sinking fund is sufficient for such purpose. All interest shall constitute an additional lien on said land or lots until fully paid, which said interest when about to be paid shall be computed by the county auditor. If bonds are sold at a premium, such premium shall become a part of the sinking fund herein provided.

History:
[(42-2815) 1921, ch. 222, sec. 15, p. 492; I.C.A., sec. 41-2415.]

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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.