42-2954. FORM OF BONDS — INTEREST — MATURITIES. Said bonds shall be numbered from one (1) upward, consecutively, and be in denominations of not less than $100 nor more than $1000. They shall bear the date of issue, shall be made payable to the bearer and bear interest, payable semi-annually, with coupons attached for each interest payment. The bonds shall be signed by the chairman of the board of drainage commissioners, and shall be attested by the secretary of said board, and the seal of such district shall be affixed to each bond, but not to the coupons. The coupons may be signed by the facsimile lithographed or engraved signatures of the said officers.
The board of commissioners shall fix the maturities of said bonds not exceeding forty (40) years from the date of their issuance and an amortization period which shall be not less than three-fourths (3/4) of the maximum maturity. During the first fourth of the period covered by the last maturity provision may be made, in the discretion of the board, for the payment of interest only. Maturities shall be so arranged that during at least the latter three-fourths (3/4) of the period covered by the last maturity the principal shall be amortized by payments thereof in annual or semi-annual instalments so arranged as to maturities that the combined principal and interest payments during the amortization period shall be approximately the same each year. Said bonds shall be payable at such place within or without the state of Idaho as may be designated by the board of commissioners. The issuing drainage district may reserve the right to redeem said bonds or any of them at any time after ten (10) years from date thereof.
History:
[(42-2954) 1913, ch. 16, sec. 26, p. 58; reen. C.L., 168:51; C.S., sec. 4545; am. 1927, ch. 179, sec. 1, p. 242; am. 1927, ch. 254, sec. 1, p. 429; am. 1929, ch. 78, sec. 1, p. 116; I.C.A., sec. 41-2554; am. 1935, ch. 49, sec. 3, p. 89; am. 1970, ch. 133, sec. 6, p. 309.]
Structure Idaho Code
Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION
Chapter 29 - DRAINAGE DISTRICTS
Section 42-2901 - CORPORATE POWERS OF DRAINAGE DISTRICTS.
Section 42-2902 - APPROPRIATION OF WATER AVAILABLE FOR IRRIGATION PURPOSES.
Section 42-2903 - APPROPRIATION OF IRRIGATION WATERS — ASSESSMENTS FOR EXPENSES.
Section 42-2904 - MUNICIPALITY MAY ACT AS DRAINAGE DISTRICT.
Section 42-2905 - PETITION FOR ORGANIZATION.
Section 42-2906 - PETITION — BOND — CONDITION FOR WITHDRAWAL OF NAMES.
Section 42-2907 - ACTION ON PETITION — NOTICE OF HEARING.
Section 42-2908 - HEARING — OBJECTIONS — FINDINGS.
Section 42-2911 - OFFICERS — MEETINGS.
Section 42-2913 - COMPENSATION.
Section 42-2915 - ASSESSMENT OF BENEFITS AGAINST HIGH LANDS.
Section 42-2916 - DUTIES OF ENGINEERS AND SURVEYORS — PRELIMINARY SURVEY.
Section 42-2917 - CHANGES IN ORIGINAL PLANS.
Section 42-2918 - ALTERATION OF BOUNDARIES.
Section 42-2919 - REPORT OF INTENTION TO DO WORK — NOTICE OF HEARING ON CONFIRMATION.
Section 42-2921 - HEARING ON CONFIRMATION.
Section 42-2922 - FINDINGS AND DECREE.
Section 42-2923 - SUPPLEMENTAL REPORT.
Section 42-2925 - PROCEDURE ON DISMISSAL OF PROCEEDINGS.
Section 42-2926 - PROCEDURE FOR PAYMENT OF DAMAGES AWARDED — DETERMINATION OF CONFLICTING CLAIMS.
Section 42-2927 - LANDS OF STATE AND ITS SUBDIVISIONS.
Section 42-2928 - LANDS OF STATE AND ITS SUBDIVISIONS — ASSESSMENT.
Section 42-2929 - SUBSEQUENT ASSESSMENT OF PUBLIC LANDS.
Section 42-2930 - ADDITIONAL LEVY — NOTICE.
Section 42-2931 - ADDITIONAL CONSTRUCTION WORK AND ASSESSMENTS.
Section 42-2932 - FEES FOR SERVICE OF PROCESS.
Section 42-2933 - DISTRICT COURT MAY ENFORCE CHAPTER.
Section 42-2934 - ASSESSMENTS — WHEN INCONTESTABLE.
Section 42-2935 - ASSESSMENT ROLL.
Section 42-2936 - ASSESSMENTS ENTERED AS TAX LIENS — INSTALLMENTS.
Section 42-2937 - ASSESSMENT TO PAY JUDGMENT OF DISMISSAL.
Section 42-2939 - GENERAL POWERS OF DISTRICT.
Section 42-2940 - CONSTRUCTION OF WORKS — CONTRACTS.
Section 42-2941 - CONTRACTORS’ BONDS.
Section 42-2942 - COMMENCEMENT AND PROGRESS OF WORK.
Section 42-2943 - CHANGE OF PLANS — PROCEDURE IN DISTRICT COURT.
Section 42-2944 - PAYMENTS TO CONTRACTORS.
Section 42-2945 - CONNECTIONS BY PRIVATE DRAINS — COSTS.
Section 42-2946 - CONNECTION OF DISTRICT WITH LOWER DISTRICT — COSTS.
Section 42-2947 - USE OF NATURAL WATERCOURSES AND PREVIOUSLY CONSTRUCTED WORKS.
Section 42-2948 - CONSTRUCTION OF DIKES ALONG PUBLIC ROADS.
Section 42-2950 - WARRANTS — PAYMENT — INTEREST.
Section 42-2951 - LEGALIZATION OF WARRANTS ISSUED UNDER FORMER ACT.
Section 42-2952 - BONDS AUTHORIZED.
Section 42-2953 - FUNDING BONDS.
Section 42-2954 - FORM OF BONDS — INTEREST — MATURITIES.
Section 42-2955 - EXCHANGE OF BONDS FOR WARRANTS.
Section 42-2956 - LEVY FOR SINKING FUND.
Section 42-2957 - CALLING OF BONDS.
Section 42-2958 - LEVY FOR INTEREST.
Section 42-2959 - REGISTRATION OF BONDS.
Section 42-2960 - MAINTENANCE OF SYSTEM — DISTRICT NOT TO BE OPERATED FOR PROFIT.
Section 42-2961 - APPORTIONMENT OF COST OF MAINTENANCE.
Section 42-2962 - LEVY OF AND LIMITATION ON ASSESSMENTS.
Section 42-2963 - VALIDATION OF WARRANTS HERETOFORE ISSUED.
Section 42-2964 - INTERPRETATION OF LAW.
Section 42-2965 - PAYMENT OF ASSESSMENTS.
Section 42-2966 - INTERESTED PERSONS — RIGHT OF EXAMINATION.
Section 42-2968 - RIGHT OF ACTION BY INTERESTED PERSONS FOR ACCOUNTING.
Section 42-2969 - ACCESS TO RECORDS BY INTERESTED PERSONS FOR PREPARATION OF ACTION FOR TRIAL.
Section 42-2970 - METHOD OF PROCEDURE IN ACTIONS BY INTERESTED PERSONS.
Section 42-2972 - RELEASE OF LANDS FROM FURTHER LIABILITY UPON FULL PAYMENT.
Section 42-2973 - FORM OF RELEASE AND DISCHARGE.
Section 42-2974 - FILING AND RECORDING OF RELEASE AND DISCHARGE — EFFECT.
Section 42-2975 - CANCELLATION OF BONDS AND WARRANTS UPON DELIVERY.
Section 42-2976 - PAYMENT OF BONDS AFTER DEFAULT.
Section 42-2977 - PRO RATA PAYMENT OF INTEREST AND BONDS.
Section 42-2978 - REDEMPTION OF LANDS FROM LIEN FOR UNPAID ASSESSMENTS.
Section 42-2979 - SALE OF PERSONAL PROPERTY — PROCEDURE.
Section 42-2979A - TRADE-IN OR EXCHANGE OF DISTRICT PROPERTY.