42-2977. PRO RATA PAYMENT OF INTEREST AND BONDS. If at any time twenty per cent (20%) or more of the entire issued, uncalled and outstanding bonds of such district shall be past due and unpaid, after the application of all funds available for the payment thereof, then the numerical order, or other provisions of law, of payment of all outstanding and uncalled bonds of such district shall immediately cease, and thereafter the county treasurer shall distribute all funds coming into his hands applicable to the payment of bonds pro rata on all outstanding and uncalled bonds, whether due or to become due, to the end that after such default in the percentage herein set out, there shall be paid on each outstanding and uncalled bond its equal and ratable proportion of all funds so collected for the payment of said bonds; provided further, that if at the time of such default there shall be matured and unpaid interest on any or all of such outstanding bonds, then all moneys thereafter available for the payment of interest shall be applied toward the payment of interest longest in default until all bonds shall have assumed the same relative position in regard to interest payment. When interest shall have been paid on all outstanding bonds to the same date, thereafter all moneys available for the payment of interest shall be paid equally and ratably to the holders of all outstanding and uncalled bonds. No payment shall be made by the county treasurer after such default, upon either principal or interest, except upon presentation of the bond and the indorsement by the county treasurer of the amount paid thereon, together with the date of payment, except in the event of full payment of interest coupons, said coupons shall be surrendered to the county treasurer.
History:
[42-2977, added 1935, ch. 54, sec. 2, p. 102.]
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.