42-3002. OPTIONAL PROCEDURE. Whenever any drainage district has issued bonds and the same are outstanding and unpaid, and the same have been outstanding and unpaid for more than three (3) years, the district may, in the manner hereafter provided, issue and sell bonds for the purpose of paying and redeeming such outstanding bonds, and may call and pay said bonds, or at its option, may authorize the issue of sufficient bonds to pay and redeem the whole of such outstanding bonds, but may issue and sell the same in such amounts from year to year, as will pay and redeem the outstanding bonds falling due each year, and may continue to issue and sell such refunding bonds until the whole of the outstanding bond issue, which has been refunded, is paid and redeemed.
History:
[(42-3002) 1925, ch. 21, sec. 2, p. 29; I.C.A., sec. 41-2602.]
Structure Idaho Code
Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION
Chapter 30 - DRAINAGE DISTRICT REFUNDING BONDS
Section 42-3001 - ISSUANCE AUTHORIZED.
Section 42-3002 - OPTIONAL PROCEDURE.
Section 42-3003 - RESOLUTION SPECIFYING TERMS AND CONDITIONS.
Section 42-3004 - CONFIRMATION PROCEEDINGS — PETITION.
Section 42-3005 - CONFIRMATION PROCEEDINGS — TIME AND NOTICE OF HEARING — PRACTICE.
Section 42-3006 - CONFIRMATION PROCEEDINGS — HEARING — DECREE.
Section 42-3007 - EXCHANGE OF BONDS — APPLICATION OF PROCEEDS OF SALE — EFFECT OF DECREE.
Section 42-3008 - APPLICATION OF DRAINAGE DISTRICT LAW.
Section 42-3009 - ASSESSMENT ROLL UNDER FORMER BOND ISSUE — CONTINUANCE IN EFFECT.