42-3007. EXCHANGE OF BONDS — APPLICATION OF PROCEEDS OF SALE — EFFECT OF DECREE. All or any part of such refunding bonds may be exchanged, dollar for dollar, for the bonds to be refunded, or they may be sold, at not less than their par value, as directed by the board of commissioners and the proceeds thereof shall be applied only to the purposes for which said refunding bonds are issued. The authority vested in the board of commissioners by the judgment and decree as in this chapter provided shall be and remain effective until all of the bonded indebtedness so authorized to be refunded has been paid, redeemed or refunded.
History:
[(42-3007) 1925, ch. 21, sec. 7, p. 29; I.C.A., sec. 41-2607.]
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.