42-5120. LENDING INSTITUTIONS — RIGHT TO COMPEL ASSESSMENTS — ALTERNATIVE REMEDY. If in any year the board of directors fails to levy assessments for the repayment of indebtedness in amounts sufficient to meet a payment or payments falling due, the lender may bring an action in the district court of any county in which the district is situated to compel the board to levy assessments in amounts sufficient to insure the payment thereof; provided, however, that the board may not be compelled to increase assessments for the repayment of indebtedness if the maximum annual assessment limitation specified in section 42-5113, Idaho Code, will be exceeded thereby. In the event that the maximum annual assessment limitation has been reached and the assessments for repayment of indebtedness nevertheless will be insufficient to meet a payment or payments falling due, the lender may, in the alternative, seek an order requiring that moneys received by the district in payment of assessments for all purposes be first expended for the repayment of that portion of the indebtedness falling due.
History:
[42-5120, added 1987, ch. 349, sec. 1, p. 775.]
Structure Idaho Code
Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION
Chapter 51 - GROUND WATER MANAGEMENT DISTRICTS
Section 42-5101 - LEGISLATIVE INTENT.
Section 42-5102 - GROUND WATER MANAGEMENT DISTRICT FORMATION.
Section 42-5103 - FORMATION OF DISTRICT — DECLARATION BY DIRECTOR.
Section 42-5105 - CITIES — MANNER OF VOTING FOR DIRECTORS.
Section 42-5106 - WATER USERS OTHER THAN CITIES — QUALIFICATIONS FOR VOTING.
Section 42-5107 - REGISTRATION REQUIRED.
Section 42-5108 - NOTICE OF ELECTION.
Section 42-5109 - CONDUCT OF ELECTIONS.
Section 42-5110 - CANVASS OF RETURNS — DECLARATION OF WINNERS.
Section 42-5111 - BOARD OF DIRECTORS — OFFICERS — MEETINGS — COMPENSATION — VACANCIES.
Section 42-5112 - POWERS AND DUTIES OF BOARD OF DIRECTORS.
Section 42-5113 - LEVY OF ASSESSMENTS.
Section 42-5114 - POWER TO INCUR INDEBTEDNESS — ASSESSMENTS TO SECURE REPAYMENT.
Section 42-5115 - ELECTION FOR INDEBTEDNESS — REFERENDUM PETITION.
Section 42-5116 - JUDICIAL EXAMINATION.
Section 42-5117 - JUDICIAL PROCEEDINGS TO TEST VALIDITY.
Section 42-5118 - TAX EXEMPTION.
Section 42-5119 - LIBERAL CONSTRUCTION.
Section 42-5120 - LENDING INSTITUTIONS — RIGHT TO COMPEL ASSESSMENTS — ALTERNATIVE REMEDY.
Section 42-5121 - LIEN OF ASSESSMENT.
Section 42-5122 - PAYMENT OF ASSESSMENTS — WHEN DELINQUENT — INTEREST AND PENALTIES.
Section 42-5123 - ENTRY OF DELINQUENT ASSESSMENTS — FILING OF DELINQUENCY LIST.
Section 42-5124 - REDEMPTION AND SALE OF PROPERTY SUBJECT TO DELINQUENT ASSESSMENTS.
Section 42-5125 - WATER USERS SUBJECT TO INCLUSION WITHIN THE DISTRICT.
Section 42-5126 - EXCLUSION FROM THE DISTRICT — PROCEDURE — GROUNDS FOR EXCLUSION.
Section 42-5127 - HEARING — NOTICE — ENTRY OF ORDER.
Section 42-5129 - EFFECT OF EXCLUSION ON LIABILITY FOR ASSESSMENTS.