Idaho § 42-5114 POWER TO INCUR INDEBTEDNESS — ASSESSMENTS TO SECURE REPAYMENT

Idaho Statutes

§ 42-5114 — POWER TO INCUR INDEBTEDNESS — ASSESSMENTS TO SECURE REPAYMENT

Idaho § 42-5114

Title 42IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION

Ch. 51GROUND WATER MANAGEMENT DISTRICTS

This text of Idaho § 42-5114 (POWER TO INCUR INDEBTEDNESS — ASSESSMENTS TO SECURE REPAYMENT) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 42-5114 (2026).

Text

In order to secure funds for the repair or abandonment of wells in the district, the board of directors may, by resolution duly adopted and entered upon the minutes, incur indebtedness by contract with a money-lending institution; provided, however, that the term of such indebtedness shall not exceed ten (10) years. To secure the repayment of any indebtedness so incurred, the board shall levy assessments over the term of the indebtedness in amounts sufficient to repay the interest and principal as it falls due. Such assessments shall be levied in the manner and shall be subject to the limitations set forth in section 42-5113, Idaho Code, and may only be levied if the indebtedness has been approved at the election contained in sections 42-5115 through 42-5119, Idaho Code.

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In order to secure funds for the repair or abandonment of wells in the district, the board of directors may, by resolution duly adopted and entered upon the minutes, incur indebtedness by contract with a money-lending institution; provided, however, that the term of such indebtedness shall not exceed ten (10) years. To secure the repayment of any indebtedness so incurred, the board shall levy assessments over the term of the indebtedness in amounts sufficient to repay the interest and principal as it falls due. Such assessments shall be levied in the manner and shall be subject to the limitations set forth in section 42-5113, Idaho Code, and may only be levied if the indebtedness has been approved at the election contained in sections 42-5115 through 42-5119, Idaho Code.