Idaho Statutes
§ 42-5114 — POWER TO INCUR INDEBTEDNESS — ASSESSMENTS TO SECURE REPAYMENT
Idaho·Title 42 IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION·Ch. 51 GROUND WATER MANAGEMENT DISTRICTS
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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Idaho § 42-5114 (POWER TO INCUR INDEBTEDNESS — ASSESSMENTS TO SECURE REPAYMENT) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
[42-5114, added 1987, ch. 349, sec. 1, p. 771.]
Nearby Sections
15
§ 42-1001
APPLICATION TO COUNTY COMMISSIONERS§ 42-1002
SETTING DATE FOR HEARING§ 42-1004
CONDUCT OF HEARING — ORDER — APPEAL§ 42-1005
MATTERS CONSIDERED IN FIXING RATE§ 42-101
NATURE OF PROPERTY IN WATER§ 42-102
MEASUREMENT OF WATER§ 42-103
RIGHT ACQUIRED BY APPROPRIATION§ 42-105
USE OF NATURAL WATERWAYS — MEASUREMENT OF COMMINGLED WATER — APPROVAL OF RIGHT TO EXCHANGE WATER§ 42-106
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