§ 61-09-08 — Board to levy assessment against lands of district - Amount - How determined

determined.
The board then shall levy an assessment against the lands of the district sufficient to:
1. Pay the interest on outstanding bonds and improvement warrants;
2. Create a sinking fund to retire outstanding bonds and improvement warrants at
maturity; and
3. Pay any and all obligations of the district due, or to become due during the ensuing
year, including payments due, or to become due, under any contract with the United
States, or with any department or agency thereof, or under any contract with the state
water commission, or with any person, firm, corporation, or limited liability company, or
with another irrigation district.
In determining the total of such levy, the board shall take into consideration revenue derived
from sources other than that obtained from the assessment and taxation of district lands. The
secretary of the board shall compute and enter in separate columns of the assessment record
the respective sums in dollars and cents required for each purpose, and each purpose shall be
denominated a fund.