43-605 — NONPAYMENT WHEN DUE

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                                  TITLE  43
                             IRRIGATION DISTRICTS
                                  CHAPTER 6
                               REFUNDING BONDS
    43-605.  NONPAYMENT WHEN DUE. Whenever any coupon or coupons detached from
any refunding bonds issued in conformity with the provisions of this chapter
are presented for payment on or after the due date or dates thereof, and there
shall not be funds available for the payment of such coupon or coupons, the
district treasurer shall indorse on the back thereof: "Presented for payment
.... (here insert date). Not paid for want of funds," keeping a record of such
presentation for payment and such nonpayment; and all coupons so indorsed
shall bear interest from that date until paid at the rate specified in the
refunding bonds, which interest shall be paid out of the moneys arising from
penalties and interest collected upon delinquent assessments for bond interest
upon redemption from such delinquent assessments, and, if such moneys so
arising shall not be sufficient for such purpose, then the deficiency shall be
raised by an increase in the next annual interest levy to be made as provided
in section 43-608.