US Laws, Codes, Statutes & Cases

                                  TITLE  43
                             IRRIGATION DISTRICTS
                                  CHAPTER 8
                      REPOSSESSION OF WATER RIGHTS UPON
                             ISSUANCE OF TAX DEED
    43-805.  OUTSTANDING BONDS NOT AFFECTED -- DUTY OF DIRECTORS. The election
of an irrigation district to cancel delinquent taxes in favor of the
irrigation district and accept in lieu thereof title to the water right for
the payment of which said taxes were levied, shall in nowise impair
outstanding bonds or obligations of the irrigation district, and upon such an
election by an irrigation district as herein provided, the board of directors
shall:
    1.  Either set aside in a sinking fund with the state treasurer as the
acting treasurer of the irrigation district an amount sufficient to pay the
unpaid balance of the taxes to be levied upon the land for which the water
right was purchased, based upon the assessments of benefits as confirmed by
the court in the proceedings confirming the sale of bonds of said irrigation
district;
    2.  Or shall provide an equivalent assessment of benefits against other
lands of equal value.