2005 Idaho Code - 42-3001 — ISSUANCE AUTHORIZED

                                  TITLE  42
                       IRRIGATION AND DRAINAGE -- WATER
                            RIGHTS AND RECLAMATION
                                  CHAPTER 30
                      DRAINAGE DISTRICT REFUNDING BONDS
    42-3001.  ISSUANCE AUTHORIZED. The board of commissioners of any drainage
district organized under the laws of the state of Idaho may issue negotiable
coupon bonds, to be denominated refunding bonds, for the purpose of refunding
any of the bonded indebtedness of the district, whether due or not due, on
which has or may hereafter become payable at the option of the district or by
consent of the bondholders, or by any lawful means, whether such bonded
indebtedness be now existing or may hereafter be created, and there shall not
be funds in the treasury of such district available for the payment or
redemption of such bonds and the accrued and unpaid interest thereon.