There is a newer version of the Idaho Code and Statutes
2005 Idaho Code - 42-4216 — POWER TO INCUR INDEBTEDNESS -- ASSESSMENTS TO SECURE REPAYMENT
TITLE 42 IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION CHAPTER 42 GROUND WATER RECHARGE 42-4216. POWER TO INCUR INDEBTEDNESS -- ASSESSMENTS TO SECURE REPAYMENT. In order to secure funds for the construction of diversion works and facilities of the district, or the construction of any capital improvements thereto, 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 42-4215, Idaho Code.
Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.