There is a newer version
of
this Section
2018 Idaho Statutes
Title 43 - IRRIGATION DISTRICTS
Chapter 6 - REFUNDING BONDS
Section 43-605 - NONPAYMENT WHEN DUE.
Universal Citation: ID Code § 43-605 (2018)
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.
History:
[(43-605) 1915, ch. 142, sec. 5, p. 299; reen. C.L., sec. 2406k; C.S., sec. 4379; am. 1929, ch. 203, sec. 1, p. 398; I.C.A., sec. 42-605.]
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.
