43-411. PAYMENT OF BONDS AND INTEREST. Said bonds and the interest thereon shall be paid by revenue derived from the assessment upon the land in the district; and all the land in the district shall be and remain liable to be assessed for such payment: provided, that payment of interest may be made in accordance with the provisions of chapter 5 of this title; and provided also that the board of directors may fix rates of tolls and charges for use of water from the canals and irrigation system of the district, proportionate to the assessment and apportionment of benefits, for the purpose of paying the whole or any part of the principal or interest or both then due or next thereafter to become due. Where a toll is fixed for the payment of bond principal or interest, any portion of such toll remaining unpaid at the time fixed for levying the next annual assessment for payment of bond principal or interest, shall be added to and become part of the assessment against the land delinquent in the payment of such toll. The board in its order fixing or levying such tolls may fix the date or dates on or before which the same must be paid, may make the same payable in advance of the delivery of any water during the year for which the same are fixed, and may make provision for the collection thereof and the keeping of a toll book by the district treasurer.

History:

[(43-411) 1903, p. 150, sec. 22; am. 1907, p. 481, sec. 1, subd. 22; reen. R.C., sec. 2405; am. 1915, ch. 38, sec. 1, p. 119; compiled and reen. C.L., sec. 2405; C.S., sec. 4369; I.C.A., sec. 42-411; am. 1966 (2nd E.S.), ch. 8, sec. 2, p. 20.]