42-365. Bonds; tax levy to pay. Any irrigation district created under the provisions of this article shall have the power, and it is hereby authorized, to issue the bonds of said district for the purpose of building or purchasing any main ditch, ditches, or laterals, or any other works, system or device necessary or suitable for the purpose of irrigating the land in such district; the total amount of said bonds not to exceed ten dollars ($10) per acre for each acre of land irrigable from and by said works so purchased or constructed, or to be purchased or constructed, in said district; said bonds to be payable in not less than five (5) years nor more than thirty (30) years, and to bear interest not to exceed the maximum rate prescribed by K.S.A. 10-1009; and shall have power to levy such tax upon all the real estate which shall be dependent for irrigation upon the irrigation works so constructed or purchased, or to be so constructed or purchased, within said district, as may be necessary to raise sufficient funds to pay the interest on such bonds and create a sinking fund to meet the payment of such bonds at maturity thereof.
History: L. 1891, ch. 133, art. 7, § 9; L. 1901, ch. 71, § 1; R.S. 1923, 42-365; L. 1970, ch. 64, § 73; March 21.
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