Section 42-4101 – SHORT TITLE.
42-4101. SHORT TITLE. The following eighteen (18) sections may be cited as the "Water and Sewer District Revenue Bond Act." History: [42-4101, added 1976, ch. 62, sec. 1, p. 211.]
Section 42-4102 – GRANT OF AUTHORITY.
42-4102. GRANT OF AUTHORITY. Any water and/or sewer district acquiring, constructing, reconstructing, improving, bettering or extending any works pursuant to this act, shall manage such works in the most efficient manner consistent with sound economy and public advantage, to the end that the services of such works shall be furnished at the lowest possible cost. […]
Section 42-4103 – DEFINITIONS.
42-4103. DEFINITIONS. For the purpose of this act, unless a different meaning clearly appears from the context, the following terms shall be ascribed the following meanings: (a) The term "works" shall include water systems and sewerage systems; (b) The term "water system" shall include reservoirs, storage facilities, water mains, conduits, aqueducts, pipelines, pumping stations, filtration […]
Section 42-4104 – POWERS.
42-4104. POWERS. In addition to the powers which it may now have, any district shall have power under and subject to the following provisions: (a) To acquire by gift or purchase and to construct, reconstruct, improve, better or extend any works within or without the district, or partially within or partially without the district, or […]
Section 42-4105 – SUPERVISION OF WORKS.
42-4105. SUPERVISION OF WORKS. The construction, acquisition, improvement, equipment, custody, operation and maintenance of any works under the provisions of this act, and the collection of revenues therefrom for the service rendered thereby shall be under the supervision and control of the governing body of the district. History: [42-4105, added 1976, ch. 62, sec. 1, […]
Section 42-4106 – WORKS TO BE SELF-SUPPORTING.
42-4106. WORKS TO BE SELF-SUPPORTING. The commissioners of the district issuing bonds pursuant to this act shall prescribe and collect reasonable rates, fees, tolls or charges for the services, facilities and commodities furnished by such works, and shall revise such rates, fees, tolls or charges from time to time, to provide that all such works […]
Section 42-4107 – USE OF WORKS — REVENUE.
42-4107. USE OF WORKS — REVENUE. Any district issuing bonds under this act for the acquisition, construction, reconstruction, improvement, betterment or extension of any works, shall have the right to appropriate, apply or expend the revenue of such works for the following purposes: (a) to pay when due all bonds and interest thereon, for the […]
Section 42-4108 – PRELIMINARY EXPENSES.
42-4108. PRELIMINARY EXPENSES. The district may provide for the payment of all necessary preliminary expenses actually incurred in the making of surveys, estimates of costs and revenues, employment of engineers and other employees, making of notices, taking of options, legal and clerical help and all other expenses necessary to be made and paid prior to […]
Section 42-4109 – RESOLUTION PRIOR TO CONSTRUCTION — ELECTION.
42-4109. RESOLUTION PRIOR TO CONSTRUCTION — ELECTION. Before any district shall construct or acquire any works under this act, the commissioners of such district shall enact a resolution or resolutions which shall, (a) set forth a brief and general description of the works, and if the same are to be constructed, a reference to the […]
Section 42-4110 – BONDS — FORM — CONDITIONS.
42-4110. BONDS — FORM — CONDITIONS. Revenue bonds issued under authority of this act shall be sold, executed and delivered at public or private sale in the manner as provided by the municipal bond law. Revenue bonds may also be sold by electronic bidding as provided in section 57-233, Idaho Code. The resolution authorizing the […]
Section 42-4111 – BONDS — ISSUANCE — TERMS — CONDITIONS.
42-4111. BONDS — ISSUANCE — TERMS — CONDITIONS. Whenever revenue bonds are authorized to be issued, the district commissioners shall by resolution provide for the issuance thereof. The resolution authorizing the issuance of said revenue bonds, for the purpose authorized, shall contain covenants as to: (a) The purpose or purposes to which the proceeds of […]
Section 42-4112 – VALIDITY OF BONDS.
42-4112. VALIDITY OF BONDS. Any resolution authorizing said bonds may provide that the bonds shall contain a recital that they are issued pursuant to the water and sewer district revenue bond act, which recital shall be conclusive evidence of their validity and of the regularity of their issuance. History: [42-4112, added 1976, ch. 62, sec. […]
Section 42-4113 – LIEN OF BONDS.
42-4113. LIEN OF BONDS. All bonds of the same issue shall, subject to the prior and superior rights of outstanding bonds, claims or obligations, have prior and paramount lien on the revenue of the works for which said bonds have been issued, except that where provision is made in the resolution authorizing any issue or […]
Section 42-4114 – DISTRICT NOT LIABLE ON BONDS.
42-4114. DISTRICT NOT LIABLE ON BONDS. Bonds issued pursuant to the water and sewer district revenue bond act shall not be a debt of the district and the district shall not be liable thereon, nor shall they be payable out of any funds other than the revenue pledged to the payment thereof. Each bond issued […]
Section 42-4115 – WORKS AND BONDS EXEMPT FROM TAXATION.
42-4115. WORKS AND BONDS EXEMPT FROM TAXATION. So long as a district shall own any works, the property and revenue of such works shall be exempt from taxation. Bonds issued under the water and sewer district revenue bond act and the income therefrom shall be exempt from taxation, except transfer and estate taxes. History: [42-4115, […]