Idaho State Statutes - Idaho Attorney Directory

To carry out the
purposes of this chapter and to pay the necessary expenses of the district,
the board is hereby authorized to issue negotiable coupon bonds of the
district. Bonds shall be due and payable serially either annually or
semiannually, commencing not later than three (3) years and extending not more
than thirty (30) years from date. The form and terms of said bonds, including
provisions for the rate of interest, their payment, and redemption shall be
determined by the board. If the board so determines, such bonds may be
redeemable prior to maturity, upon payment of a premium not exceeding three
per cent (3%) of the net principal thereof. Said bonds shall be executed in
the name of, and on behalf of, the district and signed by the chairman of the
board with the seal of the district affixed thereto, and attested by the
secretary of the board. Said bonds shall be in such denominations as the board
shall determine, and the bonds and coupons thereto attached shall be payable
to bearer. Interest coupons shall bear the original or facsimile signature of
the chairman of the board. In other respects, said bonds shall be issued, sold
and paid in accordance with the provisions of the Municipal Bond Law of the
state of Idaho.

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