Idaho State Statutes - Idaho Attorney Directory

To carry out the
purposes of this act and to pay the necessary expenses of the district, the
board is hereby authorized to issue negotiable coupon bonds of the district.
Bonds shall bear interest payable semiannually, and shall be due and payable
serially either annually or semiannually, commencing not later than three (3)
years from the date of issuance. The form and terms of said bonds, including
provisions for 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 all other respects, said bonds shall be issued, sold and paid in
accordance with the provisions of chapter 2, title 57, Idaho Code, known as
the "Municipal Bond Law" of the state of Idaho.

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