Idaho State Statutes - Idaho Attorney Directory

Whenever the board of directors shall deem
it expedient to issue refunding bonds under the provisions of this chapter
they shall, by resolution duly adopted and made a part of the district
records, call a special election of the qualified voters of the district, for
the purpose of voting upon the question of authorizing the board of directors
of the district to issue such refunding bonds, or the question may be
submitted at a general election for district officers.
At any election held under the provisions of this chapter the question of
authorizing the refunding of all or any part of the then outstanding bonded
indebtedness of the district, including accrued and unpaid interest, may be
submitted as one (1) question for determination whether such bonds are of the
same or of different issues.
The notice of said election shall be published and posted for the same
length of time and in the same manner, and the election shall be conducted and
the result thereof determined and declared in all respects, as nearly as may
be, in conformity with the provisions of the irrigation district laws of Idaho
governing elections authorizing original bond issues. Said election notice
shall specify the time and place for holding said election, the amount and
date of the bonds to be refunded, the amount of refunding bonds proposed to be
issued, the rate of interest they shall bear, and the time or times when the
debt evidenced by such refunding bonds shall be paid: provided, that the said
time or times shall not extend beyond a period of forty (40) years from the
date of said refunding bonds: provided further, that provision may be made, if
deemed expedient by the board of directors, for the payment of the principal,
with interest, in suitable instalments throughout the term of the loan
evidenced by said refunding bonds.
At such election the ballots shall contain the words "Refunding
bonds--yes" and the words "Refunding bonds--no," and the voter shall answer
the question submitted by marking a cross (X) opposite the words expressing
his choice.

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