48-3228. Refunding of warrants and other
indebtedness of district
A. In addition to the power to issue refunding bonds for refunding bonded
indebtedness of an irrigation district, the board of directors may also issue refunding
bonds to refund district warrants, judgments, liens or other existing lawful indebtedness
of the district.
B. Bonds issued under the provisions of this section may be made a part of the
refunding bond issue under the provisions of this article or may be a separate issue as
the board of directors may determine.
C. Bonds issued under this section shall be of equal priority and
enforceability. The issuance of bonds under this section shall be governed by this
article so far as applicable and not in conflict with the purposes of this section. The
provisions of article 10 of this chapter relating to adoption of plans, surveys and maps
and the submission, approval and hearing by the state certification board concerning the
issuance of construction or original bonds shall not apply to bonds issued under this
article.
D. This section shall be liberally construed, and compliance with its provisions
which does not adversely affect substantial rights of the owners of land within the
district shall be deemed sufficient, and any error, omission or irregularity not
adversely affecting such substantial rights shall be disregarded. The board of directors
may, in all matters relating to the issuance of bonds under this article, make all
necessary provisions, rules and regulations, take any and all steps necessary to
effectuate the purpose of this article, and do any and all things necessary and proper
for the issuance, effectuation, validity, sale, delivery and payment of the bonds and the
principal and interest thereof.
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