Show i ine TI The ne I Irrigation D' D District s L Law Lav aW i iSee See Sect 13 The title to all property property property prop prop- erty acquired under the provisions provisions provi provi- of this Act shall immediately immediately immedi immedi- and b by oI operation cration of law I Ivest vest in such irrigation district I II I in its Corporate name and shall be held by such district in trust I Ifor For and is h reby dedicated I and set apart for the uses and I purposes set forth in this Act and shall be exempt from all taxation board is hereby hereby here- here by hy authorized and empowered to hold use and acquire manage manage man man- age occupy and possess said property as herein provided provided provide that when any district district district dis dis- dis- dis contemplated in this Act shall find it necessary to procure procure pro pro- pro pro- cure ure and acquire a supply of water from outside the boundaries boundaries boundaries bound bound- aries of this St State e then in such suche e event ent it shall be lawful for said district to contract and pay for forthe forthe forthe the same satue in the same manner r ras as other property acquired by bythe bythe bythe the district is s purchased and pai paid for Sec 1 15 For the purpose of constructing or purchasing or acquiring necessary reservoir sites reser reservoirs water rights canals ditches ditches and works and acquiring the necessary property proper proper- ty and rights for the purpose of pa paying ing th the first years year's interest upon the bonds herein authorized ed otherwise otherwise otherwise carrying carrying carrying car car- out visions of t this is i's Act the Board of Directors of any such stich district shall as soon after such district has been organized organized organized or or- as may be pr practicable estimate and determine the theat at of money necessary to tobe be be raised for such purposes and shall forthwith call a sp cial election cial at Which electron election shall be submitted to the land landowners landowners landowners owners of such district possessing possess possessing possess possess- ing the qualifications prescribed ed by this Act the question o p whether or not the bonds of said district shall be issued in inthe inthe n the amount so determined A notice of such election must be gi given en b posting notices in three public places in each election precinct in said district for at least twenty days daysi and also also also al al- al- al so by publication of s such ch notices notices notices no no- tices in iIi some newspaper published published published pub pub- in the county if there beno be no Ito such paper published in sa said d county then the same shall be published in some V newspaper paper having having- general circulation in said c county u where here the off office c of th the tha Hoard of Directors of such district is required to li be ki k pt tt once a tv week ek for at l least pst three successive Weeks S Such ch notice shall specify the time tinie of h holding hold hold- ld- ld ing the election the amount of bonds pr proposed po ed to be issued and said election must be held and the results thereof determined determined deter defer mined and declared i in ir all r re respects respects re- re as nearly as possible in conformity with the provisions of this Act g governing gerning tile the election elec tion of officers provided til that t no informalities in in conducting such election shall invalidate ill the same if the ele election tion shall haye Kaye been otherwise fairly coli conducted con cou ducted At such election the ballots shall c Contain the wor words II Yes Bonds B Bonds Ye Yes or Bonds No or words equivalent thereto there there- to If a two-thirds two majority of the land owners who are entitled entitled en en- titled to vote ote within said district district dis dis- dis have Voted Bonds Yes Bonds Yes the Board of Directors shall immediately cause bonds in such amount to be issued and payable in in series as DS follows to towi wit t At the expiration expiration of eleven years not less than five per percent percent percent cent of oc the whole amount and number of said bonds at the expiration of twelve years cars not less than six per cent of the whole amount and number of said bonds at the expiration of thirteen years not less than seven per cent of the whole amount and number of said bonds at the expiration of fourteen fourteen fourteen four four- teen years year's not less than eight per cent of the thc whole amount and number of said bonds at atthe atthe atthe the expiration of fifteen years not less than nine per cent of the whole amount and number pf of f said bonds at the expiration of sixteen years not less than ten per cent of the whole amount and number of said bonds at atthe atthe atthe the expiration of seventeen years jears not less than eleven en per percent ceu cent of the whole amount and number of said bonds at the expiration of eighteen years not pot less than thirteen per cent of the whole amount and number num nuni- ber of said bonds at the end enl of oi twenty years a percentage sufficient sufficient suf suf- to pay payoff off the remainder of said bonds that the several sey-erill enumerate enumerated l percentages be of oJ the entire amount of the bond issue that each bond must be payable at the given time for its entire amount and not for bra fora a percentage that said bonds bond shall bear interest at the rate of ol not to td exceed six per cent per annum payable Semi annually on the first day of June and nd December De- De cember of each year The rhe pr principal and interest shall be payable at the office of the County Treasurer of the county in which the organization of pJ the district was effected as a's aforesaid r and at such other other place as tHe Board of Directors Director may designate in such bond Sa shall be each of the of one h hundred dollars i nor more than five fhe hundred hun bun dred Bred dollars negotiable its it f form rm executed in the name of f t the district and mid signed by the president find and secret secretary ry and the seal ot of the district shall be affixed the thereto to Said Said shall be numbered consecutively consecutive consecutive- ly as issued and bear date at atthe atthe atthe the time of their issue Coupons Coupons Cou Cou- pons for the interest s b be attached to each bond bearing earing the lithographed sig signatures attires of the president arid secretary Said bonds sJ shall express on their face that they are issued by the the- authority of this Act Act- stating its its' title and dat date of a ap ah 1 The secretary shall shrill keep keep- a record of the sold sold- th their ir number r date crate of sale safe t the ie price pike r received cei v d and the thes name of the the- purchased r. r any such district play may by a two- two thirds majority vote of the land landowners gr owners of ot said district pt id for th the issuance of ot bonds that will mature iri iti any n number ri ber of years f less ss th than n twenty and arrange arrange arrange ar ar- ar- ar range for tor the payment thereof in series as above e provided pro yi provided efi further that when the money provided by any precious previous previous pre pre- cious of bonds has be- be conie exna exhausted sted by expenditures expenditures expenditures expendi expendi- tures herein authorized there there- for and aud it becomes necessary t to raise additional money y for fot such purposes that additional bonds ma may be issued submitting the question at special election to the qualified pf of said district dis dis- district otherwise complying ing with the provisions of this s' s section in inn respect to an ori original inaI issue of such bonds provided also ulso th the lien lied for taxes for the payment of the interest and pr principal of ofal al any Y bond issue shall be- be bea be-a a prior li lien Hen n to that of any subsequent bond issue |