§1544. Funding or refunding bonds
Any drainage district or sub-drainage district organized prior to the adoption of the Constitution of 1921, and not reorganized under the provisions of the Constitution of 1921, and the laws carrying same into effect, which have heretofore, upon petition of the property taxpayers and in accordance with the provisions of Section 3 of Article 281 of the Constitutions of 1898 and 1913, and the laws carrying the Constitutions into effect, incurred debts against the lands within the drainage district or sub-drainage district, for the purpose of reclaiming the lands therein, and issued negotiable bonds to represent the indebtedness, may, for the purpose of readjusting, funding, refunding, extending or unifying any or all of its authorized indebtedness, bonded or otherwise, or both, issue and sell funding or refunding bonds, and with the proceeds of the sale thereof pay the indebtedness, or may exchange the funding or refunding bonds with the holders of the outstanding indebtedness, bonded or otherwise, in payment thereof, all in the manner as hereinafter provided.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
