Wash. Rev. Code § 87.22.010
Refunding authorized
Any or all bonds heretofore issued by any irrigation district in this state may be refunded as hereinafter provided.
Revised Code of Washington Chapter 87.22 — Refunding Bonds—1929 Act
Washington · statute · Wash. Rev. Code ch. 87.22 · 37 active provisions
Wash. Rev. Code § 87.22.020
When proceedings may be instituted
Before any proposition for the issuance of limited liability refunding bonds, as provided for in this chapter, of an irrigation district in this state shall be submitted to the electors thereof, the board of directors of said district shall at their option have authority, upon the written consent of the owners of at le…
Wash. Rev. Code § 87.22.030
Petition—Contents
The said board of directors shall institute such proceedings by filing a petition in the superior court of the county in which the greater part of the lands in the district are situated. Said petition shall give the name of the district, shall set out the nature of its water rights and the general character of its irri…
Wash. Rev. Code § 87.22.040
Schedule of maximum benefits
There shall accompany said petition as an exhibit thereto a schedule of maximum benefits and of irrigable acreage for all the respective lands in the district. Such schedule shall contain in appropriate columns the name of the person to whom such tract of real property was assessed and the description of said property…
Wash. Rev. Code § 87.22.050
Hearing, time and place of
Upon the filing of said petition with the schedule of irrigable acreage and maximum benefits, the court shall fix a time and place for hearing the same and shall order the secretary of the district to give and publish a notice of said hearing. Said hearing may be held at the place fixed in the order and may be adjourne…
Wash. Rev. Code § 87.22.060
Notice—Service
The notice of said hearing shall be given and published in the same manner, except as herein otherwise provided, and for the same length of time that a notice of a special election to determine whether the bonds of the district shall be issued is required to be given and published.
Wash. Rev. Code § 87.22.065
Notice—Contents
Said notice shall state that the district (naming it) proposes to issue and dispose of a refunding bond issue specifying the amount; that proceedings have been instituted in the superior court of the state of Washington in and for the specified county to determine the maximum benefits to be received by the lands within…
Wash. Rev. Code § 87.22.070
Hearing—Decree
At the time and place stated in the notice of said hearing, the court shall consider said petition and shall receive such pertinent evidence as may be offered in support thereof or against the same, shall enter a decree fully determining the maximum benefits received by and the irrigable acreage in, the several tracts…
Wash. Rev. Code § 87.22.080
Benefits, how determined—Dismissal—Continuance—Waiver
The maximum benefits accruing to the several tracts of land in the district from the proposed refunding bond issue shall be considered as new and independent of that accruing from the bonds to be refunded and in determining the maximum benefits as prayed for in said petition, the court shall not be limited to a conside…
Wash. Rev. Code § 87.22.085
Irrigable acreage, how determined
In determining the irrigable acreage as provided herein, the court shall consider all lands included in the district capable of being used for agricultural purposes, provided that no lands shall be found to be irrigable which are not irrigable from the plan of the irrigation works of the district; and provided that not…
Wash. Rev. Code § 87.22.090
Appellate review
Appellate review of the judgment entered in said proceedings may be sought in the same manner as in other cases in equity.
Wash. Rev. Code § 87.22.100
Final judgment conclusive
The judgment of the court determining maximum benefits and the irrigable acreage in such proceedings, unless appealed from within the time prescribed by law, and upon final judgment on appeal, shall be conclusive, except as herein otherwise provided, upon and against each and every owner of said bonds issued as propose…
Wash. Rev. Code § 87.22.105
Final judgment conclusive—Exception
Said judgment shall be final and conclusive upon and against all lands in the district on appeal as aforesaid, except as to the particular tract or tracts involved in the appeal.
Wash. Rev. Code § 87.22.110
Transcript to other counties
A transcript of so much of the judgment in said proceedings as pertain to the lands situated in each county other than the one in which the proceedings were instituted shall be certified by the clerk of the court and mailed to the county clerk of each of said other counties respectively for record among the recorded ju…
Wash. Rev. Code § 87.22.120
Election—Question to electors
Upon final determination of maximum benefits and irrigable acreage aforesaid, the board of directors of the district shall submit to the electors of the district possessing the qualifications prescribed by the irrigation district law the question whether refunding bonds of the district in amount and of the maturity pro…
Wash. Rev. Code § 87.22.125
Election—Procedure
Except as herein otherwise specifically provided said election shall be called, noticed, conducted and the results thereof determined in the same manner and by the same officials as that provided by law for the calling, noticing, conducting and canvassing of original bond elections in irrigated districts.
Wash. Rev. Code § 87.22.130
Election—Notice, contents
The notice of said election shall specify the time and place of the election, the amount of the proposed refunding bonds, the maturity, the schedule of the minimum annual payments of the principal thereof and the maximum annual rate of interest said bonds shall bear, as approved by the court in the decree determining m…
Wash. Rev. Code § 87.22.140
Election—Majority vote affirmative, procedure
If a majority of the votes cast at said election are in favor of the proposed refunding issue the board of directors shall thereupon have authority to cause refunding bonds of the district in the amount and on the basis of the plan of payment and rate of interest proposed, to be issued and exchanged as herein provided.
Wash. Rev. Code § 87.22.145
Exchange of bonds
Refunding bonds provided for under this chapter may be exchanged for any or all of the bonds to be refunded on such basis as may be agreed upon between the board of directors of the district and the bond owners: PROVIDED, That said refunding bonds shall not be issued in a greater sum than the total aggregate face value…
Wash. Rev. Code § 87.22.150
Form of bonds—Manner of payment—Interest rate
(1) Said refunding bonds shall be issued in such denominations as the board shall determine, but in the same denominations so far as practicable as the bonds to be refunded and shall mature at the date specified in the notice of election but not in any event later than thirty years from the date thereof, and shall be p…
Wash. Rev. Code § 87.22.160
Interest on unpaid bond installments—When payable
All unpaid installments on account of the principal of said refunding bonds shall bear interest from the date of the bonds at a rate or rates as authorized by the board of directors of the district. Different installments of the principal of said bonds may bear different rates of interest if it is so provided in the bo…
Wash. Rev. Code § 87.22.165
Bond payments, where payable
Both principal and interest shall be made payable at the office of the county treasurer of the county in which the office of the board of directors of the district is situated.
Wash. Rev. Code § 87.22.170
Bond contents—Transferability—Priority
Said bonds shall express upon their face that they were issued by authority of this chapter, stating its title and date of approval, that the district reserves the right to pay on account of the principal thereof annual installments at a greater rate than the minimum rate stated in the bonds, that said bonds are transf…
Wash. Rev. Code § 87.22.175
Bonds—Signature—Registration book
Said bonds shall be signed by the president of the board and secretary of the district and the seal of the district shall be impressed thereon. The term "registration book" as used in chapter 87.22 RCW shall constitute the method of registration adopted in conformance with RCW 39.46.030.
Wash. Rev. Code § 87.22.190
Transfer on registration book required
Said bonds shall be transferable only on the registration book and any attempted transfer of said bonds not recorded in said registration book shall be void so far as the rights of the district are concerned.
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