1. When refunding bonds shall be issued to pay for drainage improvements under the provisions of this part, all special assessments, taxes, and sinking funds applicable to the payment of such bonds previously issued shall be applicable in the same manner and the same extent to the payment of the refunding bonds issued under this part, and all the powers and duties to levy and collect special assessments and taxes or create liens upon property shall continue until all refunding bonds shall be paid.

Terms Used In Iowa Code 468.376

  • district: means a district defined by a county and one or more cities within the county pursuant to an agreement entered into by the county and cities in accordance with chapter 28E and this part with respect to drainage improvements which the county and cities determine benefit the property located in the cities and the designated unincorporated area of the county. See Iowa Code 468.585
  • property: includes personal and real property. See Iowa Code 4.1
 2. The drainage district shall collect the special assessments out of which the said bonds are payable and hold the special assessments separate and apart in trust for the payment of the refunding bonds but the provisions of this part shall not apply to assessments or bonds adjudicated to be void.
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