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150-5-26. SALE OF WATER BY CONTRACT. - The board may sell, lease or otherwise dispose of the use of water by term contracts or by contracts for the perpetual use of such woter to public corpora- tions, persons, mutual ditch companies, water users' Associations and other private corporations for irri. gation, domestic, or commercial use as shall be pro- vided by contracts, in writing, authorized and entered into by the board; and the board shall require that security be given to secure the payments to be made under such contracts. used for the poyments of contingencies, defaults and delinquencies, and to pay the future annual install. ments of indebtedness on contracts or bonds and interest. 150.5-29. ADDITIONAL POWERS. . (1) (0) The board sholl hove the following powers concerning the management, control, delivery, use and distribution of water by the district; (b) To make and enforce all reasonable rules and regulations for the management, control, deliv- ery, use and distribution of water; (c) To withhold the delivery of water upon which there are any defaults or del!nquencies of payment; (d) To provide for and declare forfeitures of rights to the use of water upon default or failure to comply with any order, contract or agreement for the purchase, lease or use of water and to resell, lease or otherwise dispose of water upon which forfeiture has been declared; (e) To allocote and reallocate the use of water to lands within the district; (f) To provide for and grant the right, upon terms, to transfer water from lands to which water has been allocated to other lands within the district and to discharge liens from lands to which same was theretofore attached and to create liens, as provided in this article, upon lands to which the use of such water 'IS transferred. 150-5-27. CONTRACTS-SECURITY-ENFORCEMENT.- (1) (0) To meet the annual installments as provided in contracts for the use of water; (b) A water users' association may bind itself to levy on annual assessment on the use of water and to secure same by liens on land and water rights or in such manner as may be provjded by low; (e) A mutual ditc.h or irrigation company may bind itself by mortgage upon its irrigation works and system or to levy annual assessments upon its stock- holders; (d) Any person or corporation landowner may create a mortgage lien upon lands or give other se- curity satisfactory to the board; and all such contracts shall provide for forfeiture of the use of water for nonpayment of assessments or installments in the same manner and procedure as provided by statute for forfeiture of stock in a mutual ditch company; (e) A public corporation shall meet the annual installments as provided in sections 150.5-18 and 150-5-19 of this ortide. ( '\ (. ...".J.. ~~ ~~ - :~. ~~ ~~~ _..~ '"'''l18''' 150-5-31. INCLUSION OF LANDS.- 150-5-28.SINKING FUND. - Whenever a contract of indebtedness has been created by the district, it shall be lawful for the board to make the annual levy of taxes and special assessments in such amount as will creote a surplus of funds to meet the annual install. ments of indebtedness or the payment of bonds and interest, and the necessary maintenanc.e and operat- ing charges, and the board shall cause such surplus funds to be placed in a sinking fund which may be 10 (l) The boundaries of any district organized under the provisions of this article may be changed in the manner hereinafter prescribed, but the change of boundaries of the district shall not impair or affect its organization or its rights in or to property, or any of its rights or privileges whatsoever; nor shall it affect or impair or discharge any contract, obligation, lien or charge for or upon which it might be liable or chargeable had change of boundaries not been made. (2) The owners of land may file a petition with the board, in writing, praying that such lands be included 11