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<br />(10) To appropriate and otherwise acquire water
<br />and water rights within or without the state; to de.
<br />velop, store and transport water; to subscribe for,
<br />purchase and acquire stock in canal companies,
<br />water companies and water users' associations; to
<br />provide, sell, lease, and deliver water for municipal
<br />and domestic purposes, irrigation, power, milling,
<br />manufacturing, mining, metallurgical and any and
<br />all other beneficial uses and to derive revenue and
<br />benefits therefrom; to fix the terms and rates there.
<br />fore; and to make and adopt plans for and to acquire,
<br />construct, operate and maintain dams, reservoirs,
<br />canals, conduits, pipelines, tunnels, power plants and
<br />any and all works, facilities, improvements in prop-
<br />erty necessary or convenient therefore, and in the
<br />doing of all said things to obligate itself and execute
<br />and perform such obligations according to the tenor
<br />thereof; provided, the sale, leasing and delivery of
<br />water for irrigation and domestic purposes as pro-
<br />vided in this section shall only.be made for use within
<br />the district.
<br />
<br />(11) Nothing provided in this article shall be con-
<br />strued to grant to the district or board the power to
<br />generate, distribute or sell electric energy except for
<br />the operation of the works and facilities of the district.
<br />
<br />(12) To invest any surplus money in the district treas-
<br />ury, including such money as may be in any sinking
<br />fund established for the purpose of providing for the
<br />payment of the principal ar interest of any contract,
<br />or bonded, or other indebtedness or for any other
<br />purpose, not required for the immediate necessities
<br />of the district, in its own bonds, or in treasury nates
<br />or bonds of the United States, ar of this state, and
<br />such investment may be. made by direct purchase of
<br />any issue of such bonds or treasury notes, or port
<br />thereof, at the ariginal sale of the same, ar by the
<br />subsequent purchase of such bonds or treasury notes.
<br />Any bonds or treasury notes thus purchased and
<br />held may be sold from time to time, and the proceeds
<br />reinvested in bonds or treasury notes. Sale of any
<br />bonds or treasury notes thus purchased and held
<br />shall be made in season so that the proceeds may
<br />be applied to the purposes for which the money
<br />with which the bonds or treasury notes were origin-
<br />ally purchased were placed in the treasury of the
<br />district. The functions and duties authorized by this
<br />subsection shall be performed under such rules and
<br />regulations os shall be prescribed by the board.
<br />
<br />150-5-16 CLASSIFICATION OF TAXES AND ASSESS-
<br />MENTS-POWERS -
<br />
<br />(1) (a) In addition to the other meons of providing
<br />revenue for such districts, the board shall have the
<br />power and authority to levy and collect taxes and
<br />
<br />8
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<br />special assessments for maintaining and operating
<br />such works and paying the obligations and indebt~
<br />edness of the district by anyone or more of the meth-
<br />ods or combinations thereof, classified as follows:
<br />
<br />(b) Class A. To levy and collect taxes upon all
<br />property within the district as provided in section
<br />150-5-17.
<br />
<br />(c) Class B. To levy and collect assessments for
<br />special benefits accruing to property within munici-
<br />palities for which use of water is allotted as provided
<br />in section 150.5-18.
<br />
<br />(d) Class C. To levy and collect assessments for
<br />special benefits accruing to property within public
<br />corporations for which use of water is allotted as
<br />provided in section 150-5-19.
<br />
<br />(e) Class D. To levy and collect assessments for
<br />special benefits accruing to lands for which use of
<br />water is allotted os provided in sections 150-5-20.
<br />
<br />150.5-21. LEVIES COVER DEFAULTS AND DEFICIEN-
<br />CIES. - The Board in making the annual assessments
<br />and levies, shall take into account the maturing in-
<br />debtedness for the ensuing year os provided in its
<br />contracts or the maturing of bonds and interest on
<br />all bonds, and deficiencies and defaults of prior
<br />years, and shall make ample provision for the pay-
<br />ment thereof. In case the proceeds of such levies
<br />and assessments made under the provisions of this
<br />article together with other revenues of the district,
<br />are not sufficient to punctually pay the annual in-
<br />stallments on its contract or bonds, and interest
<br />thereon, and to pay defaults and deficiencies, then
<br />the board sholl make such additional levies of taxes
<br />or assessments as may be necessary for such pur-
<br />poses and notwithsfanding any limitations by con-
<br />tract, order, tax lien, or otherwise, such taxes and
<br />assessments shall be made and continue until the
<br />indebtedness of the district shall be fully paid; pro-
<br />vided, that the amount of such additional levies of
<br />taxes under Class A shall not in anyone year ex-
<br />ceed an amount that would be raised by a .Ievy of
<br />one-half mill against the assessed value of such
<br />property as.fixed for general tax purposes; provided,
<br />that such levies for defaults and deficiencies shall
<br />not at any time be so made as to impose upon Class
<br />A payments in excess of twenty-five percent of the
<br />anticipated revenue from all sources to be raised for
<br />the specific purpose of payment of existing defaults
<br />and deficiencies; and provided, further, that in mak-
<br />ing such additional levies or assessments, the board
<br />shall toke into account all sources of revenue and
<br />equitably distribute the burden of such defaults and
<br />deficiencies according to the uses and benefits as
<br />provided in this article.
<br />
<br />9
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