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