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<br />. <br /> <br />0027;)7 <br /> <br />. <br /> <br />Analysis - p.4 <br /> <br />/ <br /> <br />of indebtedness. Provides that such indebtedness shall not <br />exceed one-half of one percent of the assessed valuation of <br />taxable property within the district and the term of such <br />indebtedness shall not exceed 12 years and that evidenoe of <br />indebtedness shall be callable at any interest date not <br />earlier ,than one year from date of issue. (Sec. 9) <br /> <br />Authorizes the refunding of such indebtedness, , <br />but prohibits the extension of the maturity date or dates <br />thereof and the increase of the interest rate and the <br />aggregate indebtedness. (Sec. 9)' <br /> <br />Authorizes the levy of annual taxes to pay the <br />interest or principal of any such indebtedness when due <br />if the district revenues are inadequate. (Sec. 9) <br /> <br />. <br /> <br />Short Term Indebtedness for Additional Works. Authorizell <br />the board, whenever it determines that increasing demands <br />for wat,er or hydroelectric power require the illllllediate <br />construction or installation of additional works or <br />facilities to enable the district to meet such demands, <br />and that the cost of constructing or installing such <br />additional works or facilities will be too great to be <br />paid out of the ordinary annual district income and revenue, <br />and that public interest requires the incurring of indebted. <br />ness for such purpose, to incur such indebtedness and issue <br />and sell notes or other evidence of indebtedness. Provides <br />that such indebtedness shall not exceed one percen~ of the <br />assessed valuation of taxable property within the district <br />and the term shall not exceed 12 years, and the notes or <br />other evidence of indebtedness shall be tlayable in aub. <br />stantially equal annual parts. (Sec. 10) <br /> <br />Makes evidence of Such indebtedness callable <br />and authorizes the refunding thereof, but prohibits the <br />extension of the maturity date or dates and the lncr.... <br />of the interest rate and the aggresate 1ndebt.dn.... <br />(Sec. 10) <br /> <br />Authorizes the levy of annual taxes to pay the <br />interest or principal of any such 1ndebtednea. wh.n du. <br />if district income and revenue are inadequate. (Sec. 10) <br />