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<br /> <br />,I r":.... 0- <br />J.vl.(: <br /> <br />.146 <br /> <br />METHOPOLlTAN WATEH DI"TKICT <br /> <br />tax sufficient to pay the interest on such indebtedness as it falls due and to <br />constitute a sinkin1!: fund for the payment (If the pI'incipal thereof on or before <br />maturity, Such action shall be speedil)' tried and judgment rendered declaring <br />such bonds to be valid or invalid, and declaring thE! provision fur the collection <br />of an annual tax for said purposes, to be sufficiellt or insufficient. Either party <br />may hav(~ the right to appeal to the Supreme Court at any time within thirty <br />(30) days after the rendition of such judgment, whidl appeal mU>it be heard <br />and determined within three months from the time of taking' slich ltppeal. After <br />the expiration of ninety (90) days from the date of the election authorizing the <br />i~suRnce of bonds, no action may be brought to contest or question the validity <br />of said bonds and proceedinKs in relation thereto or the sufficiency of the IJl'()- <br />vision for the collection of an annual tax sufficient to pa,\; the intel'est on .'>uch <br />indebtedness as it falls due and to constitute a sinking fund fol' the payment of <br />the principal thereof on or before maturity. If there be more thal1 one action <br />or proc.eeding involving the validity of any of such bonds. or the sufficiency of <br />the provi~ion for the collection of an annual t.ax suffici(lnt for thl~ said purposes, <br />they shall be consolidated and tried together, The court hearing any proceeding <br />or action inquiring into the regularity, hlgality or cOlTectness of the proceed- <br />ings leading' up to th~ issuance of bonds 0" the validity of such bonds Gr the <br />sufficiEmcy of such provi~ion for the collection of an annual tax, must disregard <br />any error, irregularity or omission which does not atfE!ct the substantial I'ights <br />of the parties to said action or proceeding, The rules of pleadiJlg and practice <br />provided by the Code of Civil Procedure, which are 110t incunsistent with the <br />provisions of this act, a.re applicable to all actjon~ or proceedings herein provided <br />for. The motion for a new trial of anv such action or proceeding- must be heard <br />and determined within ten (10) days' from the filing of the notice of intention. <br />The costs nn any proceeding or action herein provided for may be allowed and <br />apportioned between the parties or taxed to the lo~ing party, ill the discretion <br />of the court. <br />(j) The board of directors, so far as practicable, shall fix such rate or rates <br />for water as will result in revenue which will pay the operating expenses of <br />the district, providE~ for repairs and maintenance, and provide for' the payment <br />of the interest and principal of the bonded debt. If, howf-'vcr, from any cau~e, <br />the revenuE"S of the di~trict shall be inadequate to pay the inten.'st or principal <br />of any bonded debt as the same becomes due, the board of directors shall, at the <br />time of fixing the tax levy and in the manner fIJI' such ta.x le\'y provided, lE"v'y <br />and collect annually until said bonds are paid or until there shall be a sum in <br />the treasury of the district set apart for that purpose sufficient to meet all sums <br />coming due for principal and intere~t on such bonds, a tax sufficient to pay the <br />annual interest on such bonds, or such part th~reof as shall not be met from <br />re\"enUes of the district, and also sufficient to pay such part of the principal of <br />such bonds as shall become due before the time when money will be available <br />from the next general tax levy, 01' such portion thereuf as ~hallllot be met from <br />revenues of the district.: provided, however. that if the mutUl'ity of the indebt- <br />edness created by the issue of bonds be made to begin more than om~ Yt'al' after <br />the date of the issuance of such bonds, such tax shall be lc\'ied and collected at. <br />the time and in the manner aforesaid annually sufficient when added to l'eVt~nUes <br />of the district available for that purpose to pay the interest on such indebtedness <br />as it falls due and also to constitute, together with the revel1ues of the district <br />available for su~h purposc, a sinking" fund for the payment of the principal of <br />such bonds on or before maturity. The taxes herein rf:!quired to be levied and <br />c')lIected ~hal1 be in addition to all other taxE~~ leviEld for district purposes and <br />shall b~ ceJllected at the time and in the same manner as other di~trict taxes arE:' <br />collectl!d and shaH be used for no purpose other than the payment of such bonds <br />and accruing interest. <br /> <br />. <br />I <br /> <br />i <br />j <br />