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Iowa Code Title IX. Local Government [Chs. 331-420] § 357.21. Substance of bonds

Current as of January 01, 2024 | Updated by Findlaw Staff

1. Each of the bonds issued under section 357.20 shall meet all of the following requirements:

a. The bond shall be numbered.

b. The bond shall have printed upon its face that it is a benefited water district bond, stating the county and the number of the district for which it is issued, and the date of maturity.

c. The bond shall state that it is issued pursuant to a resolution of the board of supervisors, and that it is to be paid for only from a special assessment and taxes levied as provided under section 357.22 for that purpose within the district for which the bond is issued.

2. The provisions of sections 468.76 and 468.78 shall govern the issuance of these bonds except that the contractor will not be paid anything on the work until its completion and final acceptance.

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Cite this article: FindLaw.com - Iowa Code Title IX. Local Government [Chs. 331-420] § 357.21. Substance of bonds - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-ix-local-government-chs-331-420/ia-code-sect-357-21/

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