Iowa Code Title XI. Natural Resources [Chs. 455-485] § 468.69. Bonds received for assessments

Bonds issued for the cost of construction, maintenance, or repair of any drainage or levee district improvements, or for the refunding of any obligation of such district may be acquired by any taxpayer or group of taxpayers of such district and applied at their face value in the order of their priority, if any priority exists between bonds of the same issue, upon the payment of the delinquent or future assessments levied against the property of such taxpayers to pay off the bonds so acquired. The interest coupons attached to such bonds may likewise be applied at their face value to the payment of assessments for interest accounts, delinquent or future.