For the purpose of obtaining the constructive consent of the unknown holders of the evidences of indebtedness, and of holders who have not given their consent in writing, the board of directors shall file in the circuit court of the county in which the office of the irrigation district is located a petition in rem, verified by the oath of the president or secretary of the district. The petition shall set forth the plan adopted by the district for retiring or refunding the evidences of indebtedness. The petition shall also recite what percentage of the amount of the evidences of indebtedness is held by the holders of the evidences of indebtedness who have filed their written consent to the proposed plan. The percentage shall be not less than 80 percent of the amount of the evidences of indebtedness. The petition shall further set forth what steps have been taken to attain the consent of all nonconsenting holders. [Formerly 545.282]
Section: Previous 545.622 545.624 545.625 545.626 545.628 545.629 545.631 545.633 545.635 545.637 545.639 545.643 545.645 545.647 545.649 NextLast modified: August 7, 2008