Application for release of first mortgages owned by the state of Idaho shall be filed with the director of the department of finance of the state of Idaho and shall be in such form and shall contain such information as the state board of land commissioners shall by rule provide. Every application shall contain the following information:
(a)  The name of the irrigation or drainage district, its general location and its officers.
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Terms Used In Idaho Code 43-2002

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: A promise to tell the truth.
  • Property: includes both real and personal property. See Idaho Code 73-114
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(b)  The total acreage in the district.
(c)  The total outstanding obligations of the district including the following:
(1)  Bonds.
(2)  Warrants.
(3)  Interest on bond.
(4)  Interest on warrants.
(5)  Interest on bond coupons.
(6)  Obligations outstanding for which warrants have not been issued.
(d)  The assessment per acre for three (3) years prior to the date of the application itemized as follows:
(1)  Current expense.
(2)  Warrant redemption.
(3)  Bond interest and sinking fund.
(e)  The complete plan for refinancing and dissolution of the district.
(f)  A description and the acreage of the property covered by the mortgage for which application for release is made, and a true and correct valuation thereof.
(g)  The amount due on the mortgage sought to be released.
(h)  The total amount and amount per acre required to retire the outstanding indebtedness of the district in which the land is situated.
(i)  The term for which said prior lien shall extend, the annual rate of interest and the basis for retirement.
(j)  Any other liens or encumbrances against said property and the amount of each.
(k)  The name of the applicant, his residence or place of business (if a corporation, its officers and managing agent).
(l)  Such other information as the board shall desire.
(m)  Said application shall be verified by the oath of the applicant.