South Dakota Statutes
§ 46A-11-24 — Drainage bonds--Execution--Purpose of issue--Negotiation--Recital--Charge against lands.
Bonds issued pursuant to § 46A-11-23 shall be signed by the chairman of the board and the auditor, shall be issued for the benefit of the particular drainage district, and shall be numbered, recorded, and indexed in the office of the county auditor. The board shall negotiate the bonds at not less than their par value and the proceeds and any premium received on the bonds shall be credited to the fund of the particular drainage project. The bonds shall state that they are issued pursuant to this chapter and that they are to be paid out of funds to be obtained as provided in this chapter. The bonds shall be a charge against the lands for which benefit the bonds are issued until the principal and interest thereon have been fully paid.
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South Dakota § 46A-11-24 (Drainage bonds--Execution--Purpose of issue--Negotiation--Recital--Charge against lands.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SDC 1939, § 61.1024; SDCL, § 46-21-24; SL 1985, ch 362, § 121.
Nearby Sections
15
§ 46A-1-1
Legislative findings and policy.§ 46A-1-100
Definition of terms.§ 46A-1-102
Disbursement and administration of money from subfunds--Rules--Application of provisions.§ 46A-1-103
Promulgation of rules by board--Content.§ 46A-1-13
Presentation of cost data to Governor and Legislature--Requests for financing authorization.§ 46A-1-13.10
Lewis and Clark Rural Water System authorized.§ 46A-1-13.11
Southern Black Hills Water System authorized.§ 46A-1-13.12
Belle Fourche irrigation upgrade project authorized.