South Dakota Statutes
§ 46A-4-92 — Payment of outstanding obligations with proceeds of property sales--Prices paid.
South Dakota·Title 46A WATER MANAGEMENT·Ch. 46A-3 ORGANIZATION, BOUNDARIES AND DISSOLUTION OF IRRIGATION DISTRICTS
After a sale of the property and franchises of the district, the board of directors shall, with the amount realized from the sale, together with other funds of the district, make settlement, payment, and redemption, if possible, of all outstanding bonded and other indebtedness of the district. However, in no case may the district pay more than the par value of the outstanding bonds with interest up to the time of payment plus any redemption premium agreed upon by the district at the time the outstanding bonds are issued.
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South Dakota § 46A-4-92 (Payment of outstanding obligations with proceeds of property sales--Prices paid.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SDC 1939, § 61.0848; SDCL § 46-12-87; SL 1976, ch 277, § 6; SL 2011, ch 165, § 375.
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.