§ 36-7-320 — Duty to contract; contents; withdrawal of land and filing of bond necessary

Upon the withdrawal of the land by the department of the
interior, it shall be the duty of the board to enter into a
contract with the parties submitting the proposal, which
contract shall contain complete specifications of the location,
dimensions, character and estimated cost of the proposed ditch,
canal or other irrigation work; the price and terms per acre at
which such works and perpetual water rights shall be sold to
settlers; the price and terms upon which the state is to dispose
of the land to settlers; provided, that such price and terms for
irrigation works, water rights and for lands to be disposed of
by the state to settlers shall, in all cases, be reasonable and
just. This contract shall not be entered into on the part of the
state until the withdrawal of these lands by the department of
the interior and the filing of a satisfactory bond on the part
of the proposed contractor for irrigation works, which bond
shall be in a penal sum equal to five percent (5%) of the
estimated cost of the works, and to be conditioned for the
faithful performance of the provisions of the contract with the
state.