If bonds and other obligations of irrigation districts are issued, the bonds and obligations are subject to redemption by the board of directors of any irrigation district, as soon as the property and franchise of the district are sold after the district has elected to dissolve as a district, as provided in this chapter.
S.D. Codified Laws § 46A-4-91
Bonds and obligations of district--Redemption after sale of property on dissolution of district
Source: SDC 1939, § 61.0848; SDCL § 46-12-86; SL 2011, ch 165, § 374.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.