Any such resolution or agreement may provide that all or any part of the revenues of the water user district shall be paid into a special fund and may set forth all the terms and conditions on which such special fund is to be collected, held, and disposed of, whether partly or wholly for the benefit of the holders of such district obligations. Provision may be made that such special fund shall be held by depositories designated or described in such resolution or agreement.
S.D. Codified Laws § 46A-9-59
Revenues of district--Payment into special fund--Collection and disposition of special fund, terms, and conditions
Source: SL 1939, ch 291, § 10; SDC Supp 1960, § 61.1310; SDCL, § 46-16-57.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.