The board of directors shall then levy an assessment against the acreage of the district sufficient to raise the annual interest on the outstanding bonds, to pay the principal coming due on the outstanding bonds prior to the next levy, and to make all payments due or to become due the ensuing year to the United States under any contract between the district and the United States, which, when collected shall be called the “bond and United States contract fund of irrigation district.”

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Source: SDC 1939, § 61.0907; SL 1949, ch 435, § 3; SDCL, § 46-15-10; SL 1976, ch 277, § 17.