South Dakota Codified Laws 46A-5-20. District bonds not deposited as security for federal contract
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If bonds of the district are not deposited with the United States pursuant to § 46A-5-19, the board of directors shall include as part of any levy or assessment provided for in this title an amount sufficient to meet each year all payments accruing under the terms of any contract made pursuant to § 46A-5-18.
Terms Used In South Dakota Codified Laws 46A-5-20
- Contract: A legal written agreement that becomes binding when signed.
Source: SDC 1939, § 61.0810; SL 1953, ch 482; SDCL § 46-13-20; SL 2011, ch 165, § 385.