Section 46A-5-20 - Contract with United States--Bonds of district not deposited as security--Levy orassessment of amount by board of directors to meet accrued yearly payments. - South Dakota Statutes

46A-5-20. Contract with United States--Bonds of district not deposited as security--Levy or assessment of amount by board of directors to meet accrued yearly payments. If bonds of the district are not deposited with the United States pursuant to § 46A-5-19, it shall be the duty of the board of directors to 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.

Source: SDC 1939, § 61.0810; SL 1953, ch 482; SDCL, § 46-13-20.