Section 46A-7A-102 - Bonds issued to landowners as compensation--Vote required--Payable by credits for tollsand charges--Transfer restricted. - South Dakota Statutes

46A-7A-102. Bonds issued to landowners as compensation--Vote required--Payable by credits for tolls and charges--Transfer restricted. Upon a board resolution approved by at least three-quarters of the directors, the board may issue bonds to any landowner of the district as compensation to the landowner for services by the landowner which had prior approval and consent of the board or which were undertaken by the landowner at the request of the board. Such services shall include dedication of lands or permanent easements thereto for mitigation of impacts on wildlife habitat, deeding of land or rights-of-ways to the district, and expenditures by the landowner in connection with environmental preservation and improvement. Such bonds to landowners shall be payable solely from credits to the landowner holding the land against future tolls and charges by the district and are transferable only to a new owner or inheritor of the affected land.

Source: SL 1985, ch 360, § 102.