Section 46A-7A-54.1 - Deferral of water project study loan payment pending approval of contract with UnitedStates by electorate--Inclusion of repayment of study loan in approval submitted. - South Dakota Statutes

46A-7A-54.1. Deferral of water project study loan payment pending approval of contract with United States by electorate--Inclusion of repayment of study loan in approval submitted. If the district has not executed a contract with the United States for the purpose of constructing an irrigation project by the due date of any water project study loan made pursuant to chapter 46A-1 to the district or to a nonprofit corporation located within the district for the purpose of studying and advancing an irrigation project within the district or assumed by the district pursuant to § 46A-7A-48, the water project study loan payment shall be deferred until the electorate of the district approves a contract with the United States as provided for in § 46A-7A-54. Repayment of such study loan shall be included in the contract approval submitted to the electorate. Nothing in this section may be construed to relieve the district of any of its obligations under the provisions of chapter 46A-7A.

Source: SL 1986, ch 377, § 9.