Sections 46A-9-59, 46A-9-60 - Revenues of district--Payment into special fund--Collection and disposition of special fund, terms, and conditions. Agreement between directors and holders of district ob - South Dakota Statutes

46A-9-59. Revenues of district--Payment into special fund--Collection and disposition of special fund, terms, and conditions. Any such resolution or agreement may provide that all or any part of the revenues of the water user district shall be paid into a special fund and may set forth all the terms and conditions on which such special fund is to be collected, held, and disposed of, whether partly or wholly for the benefit of the holders of such district obligations. Provision may be made that such special fund shall be held by depositories designated or described in such resolution or agreement.

Source: SL 1939, ch 291, § 10; SDC Supp 1960, § 61.1310; SDCL, § 46-16-57.