Section 46A-10A-120 - Issuance of improvement certificates and drainage bonds. - South Dakota Statutes

46A-10A-120. Issuance of improvement certificates and drainage bonds. The board of trustees of any district may issue improvement certificates and drainage bonds under the same conditions as is provided by chapter 46A-11 for issuance by the board of county commissioners, except that in case of the issue of drainage bonds, the bonds shall be approved by a simple majority of the eligible landowners voting in a special election held by the board of trustees in conjunction with the district's annual election. The approval shall be printed upon the bonds before they are negotiated.

Source: SL 1997, ch 256, § 23.