Section 46A-6-24 - Interest on unpaid coupons--Majority vote of electors--Adoption declared byboard--Levy for capital projects fund--Stamping of coupons by countytreasurer.
46A-6-24. Interest on unpaid coupons--Majority vote of electors--Adoption declared by board--Levy for capital projects fund--Stamping of coupons by county treasurer. If a majority of the ballots cast on such proposition shall be in favor thereof, the board of directors shall declare the same adopted and the funds to pay such interest shall be estimated and included in the levy for the capital projects fund of such irrigation district as provided by law. Thereafter, upon the presentation of any bond with coupons attached, or any detached coupons of such bonds upon which interest is payable under the provisions of this chapter, the treasurer shall stamp or write on such coupons: Bears interest at ____ percent per annum from the date of registration for payment (or) from date of election to pay interest (if previously registered for payment).
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County Treasurer.
Payment of such coupon shall include the payment of the interest accruing under this chapter.
Source: SDC 1939, § 61.0901; SDCL, § 46-14-23.