Section 46A-6-38 - Determination of legality of proceedings for issue and sale of bonds--Statementof facts by board of directors, preparation, contents, certification--Statementand bonds presented to
46A-6-38. Determination of legality of proceedings for issue and sale of bonds--Statement of facts by board of directors, preparation, contents, certification--Statement and bonds presented to department--Recording of statement and registration of bonds. If the court shall determine the proceedings for the organization of the district legal and valid and the proceedings for the voting and issuing of the bonds legal and valid, the board of directors shall then proceed to prepare a written statement, beginning with the filing of the petition for the organization of the district and including all subsequent proceedings for the organization of the district, the voting and issuing of such bonds or other objects of such petition, and ending with the decree of the court finding the proceedings for the organization of the district and subsequent proceedings legal and valid; and when the proceedings are for the confirmation of a bond issue, shall present such written statement and the bonds to the Department of Water and Natural Resources and such written statement shall be certified under oath by the board of directors of the district, and the Department of Water and Natural Resources shall record the statement and register the bonds in its office, and no such bonds shall be issued or be valid unless they shall be so registered and have endorsed thereon a certificate of the Department of Water and Natural Resources showing that such bonds are issued pursuant to law, the date filed in the office of such department being the basis of such certificate.
Source: SDC 1939, § 61.0845; SDCL, § 46-14-37; SL 1977, ch 366, § 7.