Any irrigation district organized under the laws of this state for irrigation or drainage purposes may enter into contracts with the United States whereby the bonds of the district are guaranteed by the United States, or financial credit is extended by the United States to the district, for the sale, purchase or use of any canal, ditch, reservoir, right-of-way, irrigation or drainage system, or other property owned or to be acquired for the use of the district.

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Source: SDC 1939, § 61.0846; SDCL § 46-14-28; SL 2011, ch 165, § 402.