South Dakota Codified Laws 46A-9-41. Acquisition, management, use, and operation of works and property–Disposition of works
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The water user district may own, construct, reconstruct, improve, purchase, condemn, lease, receive by gift, or otherwise acquire, hold, extend, manage, use, or operate any works and any kind of property, personal or real, necessary, useful, or incident to such acquisition, extension, management, use, and operation. The district may sell, mortgage, alienate, or otherwise dispose of the works or any part of the works only under the terms and subject to the conditions provided in §§ 46A-9-69 to 46A-9-72, inclusive.
Terms Used In South Dakota Codified Laws 46A-9-41
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1939, ch 291, § 7; SDC Supp 1960, § 61.1307 (2); SDCL § 46-16-40; SL 2011, ch 165, § 479.