46A-11-27. Additional bonds, issuance--Cost of proposed drainage exceeding estimated cost--New apportionment of assessments--Certification of assessments finally fixed to county treasurer--Money collected by county treasurer on assessments to be paid to bo...
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/sd/title-46/chapter-46-11/46a-11-27A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the cost of a proposed project exceeds the preconstruction estimate, a new apportionment of assessments may be made and additional bonds issued and sold in like manner. If the proceeds of the assessments are insufficient to pay the principal and interest of bonds sold pursuant to this chapter, a new apportionment of assessment may be made to meet the shortage in funding. If assessments for a drainage project are finally fixed, they shall be certified to the county treasurer by the county auditor and money collected shall be received by the county treasurer to be paid to holders of bonds as the principal and interest become due.