46A-4-87. Raising of money to pay debts--Valuation of property by appraisers--Appointment--Report.
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/sd/title-46/chapter-46-4/46a-4-87A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purpose of raising money to pay any indebtedness of the district, the board of directors may sell and dispose of the canal, franchises, and other property belonging to the district at not less than a valuation to be fixed by a board of three appraisers. One member of the board of appraisers shall be appointed by the board of directors of the district and one shall be appointed by the board of county commissioners of the county in which the district was originally organized.
The two appraisers shall elect a third. The board of appraisers shall be sworn by any officer authorized by law to administer oaths and who has an official seal, to appraise the canal, franchises, and other property of the district at its cash value. As soon as practicable, the appraisers shall make an appraisement and shall report in writing their appraisement of all the property owned by the district to the board of directors.