46A-11-11. Agreement of contractors to take assessment certificates or warrants for services--Assessment for entire balance of cost of construction--Lien of assessment--Enforcement--Sale of assessment certificates, purpose.
If project contractors agree to take assessment certificates or warrants for their services, assessments need not be made until the completion of the work. At that time an assessment shall be made for the entire balance of cost of construction, including services of the board, surveyors and assistants, plans and profiles, publication and filing, other fees, interest on bonds, and all expenses that contribute to establishment and construction of the project. Notice of the assessment shall be given by the board in the same manner as required for any other assessment under this chapter. Such assessment and any certificates issued thereon shall provide perpetual liens upon tracts assessed, shall be interest-bearing, and shall be enforceable in the same manner as any other assessment and certificates. The board may sell such assessment certificates at not less than par value to raise funds to defray the cost of project establishment and construction.
Source: SDC 1939, §61.1011; SL 1985, ch 362, §108.
Structure South Dakota Codified Laws
Chapter 11 - Drainage Assessments And Bonds
Section 46A-11-3 - Matters considered in fixing and equalizing benefits.
Section 46A-11-4 - Hearing on equalization of benefits--Determination by board--Revision procedure.
Section 46A-11-5 - Assessment by board--Cost of establishment.
Section 46A-11-6 - Assessment--Certified copy filed with county treasurer--Notice.
Section 46A-11-9 - Assessments for further costs of construction.
Section 46A-11-12 - Assessments paid to county treasurer--Distribution.
Section 46A-11-18 - Payment of drainage assessments against townships--Unorganized townships.
Section 46A-11-19 - Assessments for drainage--Enforcement by county treasurer, sale of property.
Section 46A-11-25 - Drainage bonds--County not liable for payment--Payment from assessments.
Section 46A-11-28 - Separate accounts for drainage projects.
Section 46A-11-37 - Abandonment and abolition of drainage--Assessments and liens not affected.