49-40-2. Hypothecation of assets permitted. If, in order to borrow money, it shall become necessary that a consumers power district mortgage, or otherwise hypothecate, any of its said property or assets to secure the payment of a loan or loans made to it, such district is hereby authorized and empowered to do so.
Source: SL 1950 (SS), ch 17, § 59; SDC Supp 1960, § 52.1758; SL 1975, ch 288.
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