46A-9-72. Mortgage or trust deed to secure payment of borrowed money--Foreclosure upon default and appointment of receiver.
If any water user district created under this chapter shall execute and deliver a mortgage or trust deed to secure the payment of any moneys borrowed by it for the purposes herein authorized, it may be provided in such mortgage or trust deed that the same may be foreclosed upon default and that a receiver may be appointed by any court of competent jurisdiction with such authority as may be provided for in such mortgage or trust deed.
Source: SL 1939, ch 291, §15; SDC Supp 1960, §61.1315 (2); SDCL, §46-16-70.