49-40-4 Right of municipality to purchase portion of assets within boundaries.
Right of municipality to purchase portion of assets within boundaries.
any consumers district shall, as provided in chapters 49-35 to 49-40, inclusive, acquire, by purchase,
lease or otherwise, any electric distribution system, or any part or parts thereof, situated within or
partly within any municipality, if any part of such system be within such municipality, such
acquisition shall be upon the condition that such municipality may purchase, and such district shall
be required to sell to such municipality such electric distribution system, situated within or partly
within such municipality, but not within the corporate limits of any other municipality, by paying
to such district such sum as is fair and reasonable, including reasonable severance damages.
Source: SL 1950 (SS), ch 17, § 65; SDC Supp 1960, § 52.1764.