At such sale no person, company of persons, association or incorporated company, owning and holding any lien, shall bid in or purchase any land or water right at a greater price than the amount due on said deferred payment for said water right and land, and the costs incurred in making the sale of said land and water right.

[(42-2030) 1895, p. 215, ch. 2, part of sec. 20; reen. 1899, p. 282, ch. 2, sec. 20; reen. R.C., sec. 1629; reen. C.L., sec. 1629f; C.S., sec. 3023; I.C.A., sec. 41-1730.]