A water development district board of directors may levy taxes and special assessments, as provided in chapters 46A-3A to 46A-3E, inclusive, to cover obligations contained in contracts with:

1. (1) The federal government;
2. (2) This state; or
3. (3) Any other public or private entity. With the exception of special assessments, the board may not obligate any monies that are not to be collected or on hand during the fiscal year in which the obligation is to be incurred.

Source: SL 1984 (SS), ch 1 , § 52; SL 2025, ch 186 , § 59.