At any time during the refinancing of the bonded indebtedness of an irrigation district, the board of directors thereof by resolution may exclude any land from such district, provided such exclusion is known to the purchaser of the district's refunding bonds.L. 35: p. 665, § 2. CSA: C. 90, § 496. CRS 53: § 149-3-19. C.R.S. 1963: § 150-3-19.