The lands authorized to be sold under the terms of Sections 51-33-49 through 51-33-57 may be sold by the commissioners of the district acquiring the same on such terms and conditions as the board of commissioners of the drainage district selling said lands may designate for the sale thereof in an order to be duly adopted by them and spread on their minutes; however, the said lands shall not be sold for less than the amount set out under Section 51-33-51, and at least one third of the purchase price of said lands shall be paid in cash to the district on the day that the deed is executed and delivered by the commissioners of said district to the purchaser thereof. The board of commissioners of any drainage district selling any lands which are authorized to be sold under the terms of said sections may accept at par value as payment or as part payment of the purchase price thereof any outstanding past-due bonds or coupons of said district selling said lands.Codes, 1942, § 4654; Laws, 1936, ch. 297.
Mississippi Legal Code