73-13-10: [Execution and acknowledgment of security for loan.]

Loans hereunder may be made and secured by notes, debentures, mortgages or pledges, or other form of obligation as shall by its board of directors be deemed for the best interest of such district and the board of directors of such district are hereby authorized and empowered to make, execute, acknowledge and deliver any and all such notes, bonds, mortgages, pledges, debentures or other form of obligation in the name of, and for and upon behalf of such district.