48-3249. Abrogation of agreement by failure to
deposit fifty-one per cent of bonds


If the bonds of the district deposited with the state treasurer at the end of two
years from the date of the adoption of the bondholders' agreement are less than fifty-one
per cent of the principal amount of all bonds of the district then outstanding, the
bondholders' agreement shall be abrogated and the committee discharged, and the state
treasurer shall return any bonds theretofore deposited with him to the respective owners
thereof.