The drainage commissioners of any county in which a drainage district has been organized and who have sold bonds for 80% of the assessment on the lands in such district, and who have provided for the collection of the remaining twenty per cent of the assessment on the lands in such district in cash within not less than four months, are authorized to issue and sell the bonds, notes, or other objects of indebtedness of the drainage district for the twenty per cent, or any part thereof, which was provided to have been paid in cash and which has not yet been paid.
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