Performance bond required of purchaser or lessee of redevelopment property

The commission may in its discretion require a purchaser or a lessee to furnish a performance bond as security for its fulfillment of the agreement with the commission. The performance bond shall have such surety and be in such form and amount as the commission may approve. Source: SL 1950 (SS), ch 13 , § 19, subdiv 5; SDC Supp 1960, § 45.3619 (5).