South Dakota Codified Laws 9-22-14. Tax levy to retire bonds held by debt service fund
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If a municipal debt service fund is invested in other bonds of such municipality, there shall be a levy of a tax upon the taxable property of such municipality of sufficient amount to pay the interest and also the principal thereof when due, and such tax when collected shall be returned to the respective fund for that purpose.
Terms Used In South Dakota Codified Laws 9-22-14
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1915, ch 277; RC 1919, § 6999; SL 1923, ch 264; SL 1927, ch 189; SL 1933, ch 164; SDC 1939, § 45.2310; SL 1941, ch 200; SL 1949, ch 190, § 5.