Section 46A-7-38 - Special revenue fund for purchase of tax certificates and titles--Purpose--Creation byresolution of board of directors--Composition of fund--Use for payment of taxes, interest,and p - South Dakota Statutes

46A-7-38. Special revenue fund for purchase of tax certificates and titles--Purpose--Creation by resolution of board of directors--Composition of fund--Use for payment of taxes, interest, and penalties. For the purpose of paying such taxes, assessments, interest, and penalties, the directors shall have the power and authority to create by resolution a fund to be known and designated as the "special revenue fund for the purchase of tax certificates and titles," and to provide funds for such special revenue fund by levy, bond issue, or otherwise, and the district may pay such taxes, assessments, interest, and penalties by issuing a warrant to the county treasurer against such fund, if there shall be sufficient money in such fund to pay the same in full upon demand.

Source: SDC 1939, § 61.0912; SDCL, § 46-15-38.