Section 46A-7A-116 - Election on levy of capital benefit assessment. - South Dakota Statutes

46A-7A-116. Election on levy of capital benefit assessment. After the secretary files the certificate or, if objections are raised, after the board approves the roll as finally fixed, the board shall call a district election to submit to the electors the question whether or not the board shall be authorized to levy a capital benefit assessment in accordance with the roll as certified and in accordance with the limitations set forth in § 46A-7A-104 to utilize the benefit assessment as security for and as a source of funds for payments for bonds to be issued to fund the project, or to repay loans to fund the project.

Source: SL 1985, ch 360, § 116.