Section 46A-14-55 - Referendum on financing arrangement for improvement--Necessary numberof votes in favor of proposal. - South Dakota Statutes

46A-14-55. Referendum on financing arrangement for improvement--Necessary number of votes in favor of proposal. No construction or related commitments requiring district payments shall be entered into, no taxes or assessments levied, no bonds issued or other financing arrangement made except as provided in § 46A-14-34, unless and until the managers shall have initiated adequate hearings to clearly demonstrate the works proposed for construction and the benefits to accrue therefrom, shall have conducted a referendum in accordance with this chapter and a favorable vote, consisting of sixty percent of the landowners voting shall have specified approval of such tax levy, bond issue, or other permissible financing arrangement.

Source: SL 1957, ch 492, § 23; SL 1959, ch 452, § 18; SDC Supp 1960, § 61.1523 (3); SDCL, § 46-24-54.