Section 5-17-37 - Transfers to reserve and replacement fund for plant replacement or emergency--Rebuilding of fund. - South Dakota Statutes

5-17-37. Transfers to reserve and replacement fund for plant replacement or emergency--Rebuilding of fund. Commencing in fiscal year 1979, the State Cement Plant Commission shall transfer to the cement plant reserve and replacement fund, two million dollars annually through fiscal year 1983, which funds shall be held in reserve for replacement of existing plant or to be used in the event of an emergency as declared by resolution of the commission. In the latter event, the commission shall replace such funds in two million dollar installments in subsequent years until the reserve and replacement fund has been rebuilt to an amount not to exceed ten million dollars.

Source: SL 1966, ch 166, §§ 5, 6; SL 1977, ch 50.