Section 9-43-1 - Cost of improvement or part paid by municipality from municipal funds orgeneral obligation bonds. - South Dakota Statutes

9-43-1. Cost of improvement or part paid by municipality from municipal funds or general obligation bonds. The entire cost of a public improvement or any part thereof may be advanced, and the portion of such cost to be paid by the municipality either as the public assumption of a part of the cost, the payment of an assessment levied against property owned by the municipality or the United States, or because of the municipality being required to purchase any past due unpaid special improvement bonds issued in accordance with the provisions of § 9-43-62, may be paid out of the funds of the municipality not otherwise appropriated; or the governing body may issue general obligation bonds for such purposes to an amount not exceeding the limitations upon net indebtedness for the purpose of such improvement as prescribed in S.D. Const., Art. XIII, § 4, after authorization by the voters and in the form and manner provided for other general obligation bonds.

Source: SL 1929, ch 199; SDC 1939, § 45.2115; SL 1949, ch 189, § 7.