Sections 9-43-63, 9-43-64 - Special assessment funds to pay cost of improvements--Payments into fund--Transfer of unexpended balance. Special assessment bonds or certificates in anticipation of collec - South Dakota Statutes

9-43-63. Special assessment funds to pay cost of improvements--Payments into fund--Transfer of unexpended balance. All amounts derived from special assessments for all improvements shall be receipted into the accountability of the municipality. The proceeds of the sale of bonds issued pursuant to § 9-43-62 shall be placed into a fund and used only for the payment of the cost of the improvements. No moneys may be transferred out of the fund until all obligations which are or may be charged against it have been discharged. Thereafter the governing body may transfer any unexpended and unobligated balance to the general fund.

Source: SL 1905, ch 155; RC 1919, § 6409; SL 1921, ch 319; SDC 1939, § 45.2114; SL 1949, ch 189, § 6; SL 1953, ch 264; SL 1974, ch 79; SL 1988, ch 81, § 1.