Find Laws Find Lawyers Free Legal Forms USA State Laws

SOUTH DAKOTA STATUTES AND CODES

Section 9-51-4 - Use of moneys in parking lot and area fund--Retirement of bonds as proper purpose--Use for street construction and maintenance.

9-51-4. Use of moneys in parking lot and area fund--Retirement of bonds as proper purpose--Use for street construction and maintenance. Moneys in the parking lot and area fund referred to in § 9-51-2 shall be disbursed only for the purpose of acquiring parking lots and areas, and for surfacing or otherwise improving said lots or areas making them suitable for public parking, provided that the retirement of revenue bonds or general obligation bonds issued for the financing of the purchase of parking lots and areas shall be considered as an acquisition of such properties within the meaning of this section.
When funds have accumulated in the parking lot and area fund, under the provisions of § 9-51-2, and it shall be determined by a majority vote of the voters of the municipality, voting at any regular or special election, called for the purpose by the governing body, that such funds, or any portion thereof, are no longer needed for the purposes declared in this section, the governing body of such municipality may then use such funds for the construction or maintenance of the city streets.

Source: SL 1951, ch 244, § 2; SL 1953, ch 252, §§ 1, 2; SDC Supp 1960, § 45.0201-1 (10); SL 1961, ch 243; SL 1992, ch 60, § 2.

South Dakota Forms by Issue

South Dakota Court Forms
> Personal Protection
South Dakota Divorce Forms
South Dakota Family Forms
South Dakota Name Change Forms
South Dakota Parental Notification Forms

South Dakota Law

South Dakota State Laws
    > South Dakota Child Support
    > South Dakota Gun Laws
    > South Dakota Statute
South Dakota Tax
    > South Dakota State Tax
South Dakota Agencies
    > South Dakota Department of Labor

South Dakota Court Map

Tips