Bonding power of school districts--Purposes for which bonds authorized

All school districts are authorized and empowered to issue negotiable bonds for the following purposes only: to refund any bonded indebtedness which is or is about to become due and payable, or whenever such indebtedness can be refunded at a lower rate of interest; to fund any judgments or outstanding warrants, and to raise money for any purpose for which the school board is authorized to spend school district funds. Source: SDC 1939, § 15.2201; SL 1945, ch 54 , § 1; SL 1945, ch 70 ; SL 1947, ch 62 ; SL 1947, ch 78 ; SL 1955, ch 41 , ch 10, § 17; SDC Supp 1960, § 15.2217; SL 1963, ch 75 , § 2.