No school district shall issue bonds in an amount which with the outstanding indebtedness of the district shall exceed the constitutional debt limitation for school districts. Source: SDC 1939, § 15.2207; SL 1955, ch 41 , ch 10, § 18; SDC Supp 1960, § 15.2218; SL 1968, ch 43 , § 1.
Constitutional debt limit to be observed
SDCL § 13-19-8 — under SCHOOL DISTRICT BONDS AND NOTES.
SDCL § 13-19-8