A municipality may borrow money from any source willing to lend the money by issuing a promissory note subject to the limitations set in §§ 9-25-13 to
Promissory notes authorized--Sources of repayment--Recitals--Issuance and sale--Maximum term
SDCL § 9-25-12, under MUNICIPAL BONDS AND NOTES.
SDCL § 9-25-12