Title 13 — EDUCATION

Source: SL 1986, ch 124 , § 3; SL 1989, ch 146 , § 8; SL 1999, ch 84 , § 7; SL 2015, ch 89 , § 19; SL 2015, ch 90 , § 2.

Any school board may borrow money, from any source willing to lend the money, by issuing a promissory note subject to the limitations and regulations set forth in §§ 13-19-2 to 13-19-6 , inclusive. All notes shall be authorized, issued, and sold in accordance with the provisions …

13-19-2 Amount borrowed on notes limited by anticipated receipts. 13-19-2.1 Repealed 13-19-3 Borrowing limit reduced by outstanding warrants or notes. 13-19-4 Interest rate on notes. 13-19-5 Signing of notes. 13-19-6 Cash receipts devoted to retirement of warrants and notes when …

A school district may issue and sell or pledge its notes to the health and educational facilities authority or the authority's designated agent or trustee. School districts may enter into contracts and agreements with the health and educational facilities authority to effectuate …

Repealed by SL 1984, ch 43 , § 131 13-19-18

Repealed by SL 1984, ch 43 , § 131 13-19-27 Financing arrangements for capital improvements and expenditures incident to consolidation. 13-19-28 Terms of financing arrangements. 13-19-29 Limitation on expenditures when amounts are due and funds pledged as security. 13-19-30 Agree…

Except for obligations to the state, including the health and educational facilities authority, or federal government, the money borrowed pursuant to § 13-19-1 may not exceed the sum of ninety - five percent of the amount of taxes levied or proposed to be levied by the school boa…

Source: SL 1990, ch 133 , § 3; SL 2021, ch 73 , § 20.

Any school district may enter into lease-purchase agreements or other financing arrangement with or issue capital outlay certificates that are secured by a pledge of state aid to education funds in connection with a program sponsored by the Health and Educational Facilities Autho…

The terms of the lease - purchase agreement, resolution, certificate, or other arrangement, or any bond, note, or certificate issued to or in connection with a program sponsored by the Health and Educational Facilities Authority for school districts and shall contain such terms a…

If capital outlay certificates are issued pursuant to the program authorized by § 13-19-27 or 1-16A-97 , or a lease-purchase agreement, or other financing arrangement is entered into with the Health and Educational Facilities Authority as authorized by § 13-13-39 , 13-16-6.4 , 13…

In case any registered warrants or promissory notes are outstanding against the fund for which the money is to be borrowed, the borrowing limit as specified in § 13-19-2 shall be reduced by the amount of such warrants or promissory notes outstanding at the time the money is borro…

Any school district may enter into an agreement with the Health and Educational Facilities Authority and any financial institution acting as trustee or paying agent for bonds, leases, certificates, or other obligations, issued for the purpose of implementing §

The rate of interest shall be stated on the note authorized by § 13-19-1 and shall be negotiated by the parties. Source: SL 1955, ch 41 , ch 10, § 16; SDC Supp 1960, § 15.2216 (5); SL 1965, ch 48 ; SL 1980, ch 129 ; SL 1983, ch 28 , § 37.

Notes authorized by § 13-19-1 shall be signed by the president and the business manager of the school board. Source: SL 1955, ch 41 , ch 10, § 16; SDC Supp 1960, § 15.2216 (4); SL 1965, ch 48 ; SL 1975, ch 128 , § 119.

When a promissory note authorized by § 13-19-1 has been issued and not paid in full upon the maturity thereof, then thereafter, no cash receipts, from the collection of taxes or from the collection of tuition charges, shall be expended for any purpose except the retirement of pri…

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 ju…

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 , § …

For the purpose of § 13-19-8 , the outstanding indebtedness of any school district created by reorganization under chapter 13-6 , shall include the principal and accrued interest thereon of all preexisting bonded indebtedness outstanding against any portion of a former school dis…

All school district bonds shall be authorized, issued, and sold as provided in chapter 6-8B , except that no election shall be held to issue bonds to fund registered warrants. Source: SDC 1939, § 15.2201; SL 1945, ch 54 , § 1; SL 1947, ch 62 ; SL 1955, ch 41 , ch 10, § 17; SDC Su…