™Your Policy Risk Impact Agent
59 chapters · 1,120 sections in this title.
SDCL § 9-25-1 General bonding power of municipalities
1.0K chars
Every municipality shall have power to borrow money on the credit of the municipality for any authorized corporate purpose within the constitutional limitations of municipal indebtedness and to issue its negotiable bonds therefor in such amounts, forms, and upon such conditions a…
SDCL § 9-25-12 Promissory notes authorized--Sources of repayment--Recitals--Issuance and sale--Maximum term
0.1K chars
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
SDCL § 9-25-13 Maximum amount borrowed on promissory note
0.6K chars
The money borrowed pursuant to § 9-25-12 may not exceed the sum of ninety - five percent of the amount of anticipated special assessment bond proceeds or may not exceed the sum of ninety - five percent of the amount of uncollected taxes levied by the municipality for the current …
SDCL § 9-25-14 Borrowing limit reduced by outstanding warrants and notes
0.3K chars
If any registered warrants or promissory notes are outstanding against the fund for which the money is to be borrowed, the borrowing limit specified in § 9-25-13 shall be reduced by the amount of such outstanding warrants or promissory notes. Source: SL 1978, ch 63 , § 3.
