There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 9 MUNICIPAL GOVERNMENT
Chapter 26. General Obligation Bonds
§9-26-25 Tax levy for retirement of general obligation bonds.
SD Codified L § 9-26-25 (through 2012) What's This?
9-26-25. Tax levy for retirement of general obligation bonds. Whenever any general obligation bonds are issued by a municipality, it shall be the duty of the governing body by ordinance to levy an annual tax upon the taxable property within the municipality of such an amount as will pay the annual interest thereon and the principal of said bonds at the time they become due.
Source: SD Const, art 13, § 5; RC 1919, § 6998; SL 1919, ch 270; SL 1931, ch 188; SDC 1939, § 45.2303; SL 1949, ch 190, § 3.
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