There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 9 MUNICIPAL GOVERNMENT
Chapter 44. Municipal Improvement Bonds
§9-44-11 Assessments, taxes, and revenues paid into improvement fund--Use of fund--Unexpended balance.
SD Codified L § 9-44-11 (through 2011) What's This?
9-44-11. Assessments, taxes, and revenues paid into improvement fund--Use of fund--Unexpended balance. Into the fund of the improvement financed by municipal improvement bonds shall be paid all assessments and taxes levied on account of the improvement and any net revenues appropriated for the payment of the bonds as provided in this chapter. Moneys in said fund shall be used for no purpose other than the payment of the principal of and interest on said bonds as the same shall become due. After the payment of all principal and interest the governing body may transfer any unexpended balance in said fund to the general fund of the municipality.
Source: SL 1947, ch 219, § 2; SDC Supp 1960, § 45.21A02.
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