There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 9 MUNICIPAL GOVERNMENT
Chapter 05. Annexation Of Contiguous Municipalities
§9-5-18 Bonded indebtedness of annexing school district--Tax levy--Property in annexed district exempt.
SD Codified L § 9-5-18 (through 2012) What's This?
9-5-18. Bonded indebtedness of annexing school district--Tax levy--Property in annexed district exempt. Except as otherwise provided in the plan for consolidation, all existing bonded indebtedness of the school district to which annexation is made shall be paid by such school district by a tax to be levied exclusively upon the property subject to taxation within the limits of the same as it existed prior to such annexation or as such original limits are changed, and none of the real estate or property embraced within the limits of the annexed school district shall ever be subjected in any way to the payment of any part of said bonded indebtedness.
Source: SL 1951, ch 249, § 12; SDC Supp 1960, § 45.29A12.
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