State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-09 > Statute-11-9-36

11-9-36. Bonds and notes payable only from special fund--Not general debt of municipality. Tax incremental bonds or notes are payable only out of the special fund created under § 11-9-31. Each bond or note shall contain such recitals as are necessary to show that it is only so payable and that it does not constitute a general indebtedness of the municipality or a charge against its general taxing power.

Source: SL 1978, ch 91, §§ 21, 24; SL 1983, ch 37, § 10.

State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-09 > Statute-11-9-36

11-9-36. Bonds and notes payable only from special fund--Not general debt of municipality. Tax incremental bonds or notes are payable only out of the special fund created under § 11-9-31. Each bond or note shall contain such recitals as are necessary to show that it is only so payable and that it does not constitute a general indebtedness of the municipality or a charge against its general taxing power.

Source: SL 1978, ch 91, §§ 21, 24; SL 1983, ch 37, § 10.