Section 9-51-18 - Bondholders have no right to compel tax levy or appropriation. - South-dakota Statutes

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9-51-18. Bondholders have no right to compel tax levy or appropriation. No purchaser or holder of any bond issued under § 9-51-13 shall ever have any right to compel the exercise of any taxing powers of the municipality or the appropriation of any of its funds or moneys save and except as set forth in the ordinance of the municipality authorizing the issuance of such bonds and as provided in §§ 9-51-13 to 9-51-21, inclusive.

Source: SL 1955, ch 216, § 5; SDC Supp 1960, § 45.02A05.

State Codes and Statutes

Statutes > South-dakota > Title-9 > Chapter-51 > Statute-9-51-18

9-51-18. Bondholders have no right to compel tax levy or appropriation. No purchaser or holder of any bond issued under § 9-51-13 shall ever have any right to compel the exercise of any taxing powers of the municipality or the appropriation of any of its funds or moneys save and except as set forth in the ordinance of the municipality authorizing the issuance of such bonds and as provided in §§ 9-51-13 to 9-51-21, inclusive.

Source: SL 1955, ch 216, § 5; SDC Supp 1960, § 45.02A05.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-9 > Chapter-51 > Statute-9-51-18

9-51-18. Bondholders have no right to compel tax levy or appropriation. No purchaser or holder of any bond issued under § 9-51-13 shall ever have any right to compel the exercise of any taxing powers of the municipality or the appropriation of any of its funds or moneys save and except as set forth in the ordinance of the municipality authorizing the issuance of such bonds and as provided in §§ 9-51-13 to 9-51-21, inclusive.

Source: SL 1955, ch 216, § 5; SDC Supp 1960, § 45.02A05.