13-16-13. Tax proceeds paid into bond redemption fund--Purposes for which used.
When the tax levied under §13-16-11 shall be collected the business manager shall enter the same into the bond redemption fund and the same shall not be used for any other purpose and shall be applied to the payment of bonds when due and for the payment of interest thereon.
Source: SL 1955, ch 41, ch 10, §4; SDC Supp 1960, §15.2204; SL 1963, ch 75, §1; SL 1965, ch 47; SL 1975, ch 128, §104.