13-16-14. Restriction on transfers from bond redemption fund.
No money in the bond redemption fund may be transferred to any other fund unless a sufficient amount of money is retained in this fund to retire all outstanding bonds together with such interest as will accrue on such bonds. If any money is transferred from the bond redemption fund, the money shall be transferred to the general fund or the capital outlay fund.
Source: SL 1955, ch 41, ch 10, §4; SDC Supp 1960, §15.2204; SL 1963, ch 75, §1; SL 1965, ch 47; SL 2005, ch 99, §1.