46A-14-63. No-fund warrants to pay district obligations--Limitation on amounts.
Following a favorable vote by the voters as provided in §46A-14-55 and in anticipation of tax or special assessment collections, the managers may issue no-fund warrants to pay district obligations. However, the outstanding amounts of the no-fund warrants may not exceed the product of two mills times the assessed valuation of the landowner's taxable land and buildings within the district.
Source: SL 1957, ch 492, §30; SL 1959, ch 452, §24; SDC Supp 1960, §61.1530 (2); SDCL §46-24-62; SL 2011, ch 165, §529.