Bond issue for erection or acquisition of utility--Credit of municipality not used--Authorization--Issuance--Sale.

  1. Law
  2. South Dakota Codified Laws
  3. Municipal Government
  4. Utility Facilities And Revenue Bonds
  5. Bond issue for erection or acquisition of utility--Credit of municipality not used--Authorization--Issuance--Sale.

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9-40-5. Bond issue for erection or acquisition of utility--Credit of municipality not used--Authorization--Issuance--Sale.

For the purpose of defraying the cost of erecting, acquiring, and establishing the utility, any municipality may borrow money and issue negotiable bonds, without pledging or using the credit of the municipality. All bonds shall be authorized, issued, and sold as provided in chapter 6-8B.

Source: SL 1931, ch 194, §2; SDC 1939, §45.2402; SL 1949, ch 191, §2; SL 1982, ch 75, §6; SL 1984, ch 43, §76.


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