S.D. Codified Laws § 9-26-25

Current through the 2024 Legislative Session

Section 9-26-25 - Tax levy for retirement of general obligation bonds

Whenever any general obligation bonds are issued by a municipality, it shall be the duty of the governing body by ordinance to levy an annual tax upon the taxable property within the municipality of such an amount as will pay the annual interest thereon and the principal of said bonds at the time they become due.

SDCL 9-26-25

SD Const, art 13, § 5; RC 1919, § 6998; SL 1919, ch 270; SL 1931, ch 188; SDC 1939, § 45.2303; SL 1949, ch 190, § 3.