S.D. Codified Laws § 11-9-36

Current through the 2024 Legislative Session

Section 11-9-36 - Bonds payable only from special fund

Tax increment bonds are payable only out of the special fund created under § 11-9-31. Each bond must state that the bond is only payable out of the special fund and that the bond does not constitute a general indebtedness of the political subdivision or a charge against the general taxing power of the political subdivision.

SDCL 11-9-36

SL 1978, ch 91, §§ 21, 24; SL 1983, ch 37, § 10; SL 2011, ch 73, §13; SL 2018, ch 70, §37; SL 2024, ch 45, §16.

Amended by S.L. 2024, ch. 45,s. 16, eff. 7/1/2024.

Amended by S.L. 2018, ch. 70,s. 37, eff. 7/1/2018.