§ 61-24-09 — District budget - Determination of amount to be levied - Adoption of levy - Limitation

Limitation.
In July of each year, the board of directors shall estimate and itemize all the expenses and
obligations of the district, including expenses of directors, expenses of operating the office, debt
service and retirement, and obligations and liabilities to the United States for which provision
must be made. The board of directors may include in such budget funds deemed necessary to
create reserve funds to meet future payments under district contracts. Upon the completion and
adoption of such budget, the board of directors shall make a tax levy in an amount sufficient to
meet such budget. Such levy shall be in the form of a resolution, adopted by a majority vote of
the members of the board of directors of the district. Such resolution shall levy in mills, but not
exceeding one mill, sufficient to meet all the expenses, obligations, and liabilities of the district
as provided in the budget.