South Dakota § 13-16-12 Refunding bond proceeds placed in bond redemption fund--Reduction of annual tax levy.

South Dakota Statutes

§ 13-16-12 — Refunding bond proceeds placed in bond redemption fund--Reduction of annual tax levy.

South Dakota § 13-16-12

Title 13EDUCATION

Ch. 13-15ASCHOOL DISTRICT FUNDS AND ACCOUNTS

This text of South Dakota § 13-16-12 (Refunding bond proceeds placed in bond redemption fund--Reduction of annual tax levy.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 13-16-12 (2026).

Text

Money received from the sale of refunding bonds shall be placed in the bond redemption fund to be held, or invested, and applied to the payment of the bonds to be refunded. The school board shall cause to be certified to the county auditor the amount of money so received and placed in the bond redemption fund each school fiscal year and the county auditor shall reduce by such amount the taxes to be levied to meet payments on the refunded bonds.

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Money received from the sale of refunding bonds shall be placed in the bond redemption fund to be held, or invested, and applied to the payment of the bonds to be refunded. The school board shall cause to be certified to the county auditor the amount of money so received and placed in the bond redemption fund each school fiscal year and the county auditor shall reduce by such amount the taxes to be levied to meet payments on the refunded bonds.