South Dakota § 13-19-1 School board power to borrow on notes--Authorization, issuance and sale--Maximum term.

South Dakota Statutes

§ 13-19-1 — School board power to borrow on notes--Authorization, issuance and sale--Maximum term.

South Dakota·Title 13 EDUCATION·Ch. 13-17 SCHOOL DISTRICT BONDS AND NOTES

Any school board may borrow money, from any source willing to lend the money, by issuing a promissory note subject to the limitations and regulations set forth in §§ 13-19-2 to 13-19-6 , inclusive. All notes shall be authorized, issued, and sold in accordance with the provisions of chapter 6-8B , except that no election shall be held and the notes may not be issued for a term in excess of twenty - four consecutive months.

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Any school board may borrow money, from any source willing to lend the money, by issuing a promissory note subject to the limitations and regulations set forth in §§ 13-19-2 to 13-19-6 , inclusive. All notes shall be authorized, issued, and sold in accordance with the provisions of chapter 6-8B , except that no election shall be held and the notes may not be issued for a term in excess of twenty - four consecutive months.

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