South Dakota Statutes
§ 46A-6-41 — Maximum amount of loans--Payment.
The total sum borrowed by any district under the provisions of §§ 46A-6-39 and 46A-6-40 may at no time exceed two-thirds of the amount of the general fund levy of the district for the preceding year. If the levy for the then current year is insufficient to provide for the payment of the sum borrowed, then the payment shall be provided for in the levy for the next ensuing year.
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Legislative History
SDC 1939, § 61.0814; SDCL § 46-14-40; SL 2011, ch 165, § 410.
Nearby Sections
15
§ 46A-1-1
Legislative findings and policy.§ 46A-1-100
Definition of terms.§ 46A-1-102
Disbursement and administration of money from subfunds--Rules--Application of provisions.§ 46A-1-103
Promulgation of rules by board--Content.§ 46A-1-13
Presentation of cost data to Governor and Legislature--Requests for financing authorization.§ 46A-1-13.10
Lewis and Clark Rural Water System authorized.§ 46A-1-13.11
Southern Black Hills Water System authorized.§ 46A-1-13.12
Belle Fourche irrigation upgrade project authorized.