South Dakota § 49-40-6 Allocation of bonded indebtedness as between municipality and other transferee--Terms of court award.

South Dakota Statutes

§ 49-40-6 — Allocation of bonded indebtedness as between municipality and other transferee--Terms of court award.

South Dakota § 49-40-6

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-40CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS

This text of South Dakota § 49-40-6 (Allocation of bonded indebtedness as between municipality and other transferee--Terms of court award.) 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 § 49-40-6 (2026).

Text

When the sum that is fair and reasonable shall have been determined as provided in § 49-40-5 , the court shall deduct therefrom and allow as a credit upon such sum an amount that bears the same proportion to such sum as the amount of the bonds that have been paid, redeemed or liquidated, and the reserves established therefor by said district, out of the earnings from the operation of the district while such municipality was within and a part of such district, bears to the total amount of the bonded indebtedness of such district issued to finance the purchase price and the cost of construction of the entire property of such district. In entering its award the court shall show how much of the total thereof was allowed for the physical property taken and how much was allowed for other values 

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When the sum that is fair and reasonable shall have been determined as provided in § 49-40-5 , the court shall deduct therefrom and allow as a credit upon such sum an amount that bears the same proportion to such sum as the amount of the bonds that have been paid, redeemed or liquidated, and the reserves established therefor by said district, out of the earnings from the operation of the district while such municipality was within and a part of such district, bears to the total amount of the bonded indebtedness of such district issued to finance the purchase price and the cost of construction of the entire property of such district. In entering its award the court shall show how much of the total thereof was allowed for the physical property taken and how much was allowed for other values and damages, if any.