South Dakota § 7-24-18 Tax levy to pay county bonds--Proceeds placed in debt service fund.

South Dakota Statutes

§ 7-24-18 — Tax levy to pay county bonds--Proceeds placed in debt service fund.

South Dakota § 7-24-18

Title 7COUNTIES

Ch. 7-24COUNTY BONDS

This text of South Dakota § 7-24-18 (Tax levy to pay county bonds--Proceeds placed in debt service fund.) 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 § 7-24-18 (2026).

Text

When a county issues bonds, at or before the time of doing so, the governing body thereof shall levy a continuing annual tax sufficient to pay the interest and the principal thereof when due. All taxes so levied, when collected, shall be placed in a debt service fund. No part of the fund may be used for any other purpose than to pay the interest and principal of the bonds for which they were levied and collected. The levy authorized by this section is in addition to the levy authorized in § 10-12-21 .

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When a county issues bonds, at or before the time of doing so, the governing body thereof shall levy a continuing annual tax sufficient to pay the interest and the principal thereof when due. All taxes so levied, when collected, shall be placed in a debt service fund. No part of the fund may be used for any other purpose than to pay the interest and principal of the bonds for which they were levied and collected. The levy authorized by this section is in addition to the levy authorized in § 10-12-21 .