South Dakota § 9-40-31 Expenditures from depreciation account--Investment of accumulations.

South Dakota Statutes

§ 9-40-31 — Expenditures from depreciation account--Investment of accumulations.

South Dakota § 9-40-31

Title 9MUNICIPAL GOVERNMENT

Ch. 9-40UTILITY FACILITIES AND REVENUE BONDS

This text of South Dakota § 9-40-31 (Expenditures from depreciation account--Investment of accumulations.) 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 § 9-40-31 (2026).

Text

The funds accumulating to the depreciation account shall be expended in balancing depreciation in such utility, or in making any constructions, extensions, or additions thereto. Any such accumulations may be invested as the governing body may designate, to the same extent and in the same manner as any other funds of the municipality may be invested as otherwise provided by law; and if invested, the income from such investment shall be carried into the depreciation account.

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The funds accumulating to the depreciation account shall be expended in balancing depreciation in such utility, or in making any constructions, extensions, or additions thereto. Any such accumulations may be invested as the governing body may designate, to the same extent and in the same manner as any other funds of the municipality may be invested as otherwise provided by law; and if invested, the income from such investment shall be carried into the depreciation account.