South Dakota § 9-43-115 Fund for payment of cost of improvements.

South Dakota Statutes

§ 9-43-115 — Fund for payment of cost of improvements.

South Dakota·Title 9 MUNICIPAL GOVERNMENT·Ch. 9-42 SPECIAL ASSESSMENTS AND FINANCING OF IMPROVEMENTS

All amounts derived from special assessments for all local improvements shall be receipted into the account of the municipality. The proceeds of the sale of bonds issued pursuant to § 9-43-114 shall be placed into a fund and may be used only for the payment of the cost of the improvements. No moneys may be transferred out of the fund until all obligations that are charged against it have been discharged. Thereafter the governing body may transfer any unexpended and unobligated balance to the general fund.

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All amounts derived from special assessments for all local improvements shall be receipted into the account of the municipality. The proceeds of the sale of bonds issued pursuant to § 9-43-114 shall be placed into a fund and may be used only for the payment of the cost of the improvements. No moneys may be transferred out of the fund until all obligations that are charged against it have been discharged. Thereafter the governing body may transfer any unexpended and unobligated balance to the general fund.

South Dakota § 9-43-115 (Fund for payment of cost of improvements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.