South Dakota § 9-43-119 Calculation of net indebtedness of municipality on general obligation bonds.

South Dakota Statutes

§ 9-43-119 — Calculation of net indebtedness of municipality on general obligation bonds.

South Dakota § 9-43-119

Title 9MUNICIPAL GOVERNMENT

Ch. 9-42SPECIAL ASSESSMENTS AND FINANCING OF IMPROVEMENTS

This text of South Dakota § 9-43-119 (Calculation of net indebtedness of municipality on general obligation bonds.) 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 § 9-43-119 (2026).

Text

The principal amount of all special assessment bonds that are held in any debt service fund and that are not in default as to either principal or interest, as well as other assets of the fund, are deductible from the principal amount of the outstanding general obligation bonds for which the debt service fund is maintained, in determining at any time the net indebtedness of the municipality represented by the general obligation bonds.

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The principal amount of all special assessment bonds that are held in any debt service fund and that are not in default as to either principal or interest, as well as other assets of the fund, are deductible from the principal amount of the outstanding general obligation bonds for which the debt service fund is maintained, in determining at any time the net indebtedness of the municipality represented by the general obligation bonds.