South Dakota § 9-5-13 Bonded indebtedness of annexing municipality--Tax levy--Property in annexed municipality exempt.

South Dakota Statutes

§ 9-5-13 — Bonded indebtedness of annexing municipality--Tax levy--Property in annexed municipality exempt.

South Dakota·Title 9 MUNICIPAL GOVERNMENT·Ch. 9-5 ANNEXATION OF CONTIGUOUS MUNICIPALITIES

Except as otherwise provided in the plan for consolidation, all existing bonded indebtedness of the municipality to which annexation is made shall be paid by such municipality by a tax to be levied exclusively upon the property subject to taxation within the limits of the same as it existed prior to such annexation or as such original limits are changed, and none of the real estate or property embraced within the limits of the annexed municipality shall ever be subjected, in any way, to the payment of any part of said bonded indebtedness.

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Except as otherwise provided in the plan for consolidation, all existing bonded indebtedness of the municipality to which annexation is made shall be paid by such municipality by a tax to be levied exclusively upon the property subject to taxation within the limits of the same as it existed prior to such annexation or as such original limits are changed, and none of the real estate or property embraced within the limits of the annexed municipality shall ever be subjected, in any way, to the payment of any part of said bonded indebtedness.

South Dakota § 9-5-13 (Bonded indebtedness of annexing municipality--Tax levy--Property in annexed municipality exempt.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.