Statutes, codes, and regulations
South Dakota Codified Laws
Title 13 - EDUCATION
Chapter 19 - SCHOOL DISTRICT BONDS AND NOTES
Section 13-19-3 - Borrowing limit reduced by outstanding warrants or notes

S.D. Codified Laws § 13-19-3

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Current through the 2024 Legislative Session
Section 13-19-3 - Borrowing limit reduced by outstanding warrants or notes

In case any registered warrants or promissory notes are outstanding against the fund for which the money is to be borrowed, the borrowing limit as specified in § 13-19-2 shall be reduced by the amount of such warrants or promissory notes outstanding at the time the money is borrowed.

SDCL 13-19-3

SL 1955, ch 41, ch 10, § 16; SDC Supp 1960, § 15.2216 (2); SL 1965, ch 48.