13-19-7. Bonding power of school districts--Purposes for which bonds authorized.
All school districts are authorized and empowered to issue negotiable bonds for the following purposes only: to refund any bonded indebtedness which is or is about to become due and payable, or whenever such indebtedness can be refunded at a lower rate of interest; to fund any judgments or outstanding warrants, and to raise money for any purpose for which the school board is authorized to spend school district funds.
Source: SDC 1939, §15.2201; SL 1945, ch 54, §1; SL 1945, ch 70; SL 1947, ch 62; SL 1947, ch 78; SL 1955, ch 41, ch 10, §17; SDC Supp 1960, §15.2217; SL 1963, ch 75, §2.
Structure South Dakota Codified Laws
Chapter 19 - School District Bonds And Notes
Section 13-19-2 - Amount borrowed on notes limited by anticipated receipts.
Section 13-19-3 - Borrowing limit reduced by outstanding warrants or notes.
Section 13-19-4 - Interest rate on notes.
Section 13-19-5 - Signing of notes.
Section 13-19-6 - Cash receipts devoted to retirement of warrants and notes when note outstanding.
Section 13-19-7 - Bonding power of school districts--Purposes for which bonds authorized.
Section 13-19-8 - Constitutional debt limit to be observed.
Section 13-19-9 - Authorization, issuance, and sale of bonds--No election.
Section 13-19-28 - Terms of financing arrangements.
Section 13-19-29 - Limitation on expenditures when amounts are due and funds pledged as security.