9-21-16.1. Casualty reserve fund authorized--Limitation on amount and use of fund--Interest.
The governing body of a municipality may, by resolution or ordinance, establish a fund to be designated the casualty reserve fund and the governing body may, in their annual appropriation, set forth a specific amount for such fund. The amount appropriated shall be transferred to such fund. However, at no time may the money in such fund exceed the sum of one hundred thousand dollars. The money in the fund may be expended only for the payment of expenses to replace and repair property of the municipality which was damaged or lost as a result of a casualty loss. If this fund is at the maximum amount allowed, the interest earned from the investment of the fund shall be placed in the municipality's general fund.
Source: SL 1968, ch 189; SL 1977, ch 75; SL 1986, ch 74.
Structure South Dakota Codified Laws
Title 9 - Municipal Government
Chapter 21 - Tax Levies And Appropriations
Section 9-21-1 - Fiscal year of municipalities.
Section 9-21-3 - Appropriations limited to municipal powers.
Section 9-21-5 - Appropriations for support of Civil Air Patrol.
Section 9-21-6 - Classification of expenditures in annual appropriation ordinance.
Section 9-21-6.1 - Line item for contingencies--Maximum amount--Transfer to other appropriations.
Section 9-21-8 - Additional appropriations prohibited--Bond authorization as appropriation.
Section 9-21-9 - Expenditures limited to appropriated amounts.
Section 9-21-10 - Contracts prohibited unless covered by appropriation or bonds.
Section 9-21-12 - Authorization of depreciation reserve within proprietary fund.
Section 9-21-13 - Purposes of depreciation or capital replacement reserves.
Section 9-21-14.1 - Accumulation of funds for capital outlay purposes--Maximum amount.
Section 9-21-16 - Surplus funds used for replacement or repair required by unanticipated event.
Section 9-21-17 - Judgment against municipality--Borrowing--Maximum tax levy to pay judgment.
Section 9-21-18.1 - Municipality authorized to enter into lease-purchase agreements.
Section 9-21-20 - Certification of annual tax levy to county auditor.
Section 9-21-22 - Maximum obligations under appropriation.
Section 9-21-23 - Proration of expenditures under appropriation for more than one year.
Section 9-21-24 - Highway taxes paid to municipal treasurer quarterly--Purposes for which expended.
Section 9-21-24.1 - Encumbrance of unexpended appropriations for obligations incurred but not paid.
Section 9-21-25 - Diversion of money belonging to funds prohibited.
Section 9-21-26.1 - Transfer of surplus funds--Restrictions.
Section 9-21-27 - Transfer of bond redemption funds allowed if certain amount is retained.
Section 9-21-31 - Capital replacement reserve fund authorized.
Section 9-21-32 - Internal service fund for equipment purchases authorized--Equipment defined.
Section 9-21-33 - Contributions to technical colleges.
Section 9-21-34 - Municipal appropriation--Deadlines.
Section 9-21-34.1 - Municipal appropriation--Moved deadline--Certification.