9-52-17. Operation for purpose of profit prohibited.
Municipalities shall not be authorized to operate revenue-producing enterprises of the nature described in this chapter for the purpose of profit or return greater than necessary to pay the cost of acquisition, improvement, operation, and maintenance thereof and interest on money borrowed or advanced from general funds for such purposes.
Source: SL 1951, ch 246, §2; SDC Supp 1960, §45.24B02.
Structure South Dakota Codified Laws
Title 9 - Municipal Government
Chapter 52 - Municipal Auditoriums
Section 9-52-1 - Power to construct, operate, and maintain auditorium.
Section 9-52-1.1 - Lease of auditorium or convention center--Terms--Rent.
Section 9-52-2 - Power to create auditorium board.
Section 9-52-3 - Auditorium revenue bonds authorized--Purposes for which proceeds used.
Section 9-52-4 - Authorization, issuance and sale of bonds--Vote required.
Section 9-52-5 - Municipal indebtedness not authorized by chapter.
Section 9-52-11 - Findings and determinations as binding covenants.
Section 9-52-17 - Operation for purpose of profit prohibited.
Section 9-52-23 - General powers of auditorium board--Copies of board proceedings as evidence.
Section 9-52-24 - Custody and disbursement of auditorium funds--Petty cash fund.
Section 9-52-26 - Auditorium board governed by terms of bonds and resolutions.
Section 9-52-28 - Severability of chapter and resolutions.
Section 9-52-29 - Sale and lease-back arrangements--Tax exemption.
Section 9-52-30 - Sale and lease-back arrangements--Validation of prior actions.
Section 9-52-31 - Sale and lease-back arrangements--Powers additional.