13-16-14. Restriction on transfers from bond redemption fund.
64 words·~1 min read·
/sd/title-13/chapter-13-16/13-16-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No money in the bond redemption fund may be transferred to any other fund unless a sufficient amount of money is retained in this fund to retire all outstanding bonds together with such interest as will accrue on such bonds. If any money is transferred from the bond redemption fund, the money shall be transferred to the general fund or the capital outlay fund.