34-11A-24. Limitation on indebtedness--Power to borrow money.
54 words·~1 min read·
/sd/title-34/chapter-34-11/34-11a-24·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No district may become indebted for an amount that is not payable from ten annual maximum tax levies as authorized by § 34-11A-19 . With the limits herein authorized, the district shall have power to borrow money at a rate not in excess of twelve percent and to issue appropriate evidence of indebtedness thereof.