6-14-2. Spending.
53 words·~1 min read·
/sd/title-6/chapter-6-14/6-14-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The interest earned from the revenue in an endowment fund created pursuant to § 6-14-1 may be spent by the governing body of a political subdivision for any legal purpose. The principal in an endowment fund may be expended by the governing body by resolution after a public hearing called for that purpose.