9-21-31. Capital replacement reserve fund authorized.
34 words·~1 min read·
/sd/title-9/chapter-9-21/9-21-31A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The governing body of a municipality may by ordinance create a capital replacement reserve fund or account for general fixed assets, not to exceed fifty percent of the value of the general fixed assets.