9-40-6. Revenue bond issue for extension or improvement of utility.
53 words·~1 min read·
/sd/title-9/chapter-9-40/9-40-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purpose of defraying the cost of extensions, additions, and improvements to any utility previously owned and operated by the municipality, every municipality may borrow money and issue negotiable bonds, without pledging or using its credit, in the same manner as provided in § 9-40-5 for the establishment of any such utility.