9-51-18. Bondholders have no right to compel tax levy or appropriation.
65 words·~1 min read·
/sd/title-9/chapter-9-51/9-51-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No purchaser or holder of any bond issued under § 9-51-13 shall ever have any right to compel the exercise of any taxing powers of the municipality or the appropriation of any of its funds or moneys save and except as set forth in the ordinance of the municipality authorizing the issuance of such bonds and as provided in §§ 9-51-13 to 9-51-21 , inclusive.