9-51-26. Agreement to levy tax when bonds due--Certification to county auditor.
78 words·~1 min read·
/sd/title-9/chapter-9-51/9-51-26A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The municipality may agree, prior to the issuance or delivery of any bonds, to levy by ordinance an annual ad valorem tax upon all the taxable property within the municipality in such amount as will pay the annual interest thereon and the principal of said bonds at the time the same become due. Within thirty days after the adoption and publication of said ordinance, the auditor or clerk shall transmit to the county auditor a certified copy thereof.