South Dakota Codified Laws 34-11A-24. Limitation on indebtedness–Power to borrow money
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No district may become indebted for an amount that is not payable from ten annual maximum tax levies as authorized by § 34-11A-19. With the limits herein authorized, the district shall have power to borrow money at a rate not in excess of twelve percent and to issue appropriate evidence of indebtedness thereof.
Terms Used In South Dakota Codified Laws 34-11A-24
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Source: SL 1982, ch 259, § 26.