South Dakota Codified Laws 50-7-8. Authority of municipalities to acquire airport–Raising funds for airport–Authorization, issuance and sale of bonds
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The governing body of any municipality may appropriate money, levy a tax or issue the bonds of the municipality to pay the purchase price or award for real property acquired, or to be acquired, for an airport or landing field, and to pay for it, wholly or partly, by an appropriation, tax levy or the proceeds of the bond issue. All bonds shall be authorized, issued and sold as provided in chapter 6-8B.
Terms Used In South Dakota Codified Laws 50-7-8
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SDC 1939, § 2.0203; SL 1984, ch 43, § 125; SL 1992, ch 60, § 2.