South Dakota Codified Laws 9-43-120. Special assessment accounts–Source of moneys for accounts
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The governing body may by ordinance or resolution create and maintain special assessment accounts for financing local improvements for which assessments are to be levied. The governing body may provide moneys for the accounts in the annual appropriation ordinance or by transfer of unused balances from other funds in accordance with the provisions of chapter 9-21, or it may provide for the issuance of general obligation bonds for the purpose of creating and maintaining the account after authorization by the voters and in the manner provided by chapter 9-26. Creating and maintaining the account is deemed a single purpose in framing the question to be submitted to the voters.
Terms Used In South Dakota Codified Laws 9-43-120
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- ordinance: as used in this title shall mean a permanent legislative act of the governing body of a municipality within the limits of its powers. See South Dakota Codified Laws 9-19-1
Source: SL 2012, ch 57, § 48.