South Dakota Codified Laws 9-54-9. Municipal obligations restricted by contractual payments from facilities
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Nothing in this chapter shall be so construed as to authorize or permit any municipality to make any contract or to incur any obligation of any kind or nature except such as shall be payable solely out of the contractual payments from such facilities.
Terms Used In South Dakota Codified Laws 9-54-9
- Contract: A legal written agreement that becomes binding when signed.
- 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.
Source: SL 1964, ch 148, § 4.