At or before the issuing of any bonds the school board shall provide for the collection of an annual tax sufficient to pay the interest and principal thereof when due, for the entire term of years for which said bonds are to run, by proper resolution, copy of which shall be filed with the county auditor. All such levies when legally made shall be irrepealable until such debt shall be paid or sufficient moneys have been accumulated to pay such debt, and shall be exclusive of the maximum levy provided for other school district funds.
S.D. Codified Laws § 13-16-10
Annual levy to pay school district bonds--Irrepealable--Exclusive of maximum levy
Applied in 2 court decisions — leading case Hall v. Salem Ind. Sch. Dist. No. 17, McCook County (1974)
Most recently applied in Hall v. Salem Ind. Sch. Dist. No. 17, McCook County (April 1974)
Source: SDC 1939, § 15.2208; SL 1955, ch 41, ch 10, § 4; SDC Supp 1960, § 15.2204; SL 1963, ch 75, § 1; SL 1965, ch 47.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.