The funds arising from assessment and levy in any year shall be devoted to the obligations of the district payable from such funds and, as to all obligations payable from the bond and United States contract fund, shall be so devoted in the order of priority of the obligation.
S.D. Codified Laws § 46A-7-35
Application of funds from assessment and levy--Priority in distribution
Source: SDC 1939, § 61.0911; SDCL, § 46-15-35; SL 1976, ch 277, § 21.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.