The governing body of a municipality may by ordinance create a capital replacement reserve fund or account for general fixed assets, not to exceed fifty percent of the value of the general fixed assets.
S.D. Codified Laws § 9-21-31
Capital replacement reserve fund authorized
Source: SL 1994, ch 69, § 1.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.