No bonds may be issued and no financial commitments requiring the obligation of district taxes or assessments beyond the current fiscal year may be entered into, unless the directors have initiated hearings on the works proposed for construction and the benefits to accrue therefrom and have conducted an election in accordance with this chapter. A sixty percent favorable vote shall grant approval of a bond issue or other permissible financing arrangement.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.