13-16-6.2. Capital outlay certificates authorized--Issuance--Sale--Election--Maturity.The school board of any school district may issue capital outlay certificates to acquire or construct real property, plant, or equipment. All capital outlay certificates shall be authorized, issued, and sold in accordance with the provisions of chapter 6-8B. However, no election other than as provided in §§13-16-6.3 and 13-16-6.4 may be held, and the certificates may not have a maturity date in excess of twenty years from the date of issuance. Source: SDCL, §§13-16-6, 13-16-6.1, as enacted by SL 1978, ch 109, §§1, 2; SL 1984, ch 43, §102B; SL 1988, ch 140, §4.
South Dakota Legal Code