13-19-7. Bonding power of school districts--Purposes for which bonds authorized.All school districts are authorized and empowered to issue negotiable bonds for the following purposes only: to refund any bonded indebtedness which is or is about to become due and payable, or whenever such indebtedness can be refunded at a lower rate of interest; to fund any judgments or outstanding warrants, and to raise money for any purpose for which the school board is authorized to spend school district funds. Source: SDC 1939, §15.2201; SL 1945, ch 54, §1; SL 1945, ch 70; SL 1947, ch 62; SL 1947, ch 78; SL 1955, ch 41, ch 10, §17; SDC Supp 1960, §15.2217; SL 1963, ch 75, §2.
South Dakota Legal Code