Section 34-10-16 - Power to acquire hospital facilities--Authorization, issuance and sale of bonds--Amount limited

34-10-16. Power to acquire hospital facilities--Authorization, issuance and sale of bonds--Amount limited.The district may purchase, construct, equip, lease, or otherwise acquire public hospital facilities and issue bonds for the cost thereof. All bonds shall be authorized, issued, and sold by the board of trustees as provided in chapter 6-8B, except that no bonds may be issued in excess of five percent of the assessed valuation of all of the property within the district as established by the assessment rolls for the preceding year or in excess of any applicable constitutional debt limit. Source: SL 1959, ch 135, §14; SDC Supp 1960, §27.19B14; SL 1984, ch 43, §116.