46A-18-45. Election to approve financing--Vote required.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. Source: SL 1984, ch 293, §44.
South Dakota Legal Code