Effective 28 Aug 1947
321.290. Reserve fund, taxes for. — Whenever any bonded or contractual indebtedness has been incurred by a district, it shall be lawful for the board to levy taxes and collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, to be used to meet the obligations of the district.
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(L. 1947 V. I p. 432 § 30)
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