LegalFix
Sign In

§ 9-21-16 Surplus funds used for replacement or repair required by unanticipated event.

SD Codified L § 9-21-16 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

9-21-16. Surplus funds used for replacement or repair required by unanticipated event. If the municipal corporation has on hand any unappropriated money, or money not raised by taxation, loan, or assessment, which can be spared for the purpose described in § 9-21-15 and which has not been pledged for the payment of any indebtedness of the municipality, or any money in any fund which the governing body by unanimous vote determines will not be needed for any other municipal purpose during the current fiscal year, such money may be transferred by the governing body, by unanimous vote, in order to provide in whole or in part the money made necessary by such unanticipated events or circumstances, and such money may be used in lieu of such borrowing or the borrowing may be supplementary thereto.

Source: SDC 1939, § 45.1404 as added by SL 1949, ch 184.

Previous Section
§ 9-21-15 Replacement or repair required by unanticipated event--Borrowing and addition to tax levy.
Next Section
§ 9-21-16.1 Casualty reserve fund authorized--Limitation on amount and use of fund--Interest.