Section 9-43-62 - Improvement bonds in lieu of assessment certificates--Issuance--Sale--Maturity--Single issue for several improvements.
9-43-62. Improvement bonds in lieu of assessment certificates--Issuance--Sale--Maturity--Single issue for several improvements. The governing body, in lieu of issuing assessment certificates, may provide by ordinance or resolution for the issuance of negotiable bonds without a vote of the voters in an amount not exceeding the entire cost of the improvement. The bonds shall be issued and sold as provided in chapter 6-8B, except that all bonds shall mature not later than one year after the maturity of the last assessment installment. A single issue may be sold to finance several improvements.
Source: SL 1905, ch 155; RC 1919, § 6409; SL 1921, ch 319; SDC 1939, § 45.2114; SL 1949, ch 189, § 6; SL 1953, ch 264; SL 1982, ch 75, § 12; SL 1984, ch 43, § 84.