South Dakota § 10-12-27 - Township levy for bond interest and debt service fund--Surplus transferred to general fund.
Full text of South Dakota South Dakota Codified Laws § 10-12-27 — Township levy for bond interest and debt service fund--Surplus transferred to general fund., with citation guidance and answers to common questions.
§ 10-12-27. Township levy for bond interest and debt service fund--Surplus transferred to general fund.
At the time specified in § 10-12-26 in every township where there are bonds outstanding, the township board of supervisors shall levy a tax sufficient to pay the interest on such bonds and not to exceed fifteen percent of the principal of such debt, as a debt service fund, the money from which tax shall be applied to no other purpose than the payment of outstanding bonds and interest on the same, until such bonds and interest are fully paid, when any surplus remaining shall be transferred to the township general fund, the amounts of which levy shall be certified as prescribed in § 10-12-26.
Source: SL 1899, ch 41, § 4; RPolC 1903, § 2138; RC 1919, § 6751; SDC 1939, § 57.0509.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 10-12-27
What does South Dakota Codified Laws § 10-12-27 cover?
Section 10-12-27 ("Township levy for bond interest and debt service fund--Surplus transferred to general fund.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 10-12-27?
A common citation format is "South Dakota Codified Laws § 10-12-27" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 10-12-27 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.