South Dakota § 7-3-4 - Apportionment of bonded indebtedness after division of county--Bonds and tax levy of new county.
Full text of South Dakota South Dakota Codified Laws § 7-3-4 — Apportionment of bonded indebtedness after division of county--Bonds and tax levy of new county., with citation guidance and answers to common questions.
§ 7-3-4. Apportionment of bonded indebtedness after division of county--Bonds and tax levy of new county.
Any bonded indebtedness of such original county shall be apportioned to each division ratably upon the basis of the last equalized assessment previous to the division thereof and each of such divisions shall be charged with, assume, and pay its just portion of such debt upon the basis of such apportionment; and each new division shall, as soon as organized as a county, issue its bonds to meet its portion of such bonded debt. Such bonds shall be made payable to the original county, shall bear the same rate of interest, be of similar tenor, and shall mature on the same date as the outstanding bonds of the original county on account of which the bonds of the new county are issued. The county commissioners of each new county shall annually levy and collect a tax to pay the interest on the bonds issued hereunder as it shall accrue and to meet and discharge the principal thereof at maturity, and the original county shall retain such bonds and not be allowed to dispose of or sell the same.
Source: SL 1907, ch 100, § 3; SL 1909, ch 81; RC 1919, § 5772; SDC 1939, § 12.0403.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 7-3-4
What does South Dakota Codified Laws § 7-3-4 cover?
Section 7-3-4 ("Apportionment of bonded indebtedness after division of county--Bonds and tax levy of new county.") 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 § 7-3-4?
A common citation format is "South Dakota Codified Laws § 7-3-4" (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 § 7-3-4 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.