South Dakota § 9-26-24 - Validity of bonds not impaired by misapplication of proceeds--Change of purpose by new election.
Full text of South Dakota South Dakota Codified Laws § 9-26-24 — Validity of bonds not impaired by misapplication of proceeds--Change of purpose by new election., with citation guidance and answers to common questions.
§ 9-26-24. Validity of bonds not impaired by misapplication of proceeds--Change of purpose by new election.
The validity of bonds which have been sold and the proceeds thereof received by the municipality shall not be impaired by the failure to use the proceeds for the authorized purpose or the insufficiency of the proceeds to accomplish such purpose in whole or in part, but the use of all or part of the proceeds for another purpose may be submitted to and authorized by the voters in the same manner as would have been required if the bonds had originally been authorized for the new purpose; provided, that the proceeds of funding or refunding bonds shall never be used for any purpose other than the payment of outstanding indebtedness.
Source: SDC 1939, § 45.2301 as added by SL 1949, ch 190, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 9-26-24
What does South Dakota Codified Laws § 9-26-24 cover?
Section 9-26-24 ("Validity of bonds not impaired by misapplication of proceeds--Change of purpose by new election.") 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 § 9-26-24?
A common citation format is "South Dakota Codified Laws § 9-26-24" (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 § 9-26-24 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.