South Dakota § 9-40-32 - Surplus applied to other municipal or public purposes.
Full text of South Dakota South Dakota Codified Laws § 9-40-32 — Surplus applied to other municipal or public purposes., with citation guidance and answers to common questions.
§ 9-40-32. Surplus applied to other municipal or public purposes.
If any surplus, as defined in § 9-40-30, remains in the operation and maintenance fund upon the expiration of any fiscal year, and the governing body determines that such surplus is not needed for the maintenance of the depreciation account, said surplus may be transferred to any other fund of the municipality in accordance with the provisions of § 9-21-26.1, and may be used for any proper municipal purpose as directed by the governing body, or may be transferred to a public school district as provided in § 9-21-28, or a hospital corporation as provided in chapter 34-9; provided that all such surplus funds on hand at any time prior to such transfer shall be available and shall be used to such extent as may be required for the payment of principal and interest on any outstanding revenue bonds, if other net revenues of the utility are insufficient for such purpose, and no such transfer shall at any time be made in contravention of any covenant of the municipality contained in the ordinances of resolutions authorizing said bonds.
Source: SDC 1939, § 45.2410 as added by SL 1953, ch 265.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 9-40-32
What does South Dakota Codified Laws § 9-40-32 cover?
Section 9-40-32 ("Surplus applied to other municipal or public purposes.") 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 § 9-40-32?
A common citation format is "South Dakota Codified Laws § 9-40-32" (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 § 9-40-32 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.