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26.201.29 101st Legislative Session 229 South Dakota Legislature Senate Bill 229 Introduced by:
26.201.30 101st Legislative Session 229 South Dakota Legislature Senate Bill 229 SENATE EDUCATION ENGROSSED Introduced by:
Senator Nelson An Act to require an election to approve the issuance of capital outlay certificates.
Senator Nelson An Act to require an election to approve the issuance of certain capital outlay certificates, lease-purchase contracts, or installment purchase contracts.
Any A proposed installment purchase contract, or lease-purchase, or issue of capital outlay certificates authorized pursuant to § 13-16-6 or 13-16-6.2 which will obligate the school district for future payments on the principal, the total of which will exceed one and one-half percent of the taxable valuation of taxable property within the district fifty thousand dollars, may not be entered into, or certificates issued, unless prior thereto the school board conducts a public hearing thereon after having given notice by publication at least twice in its official newspaper at least ten days before the hearing.
Any A proposed installment purchase contract, lease-purchase, or issue issuance of capital outlay certificates authorized pursuant to § 13-16-6 or 13-16-6.2 which will obligate the school district for future payments on the principal, the total of which will exceed one and one-half percent of the taxable valuation of taxable property within the district, may not be entered into, or certificates issued, unless prior thereto the school board conducts a public hearing thereon after having given notice by publication at least twice in its official newspaper at least ten days before the hearing.
Upon the approval of the board during the hearing, the board may approve the action or may shall refer the matter to the voters of the district.
Upon Except as otherwise provided in this section, the hearing the board may approve the action or may refer the matter to the voters of the district.
Capital outlay certificates authorized pursuant to § 13-16-6 or 13-16-6.2 may not be issued unless prior thereto the school board conducts a public hearing after having given notice by publication at least twice in its official newspaper at least ten days before the hearing.
A proposed installment purchase contract, lease-purchase, or issuance of outlay certificates authorized pursuant to § 13-16-6 or 13-16-6.2, which obligate the district to future payments, or with a maturity date, in excess of ten years, may not be issued or entered into unless the board refers the matter to the voters of the district.
Upon the approval of the board during the hearing, the board shall refer the matter to the voters of the district.
26.201.29 2 229 Section 3.
26.201.30 2 229 Section 3.
Approval to enter into an agreement or issue capital outlay certificates pursuant to § 13-16-6.3 is subject to a referendum if five percent of the registered voters, based upon the total number of registered voters at the last preceding general election, petition, within twenty days thereafter, to have the question of approval to enter into the agreement or issue capital outlay certificates placed upon the ballot at a.
Approval Except as otherwise provided in this section, approval to enter into an agreement or issue capital outlay certificates pursuant to § 13-16-6.3 is subject to a referendum if five percent of the registered voters, based upon the total number of registered voters at the last preceding general election, petition, within twenty days thereafter, to have the question of approval to enter into the agreement or issue capital outlay certificates placed upon the ballot at a.
The board of a school district may issue capital outlay certificates pursuant to §§ 13-16-6.2 and 13-16- 6.3 only if the question of issuing the capital outlay certificates is approved by the voters of the district.
The board of a school district may issue capital outlay certificates pursuant to §§ 13-16-6.2 and 13-16-6.3, with a maturity date in excess of ten years from the date of issuance, only if the question of issuing the capital outlay certificates is approved by the voters of the district.
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