Policies and Regulations NEPN Code: DCA
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Fiscal Management
Taxing and Borrowing

Bids shall be solicited for all short-term loans exceeding $5 million that the School Board has authorized in order that funds may be borrowed from the responsible organization offering the most favorable terms.

 

Legal References:

SDCL
13-19-1 School board power to borrow on notes--Authorization, issuance, and sale--Maximum term
13-19-2 Amount borrowed on notes limited by anticipated receipts
13-19-3 Borrowing limit reduced by outstanding warrants or notes
13-19-4 Interest rate on notes
13-19-5 Signing of notes
13-19-6 Cash receipts devoted to retirement of warrants and notes when note outstanding
13-19-7 Bonding power of school districts--Purposes for which bonds authorized
13-19-8 Constitutional debt limit to be observed
13-19-8.1 Debt limit of school districts created by reorganization--Readjustment of property, assets, debts and liabilities
13-19-9 Authorization, issuance and sale of bonds--No election

 

Policy   Board Action (formerly 3291.1)
Adopted: 05-28-68    
Amended: 05-10-76    
Amended: 08-14-95 28225  
Amended: 01-09-06 34304  
Reviewed: 11-22-10 35889  
Reviewed: 09-22-14 37011