SDLRC - Codified Law 0N-8-13 - Audit of losses to permanent educational funds--Permanent debt--Interest. 0N-8-13 Audit of losses to permanent educational funds--Permanent debt--Interest.

§ 13. Audit of losses to permanent educational funds--Permanent debt--Interest. The permanent school or other educational and charitable funds of this state shall be audited by the proper authorities of the state. If any loss occurs through any unconstitutional act, the state shall make the loss good through a special appropriation. The amount of indebtedness so created shall not be counted as a part of the indebtedness mentioned in article XIII, 2.

History: Repeal proposed by SL 1975, ch 4, rejected Nov. 2, 1976; amendment proposed by SL 1998, ch 3, rejected Nov. 3, 1998; amendment proposed by SL 2000, ch 1, § 6, approved Nov. 7, 2000.