7-21-33 Uncollected taxes not considered asset in computing debt limitation.
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Uncollected taxes not considered asset in computing debt limitation.
shall be necessary to compute the indebtedness of a county or of any of its institutions or agencies,
for bonding or other indebtedness purposes, delinquent taxes and taxes levied for the purposes set
forth in the budget of the county shall not be considered an asset, but shall be deemed for such
purposes to have been already pledged and expended for the purposes, objects, and items set forth
in the budget; provided however, that all taxes levied for the payment and redemption of bonds,
warrants, or other public debts, shall be deemed a competent and sufficient asset to be considered
in the calculation of any constitutional or statutory limitation.
Source: SL 1927, ch 79, § 20; SDC 1939, § 12.2019.
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