SDCL § 46A-7-35: Application of funds from assessment and levy--Priority in distribution.

The funds arising from assessment and levy in any year shall be devoted to the obligations of the district payable from such funds and, as to all obligations payable from the bond and United States contract fund, shall be so devoted in the order of priority of the obligation.

Source: SDC 1939, § 61.0911; SDCL, § 46-15-35; SL 1976, ch 277, § 21.