SDLRC - Codified Law 0N-13-16 - Works of internal improvement--State indebtedness. 0N-13-16 Works of internal improvement--State indebtedness.

§ 16. Works of internal improvement--State indebtedness. The state may engage in works of internal improvement, any provision in this Constitution, or limitation in § 2 of this article, to the contrary notwithstanding. The indebtedness of the state for the purposes contained in this section shall never exceed one-half of one percent of the assessed valuation of all property in this state and no such indebtedness shall be incurred nor money expended, except upon a two-thirds vote of the members elect in each branch of the Legislature.

History: Section proposed by SL 1918 (SS), ch 35, adopted Nov., 1918.