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CHAPTER 127.

(S. B. 348.)

EXEMPTING STATE HIGHWAY BONDS FROM TAXATION.

AN ACT Entitled, An Act Relating to Bonds Issued by the State Highway_Commission and Exempting the Same from all Taxes and Declaring an Emergency.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That all bonds heretofore or hereafter issued by the State Highway Commission shall be free from all general, State, county and municipal taxes and shall not be subject to any State Income Tax.

Section 2. Whereas, this Act is necessary for the immediate support of the State Government and its existing public institutions, an emergency is hereby declared to exist, and this Act shall be in full force and effect from and after its passage and approval. Approved March 10, 1921.

CHAPTER 128.

(H. B. 327.)

RELATING TO STATE BRIDGE TAX.

AN ACT Entitled, An Act Relating to Bridges, Authorizing and Directing the Tax Commission to Levy an Annual Tax Therefor.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. State Bridge Levy.] The Tax Commission is authorized and directed to levy annually a tax of one tenth of a mill upon the assessed valuation of all taxable property in the State, to provide a special fund in the State Treasury to be known as the State Bridge Fund. All moneys received by the State Treasurer, pursuant to such levy, shall be placed in such fund and be used and expended for the construction and maintenance of State Bridges, in such manner as the legislature may hereafter direct.

Approved March 4, 1921.

CHAPTER 129.

(H. B. 128.)

RELATING TO TAX SALE NOTICE.

AN ACT Entitled, An Act to Amend Section 6785 of the South Dakota Revised Code of 1919, Relating to the Giving of Notices of Tax Sales and the Publication Fees Therefor.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That Section 6785 of the South Dakota Revised Code of 1919 be and the same is hereby amended to read as follows:

Section 6785. Notice of Sale, Contents, Publication, Etc.] The Treasurer shall give notice of the sale of real property by publication thereof once each week for three consecutive weeks next preceding the sale in the official newspapers of the county as designated by the Board of County Commissioners, if there be any, and if there be no newspaper published in the county, he shall give notice by written or printed notice posted at the door of the court house or building in which the Circuit Court is commonly held, or the usual place of meting of the County Commissioners, for three weeks previous to the sale. Such notice shall contain a notification that all lands on which the taxes of the preceding year or years remain unpaid will be sold, and the time and place of the sale and such notice must contain a list of the lands to be sold, the name of the parties to whom they are assessed, and the amount of the taxes, both real and personal, due; provided, that when any real property not exceeding twenty-five dollars in assessed value shall have been advertised in a newspaper for two successive years, and not sold, the Treasurer shall give notice of the sale of such property by posting a written notice in the manner provided when there is no newspaper published in the county, and the same shall not be advertised in a newspaper. The County Treasurer shall charge and collect, in addition to the taxes and interest and penalty, the sum of seventy-five cents ($75) on each tract of real property and on each town lot advertised for sale, which sum shall be paid into the County Treasury, and the county shall pay the cost of publication. Each official newspaper in which any such notice is published, whether there be one, two or three such newspapers, shall receive one third of the total sum charged to the delinquent lands for advertising.

Approved February 16, 1921.

CHAPTER 130.

(H. B. 21.)

RELATING TO THE TIME FOR PROCURING TAX DEEDS.

AN ACT Entitled, An Act to Amend Section 6806 of the South Dakota Revised Code of 1919, Relating to the Time in Which Proceedings to Procure Tax Deed Must be Commenced and Completed.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That Section 6806 of the South Dakota Revised Code of 1919 be and the same is hereby amended to read as follows:

Section 6806. Time in which Proceedings to Procure Must be Commenced and Completed.] In all cases where procedings to procure a tax deed are not commenced within six years from the date of the tax sale certificate on which such proceedings are based, such tax sale certificate, the lien for taxes, the lien of any taxes paid by the holder of such tax sale certificate as subsequent taxes, and all rights thereunder shall cease and be forever barred, and the County Treasurer is authorized and it shall be his duty to cancel such certificate on his record and to note on the sale records and the tax books of his office the fact that such tax sale certificate and the lien of such subsequent tax receipts held by the owner of such tax sale certificate are barred and of no validity: Provided, that this section shall not apply to tax sale certificates so long as they are held by the county, and that when any such certificate is assigned by the county, which is dated more than four years preceding the date of its assignment, the purchaser thereof shall have one year from the date of its assignment within which to commence proceedings to procure a tax deed. Provided further, that the commencement of proceedings to procure a tax deed within the periods hereinbefore limited shall not operate to extend the lien of the holder of such tax sale certificates more than six months beyond the expiration of such periods of limitation; and if any such proceedings, commenced within the time limited by this section, be not completed, and the right of the party instituting such proceedings to receive a tax deed under the provisions of Section 6804 of this Code be not fully completed and established, within six months after the expiration of six years from the date of the tax sale certificate upon which such proceedings are based; allowing, however, to purchasers of tax sale certificates assigned by the county the period of one year from the date of the assignment within which to commence such proceedings and six months after the expiration of such period of one year within which to complete the same; then all rights under such proceedings shall cease and be forever barred and it shall be the duty of the County Treasurer to cancel said tax sale certificate in the manner hereinbefore provided, and thereupon the lien of the holder of such tax sale certificate shall be extinguished and all further proceeding thereon shall be barred.

Section 2. That in case of a tax certificate issued more than six years prior to the date when this Act takes effect, such proceedings shall be completed within two years after the date on which this Act takes effect.

Approved February 1, 1921.

CHAPTER 131.

(S. B. 151.)

RELATING TO ASSESSMENT IN UNORGANIZED COUNTIES.

AN ACT Entitled, An Act Relating to the Formation of Assessment Districts in Unorganized Counties. Providing for the Appointment of Assessors, Defining Their Duties, Fixing Their Salaries, and Declaring an Emergency.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. Each unorganized county within this State having a population of not less than five hundred persons, as shown by the last Federal or State census, shall be deemed an independent taxing district, subject to the provisions of this Act.

Section 2. Not later than the fifteenth day of April, 1921, and not later than the first day of January of each odd numbered year thereafter, the County Commissioners of the county to which such unorganized county is attached, shall appoint a competent and suitable person as assessor in each unorganized county within this State, as defined in Section 1 of this Act, who shall be resident of the unorganized county for which he is appointed, and shall serve for a term of two years, or until his successor is appointed and shall qualify. If any person so appointed fails to take the oath or furnish the bond hereinafter required, within the time prescribed, such failure shall be deemed a refusal to serve and the office shall be deemed vacant. In case of vacancy by failure to qualify, resignation or otherwise, the office shall be filled by appointment as herein provided, for the unexpired term.

Section 3. Each person appointed as assessor for any unorganized county under the provisions of this Act, shall, within fifteen days after receiving notice of his appointment, and before entering upon the duties of the office, take, subscribe and file with the Secretary of State, the oath of office prescribed by the Constitution of this State and shall execute and file a bond in a penal sum of five hundred dollars for the faithful performance of the duties of the office, running to the State of South Dakota, with good and sufficient surety thereon.

Section 4. The assessor in each unorganized county as provided for in this Act, shall not later than the first day of July each year, file with the County Auditor of the county to which such unorganized county is attached for judicial and other purposes, a complete return as the same is now required of county, city, town and township asses

sors.

Section 5. Each assessor provided for by this Act, shall receive not to exceed five dolars per day for the time actually and necessarily employed in making and completing the assessment. Provide, that he shall receive not to exceed two hundred dollars as per diem for such work in any one year. Provide, however, that in addition to the per diem that he shall receive, he shall be paid for the necessary expense incurred while performing the duties of his office, such per diem and expense to be paid from the proper fund in the hands of the County Treasurer, belonging to such unorganized county, upon vouchers properly drawn on any funds available for such purposer

Approved March 8, 1921.

Banks and Banking

CHAPTER 132.

(H. B. 365.)

SUBMITTING TO A VOTE OF THE PEOPLE INITIATED MEASURE DECLARING THE PURPOSE OF THE STATE TO ENGAGE IN THE BANKING BUSINESS UNDER THE NAME OF THE BANK OF SOUTH DAKOTA.

AN ACT Entitled, An Act Enacting and Submitting to a Vote of the Electors of the State a Proposed Law entitled "An Act Declaring the Purpose of the State of South Dakota to Engage in the Banking Business and to Establish a System of Banking Under the Name of the Bank of South Dakota, Operated by the State, and Defining the Scope and Manner of its Operation and the Powers and Duties of the Persons Charged With its Management; Making an Appropriation Therefor; and Providing Penalties for the Violations of Certain Provisions Thereof."

Whereas Under the Provisions of Section 1 of Article 3 of the Constitution of the State of South Dakota and Sections 5067 to 5074 Inclusive of the South Dakota Revised Code of 1919 a Petition has been Filed in the Office of the Secretary of State, Signed by More Than Five Per Centum of the Qualified Electors of the State in the Manner and Form Therein Directed, Petitioning that the Following Proposed Law be Enacted and Submitted to a Vote of the Electors of the State at the Next General Election, Certified Copies of Said Petition Having Been Transmitted to the Senate and House of Representatives by the Secretary of State.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That the following Act be and the same is hereby enacted and submitted to a vote of the electors of the State at the next general election to be held in the year 1922, for their approval.

An Act declaring the purpose of the State of South Dakota to engage in the Banking Business and to establish a system of banking under the name of the Bank of South Dakota, operated by the State and defining the scope and manner of its operation and the powers and duties of the persons charged with its management; making an appropriation therefor; and providing penalties for the violations of certain provisions thereof.

BE IT ENACTED BY THE PEOPLE OF SOUTH DAKOTA:

Section 1. For the purpose of developing the resources and improving the economic facilities of South Dakota, the State of South Dakota shall engage in the business of banking, and for that purpose shall, and does hereby, establish a system of banking owned, controlled and operated by it, under the name of the Bank of South Dakota.

Section 2. A commission is hereby created and established to conduct and manage, on behalf of the State of South Dakota, the system of banking hereby established by it. It shall be known as the Industrial Commission of South Dakota, but may be designated as the Industrial Commission. The Industrial Commission shall consist of three members, namely:

The Governor, the Attorney General, and the State Auditor, of the State of South Dakota. Two members shall constitute a quorum for the transaction of business. The first meeting of the Commission shall be held in the office of the Governor. Its meetings thereafter shall be

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