37-59-115 - Limitation of indebtedness.
§ 37-59-115. Limitation of indebtedness.
The indebtedness incurred under the authority of this article shall not be included in computing the statutory limitation upon the indebtedness which may be incurred by school districts as provided in Article 1 of this chapter, or any other statute, but shall be in addition thereto. The only limitation upon the amount of indebtedness which may be incurred under the provisions of this article shall be that provided in Section 37-59-107.
Sources: Codes, 1942, § 6533-08; Laws, 1953, Ex Sess, ch. 30, § 8, eff from and after July 1, 1954.