9-40-31 Expenditures from depreciation account--Investment of accumulations.
Expenditures from depreciation account--Investment of accumulations.
accumulating to the depreciation account shall be expended in balancing depreciation in such utility,
or in making any constructions, extensions, or additions thereto. Any such accumulations may be
invested as the governing body may designate, to the same extent and in the same manner as any
other funds of the municipality may be invested as otherwise provided by law; and if invested, the
income from such investment shall be carried into the depreciation account.
Source: SL 1931, ch 194, § 11; SDC 1939, § 45.2411.