Title 49 — PUBLIC UTILITIES AND CARRIERS
61 chapters · 1,170 sections in this title.
SDCL § 49-39-1 Authority to borrow--Funds available for repayment--Security for loan
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Any district organized under chapter 49-35 may borrow money and incur indebtedness for any corporate use or purpose. Any indebtedness, liability, or obligation of the district for the payment of money, in whatever manner entered or incurred, and whether arising from contract, imp…
SDCL § 49-39-10 Default on bonds--Court appointment of receiver--Authority of receiver to operate district--Discharge of receiver and return of district to control
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The board of directors of any consumers power district issuing revenue debentures, notes, warrants, or other evidences of indebtedness, under this chapter, is hereby also authorized and empowered to agree and contract with the purchasers or holders thereof that in the event of de…
SDCL § 49-39-11 Pledges of revenues and refunding securities--Validation--Retroactive application
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Sections 49-39-2 and 49-39-4 are retroactive and are effective as to any resolution or agreement adopted by any consumers power district with the purchasers or holders of revenue debentures, notes, warrants, bonds or other evidences of indebtedness heretofore or hereafter adopted…
SDCL § 49-39-2 Pledging revenues as security for borrowing
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Any consumers power district issuing revenue debentures, notes, warrants, bonds or other evidences of indebtedness is specifically authorized and empowered to pledge all or any part of the revenues which the district may derive from the sale of electrical energy or other service …
SDCL § 49-39-3 Resolution specifying particular revenues pledged
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Any resolution or agreement pursuant to § 49-39-2 may specify the particular revenues that are pledged and the terms and conditions to be performed by the district and the rights of the holders of such revenue debentures, notes, warrants, bonds, or other evidences of indebtedness…
SDCL § 49-39-4 Refunding of indebtedness--Issuance of refunding securities--Disposition of proceeds
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A resolution or agreement pursuant to § 49-39-2 may further provide for the refunding of any revenue debentures, notes, warrants, bonds or other evidences of indebtedness through the issuance of other revenue debentures, notes, warrants, bonds or other evidences of indebtedness. …
SDCL § 49-39-5 Payment of pledged revenues into special fund--Use of revenues--Designation of depository
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Any resolution or agreement pursuant to § 49-39-2 may provide that all or any part of the revenues of the district shall be paid into a special fund, and may set forth all the terms and conditions on which such special fund is to be collected, held and disposed of, whether partly…
SDCL § 49-39-6 Sale of bonds
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All bonds of any consumers power district, whether issued to incur new indebtedness, or to refund or refinance existing indebtedness, shall be sold or negotiated for the benefit of the district by the directors in such manner as to them shall appear to be for the advantage, benef…
SDCL § 49-39-6.1 Issuance of variable rate obligations--Authorization by resolution--Scope
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The issuance of variable rate obligations shall be authorized by resolution, order or ordinance of the board of directors of the district, which resolution, order or ordinance shall fix the maximum amount of obligations to be issued or, if applicable, the maximum principal amount…
SDCL § 49-39-6.2 Enhancement of security for variable rate obligations--Credit agreements--Payment of costs
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The board of directors of the district may enter into credit agreements in conjunction with the issuance, payment, sale, resale, or exchange of obligations to enhance the security for or provide for the payment, redemption, or remarketing of the variable rate obligations and inte…
SDCL § 49-39-7 Agreement with bondholders respecting charges for electricity
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The directors of any district organized under the provisions of chapter 49-35 are authorized to agree with the holders of any such revenue debentures, notes, warrants, bonds, or other evidences of indebtedness, as to the rates which such district shall charge and collect for elec…
SDCL § 49-39-8 Pledging revenues to secure federal indebtedness--State not liable
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Nothing contained in chapters 49-35 to 49-40 , inclusive, shall prevent the district from assigning, pledging, or otherwise hypothecating, its revenues, incomes, receipts or profits to secure the payment of indebtedness to the federal government; provided, that the State of South…
SDCL § 49-39-9 Default on bonds--Operation of district by creditors--Priority of payment--Restoration of district to control
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In order to protect and safeguard the security and the rights of the purchasers or holders of revenue debentures, notes, warrants, or other evidences of indebtedness, issued by any consumers power district under this chapter, such district may agree with such purchasers or holder…