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28 chapters · 949 sections in this title.
SDCL § 46A-1-40 Additional covenants to secure bonds or make them more marketable
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The district may covenant to perform any act and to do anything as may be necessary or convenient or desirable in order to secure its bonds, or as may in the judgment of the district tend to make the bonds more marketable, notwithstanding that such acts or things may not be enume…
SDCL § 46A-1-41 State general obligation not to be created
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Nothing in this chapter shall be construed to authorize the district to contract a debt on behalf of, or in any way to obligate, the State of South Dakota, or to pledge, assign, or encumber in any way, or to permit the pledging, assigning, or encumbering in any way, of appropriat…
SDCL § 46A-1-42 Bonds not a state obligation--Payment restricted to revenues
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Any bonds issued pursuant to this chapter are obligations of the district payable only in accordance with the terms of the bonds and are not obligations general, special, or otherwise, of the State of South Dakota. Such bonds do not constitute a debt, legal or moral, of the State…
SDCL § 46A-1-43 Recording not required for bond protection
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Neither the resolution authorizing the bonds nor any financing statement or other instrument or document need be filed or recorded in any public records in order to perfect the lien on the pledge of the revenues to pay the bonds as against third parties. Source: SL 1972, ch 241 ,…
