39 chapters · 727 sections in this title.
SDCL § 7-25A-26 Board's authority to issue bonds--Purpose--Limitation
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To undertake, accomplish, and complete any project or projects within the powers granted the board, the board may issue and sell bonds and other forms of indebtedness in such amount as the board may determine, for the purpose of acquiring, constructing, completing, or remodeling,…
SDCL § 7-25A-27 Defeasance of bondholders--Provisions determined by board--Surplus funds
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The board may make such provision with respect to the defeasance of the right, title, and interest of the holders of any of the bonds and obligations of the district in any revenues, funds, or other properties by which such bonds are secured as the board deems appropriate. The bo…
SDCL § 7-25A-28 Bonds constituting legal investments
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Notwithstanding any provisions of any other law to the contrary, all bonds issued under the provisions of this chapter shall constitute legal investments for savings and loans, savings banks, banks, trust companies, insurance companies, personal representatives, trustees, conserv…
SDCL § 7-25A-29 Default not to constitute debt or obligation of local government or state
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A default on the bonds or obligations of a district does not constitute a debt or obligation of a local government or the state. Source: SL 1989, ch 59 , § 29.