59 chapters · 1,120 sections in this title.
SDCL § 9-40-22 Payment of purchase price by issuance of bonds
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Any contract for the purchase, construction, or acquisition of a utility may provide that payment therefor shall be made in revenue bonds issued pursuant to this chapter. Source: SL 1931, ch 194 , § 5; SDC 1939, § 45.2405; SL 1982, ch 75 , § 8; SL 1984, ch 43 , § 80.
SDCL § 9-40-23 Bonds set apart for payment of underlying debt--Income set aside for debt retirement
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The governing body may also set apart bonds hereunder authorized equal to the amount of any lien, secured debt, or charge then subsisting against any utility at the time of the purchase or acquisition of such utility pursuant to this chapter, and shall set aside for interest and …
SDCL § 9-40-24 Exchange of bonds for underlying debt--Application of proceeds to debt
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Bonds may be issued and negotiated subject to this chapter, in exchange for or in satisfaction of an underlying lien, debt, or charge on the utility, and the proceeds applied in payment of the same at or before maturity of the underlying lien or debt. Source: SL 1931, ch 194 , § …
SDCL § 9-40-25 Bondholders' statutory mortgage on utility--Disposition of utility prohibited until bonds retired
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There shall be a statutory mortgage lien upon such utility and the extensions, additions, and improvements thereto acquired pursuant to this chapter, in favor of and for the equal benefit of the lawful holders of bonds issued pursuant to this chapter and interest coupons and each…