South Dakota § 1-16B-23 Disposition of refunding obligations--Application or investment of proceeds.

South Dakota Statutes

§ 1-16B-23 — Disposition of refunding obligations--Application or investment of proceeds.

South Dakota·Title 1 STATE AFFAIRS AND GOVERNMENT·Ch. 1-16 ECONOMIC DEVELOPMENT FINANCE AUTHORITY

Refunding obligations may be sold or exchanged for outstanding obligations issued under this chapter, and, if sold, the proceeds may be applied to any authorized purpose or to the purchase, redemption or payment of outstanding obligations. The proceeds from any refunding obligation may be invested by the state investment officer, under the provisions of chapter 4-5 , until they are required for the retirement of outstanding obligations.

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Refunding obligations may be sold or exchanged for outstanding obligations issued under this chapter, and, if sold, the proceeds may be applied to any authorized purpose or to the purchase, redemption or payment of outstanding obligations. The proceeds from any refunding obligation may be invested by the state investment officer, under the provisions of chapter 4-5 , until they are required for the retirement of outstanding obligations.

South Dakota § 1-16B-23 (Disposition of refunding obligations--Application or investment of proceeds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.