South Dakota § 1-16J-15 Pledge by state not to impair rights and remedies of holders of bonds and notes.

South Dakota Statutes

§ 1-16J-15 — Pledge by state not to impair rights and remedies of holders of bonds and notes.

South Dakota § 1-16J-15

Title 1STATE AFFAIRS AND GOVERNMENT

Ch. 1-16JSOUTH DAKOTA ELLSWORTH DEVELOPMENT AUTHORITY

This text of South Dakota § 1-16J-15 (Pledge by state not to impair rights and remedies of holders of bonds and notes.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 1-16J-15 (2026).

Text

The State of South Dakota pledges to and agrees with the holders of the revenue bonds and notes of the authority issued pursuant to this chapter that the state will not limit or decrease the rights and powers vested in the authority by this chapter so as to impair the terms of any contract made by the authority with such holders or in any way impair the rights and remedies of such holders until such revenue bonds, notes, or other instruments, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of such holders, are fully met and discharged. The authority may include these pledges and agreements of the state in any contract with the holders of revenue bonds, notes, or oth

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The State of South Dakota pledges to and agrees with the holders of the revenue bonds and notes of the authority issued pursuant to this chapter that the state will not limit or decrease the rights and powers vested in the authority by this chapter so as to impair the terms of any contract made by the authority with such holders or in any way impair the rights and remedies of such holders until such revenue bonds, notes, or other instruments, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of such holders, are fully met and discharged. The authority may include these pledges and agreements of the state in any contract with the holders of revenue bonds, notes, or other instruments issued pursuant to this section.