South Dakota Statutes

§ 11-11-54 — Bond resolution provisions--Contracts with bondholders.

South Dakota·Title 11 PLANNING, ZONING AND HOUSING PROGRAMS·Ch. 11-8 SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY

Any resolutions authorizing any bonds or any issue thereof may contain any of the following provisions, each of which shall be a part of the contracts with the holders thereof:

(1)Pledging all or any part of the revenues of the authority to secure the payment of the bonds or of any issue thereof, subject to such agreements with bondholders as may then exist;
(2)Pledging all or any part of the assets of the authority, including mortgages and obligations securing the same, to secure the payment of the bonds or of any issue of bonds, subject to such agreements with bondholders as may then exist;
(3)Limiting the purpose to which the proceeds of sale of bonds may be applied and pledging such proceeds to secure the payment of the bonds or of any issue thereof;
(4)Limiting the iss

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South Dakota § 11-11-54 (Bond resolution provisions--Contracts with bondholders.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1973, ch 180, § 30 (1); SDCL Supp, § 28-19-45; SL 2012, ch 78, § 29.

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