South Dakota § 11-11-70 Establishment of capital reserve funds--Moneys paid into funds.

South Dakota Statutes

§ 11-11-70 — Establishment of capital reserve funds--Moneys paid into funds.

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

The authority shall create and establish one or more special funds to be referred to in this chapter as capital reserve funds, and shall pay into each such capital reserve fund:

(1)Any moneys appropriated and made available by the state for the purpose of such fund;

(2)Any proceeds of sale of bonds, to the extent provided in the resolutions of the authority authorizing the issuance thereof; and (3) Any other moneys which may be made available to the authority for the purpose of such fund from any other source or sources.

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The authority shall create and establish one or more special funds to be referred to in this chapter as capital reserve funds, and shall pay into each such capital reserve fund: (1) Any moneys appropriated and made available by the state for the purpose of such fund; (2) Any proceeds of sale of bonds, to the extent provided in the resolutions of the authority authorizing the issuance thereof; and (3) Any other moneys which may be made available to the authority for the purpose of such fund from any other source or sources.

South Dakota § 11-11-70 (Establishment of capital reserve funds--Moneys paid into funds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.