South Dakota § 11-9-39.1 State pledge not to alter rights vested in bondholders until bonds fully discharged.

South Dakota Statutes

§ 11-9-39.1 — State pledge not to alter rights vested in bondholders until bonds fully discharged.

South Dakota § 11-9-39.1

Title 11PLANNING, ZONING AND HOUSING PROGRAMS

Ch. 11-8TAX INCREMENT FINANCING DISTRICTS

This text of South Dakota § 11-9-39.1 (State pledge not to alter rights vested in bondholders until bonds fully discharged.) 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 § 11-9-39.1 (2026).

Text

The State of South Dakota does hereby pledge to and agree with the holders of any bonds issued under this chapter that the state will not alter the rights vested in the bondholders until such bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.

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The State of South Dakota does hereby pledge to and agree with the holders of any bonds issued under this chapter that the state will not alter the rights vested in the bondholders until such bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.