South Dakota Statutes

§ 13-51A-15 — Pledge of income for security of bonds.

South Dakota·Title 13 EDUCATION·Ch. 13-50A BOARD OF REGENTS REVENUE BONDS

In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to provide that bonds issued under this chapter, subject only to the prior payment of the operation and maintenance expenses of any project, shall be payable from and secured by a pledge of and lien on all or any part of the income and revenues derived from, and to pledge and assign to, or in trust for the benefit of, the holder or holders of bonds issued under this chapter all or any part of the income and revenues derived from:

(1)Fees, rentals, and other charges from students, staff members, and others using or being served by, or having the right to use or the right to be served by, o

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South Dakota § 13-51A-15 (Pledge of income for security of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Berven v. Board of Regents of Education
201 N.W.2d 218 (South Dakota Supreme Court, 1972)
4 case citations

Legislative History

SL 1971, ch 134, § 5, subdiv 2.

Nearby Sections

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