South Dakota § 13-51A-7 Security for payment of interim notes--Sources of payment.

South Dakota Statutes

§ 13-51A-7 — Security for payment of interim notes--Sources of payment.

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

All such notes and the interest thereon may be secured by a pledge of any income and revenue derived by the institution from the project (subject to the prior payment of the operation and maintenance expenses of any project) to be undertaken with the proceeds of the notes and shall be payable solely from such income and revenue and from the proceeds to be derived from the sale of any revenue bonds for permanent financing authorized to be issued under this chapter, and from the project acquired with the proceeds of the notes.

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All such notes and the interest thereon may be secured by a pledge of any income and revenue derived by the institution from the project (subject to the prior payment of the operation and maintenance expenses of any project) to be undertaken with the proceeds of the notes and shall be payable solely from such income and revenue and from the proceeds to be derived from the sale of any revenue bonds for permanent financing authorized to be issued under this chapter, and from the project acquired with the proceeds of the notes.

South Dakota § 13-51A-7 (Security for payment of interim notes--Sources of payment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.