South Dakota § 4-5-43 Obligation to purchase--Enforceability.

South Dakota Statutes

§ 4-5-43 — Obligation to purchase--Enforceability.

South Dakota § 4-5-43

Title 4PUBLIC FISCAL ADMINISTRATION

Ch. 4-3CUSTODY AND INVESTMENT OF STATE FUNDS

This text of South Dakota § 4-5-43 (Obligation to purchase--Enforceability.) 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 § 4-5-43 (2026).

Text

The obligation of the State Investment Council to purchase any general obligation funding bonds pursuant to any agreement or arrangement described in § 4-5-40 is not enforceable to the extent that the principal amount of such general obligation funding bonds would cause an eligible participating school district to be in violation of the limitations on indebtedness of school districts provided for in Article XIII, § 4 of the Constitution.

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The obligation of the State Investment Council to purchase any general obligation funding bonds pursuant to any agreement or arrangement described in § 4-5-40 is not enforceable to the extent that the principal amount of such general obligation funding bonds would cause an eligible participating school district to be in violation of the limitations on indebtedness of school districts provided for in Article XIII, § 4 of the Constitution.