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

South Dakota Statutes

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

South Dakota·Title 4 PUBLIC FISCAL ADMINISTRATION·Ch. 4-3 CUSTODY AND INVESTMENT OF STATE FUNDS

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

South Dakota § 4-5-43 (Obligation to purchase--Enforceability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.