South Dakota Statutes
§ 42-7B-54 — Anticipatory revenue bonds.
South Dakota·Title 42 RECREATION AND SPORTS·Ch. 42-6 LIMITED CARD GAMES, SLOT MACHINES, CRAPS, ROULETTE, AND KENO
The City of Deadwood may issue revenue bonds in anticipation of the receipt of net municipal proceeds as provided in subdivision 42-7B-48 (3). The proceeds of the sale of such revenue bonds shall be deposited in the Deadwood historic restoration and preservation fund and used for the purposes thereof. The revenue bonds shall be payable solely from the net municipal proceeds, and the city shall, in the ordinance or resolution authorizing the revenue bonds, irrevocably pledge and appropriate so much of the net municipal proceeds received by the city as may be necessary for the payment of the revenue bonds and the restoration of any reserves established in connection with the bonds. The principal amount of any issue of revenue bonds may not exceed the sum of the estimated capital needs of the
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Legislative History
SL 1990, ch 344, § 3; SL 2021, ch 49, § 18.
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