South Dakota § 46A-1-21 Interim financing--Proceeds pledged as security--Assignment to district of rights to proceeds.

South Dakota Statutes

§ 46A-1-21 — Interim financing--Proceeds pledged as security--Assignment to district of rights to proceeds.

South Dakota § 46A-1-21

Title 46AWATER MANAGEMENT

Ch. 46A-1STATE WATER RESOURCES MANAGEMENT

This text of South Dakota § 46A-1-21 (Interim financing--Proceeds pledged as security--Assignment to district of rights to proceeds.) 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 § 46A-1-21 (2026).

Text

Any interim financing arrangement under § 46A-1-18 shall provide that the person or public entity receiving the proceeds of such interim financing shall pledge and dedicate the proceeds of its loan or grant from the United States as security for the interim notes issued pursuant to the financing arrangement. In addition, the execution of any interim financing arrangement under § 46A-1-18 shall constitute an assignment to the district of the right to receive the proceeds of the federal loan or grant so far as is necessary to secure the interim notes issued pursuant to the arrangement and in preference to any other obligation whatsoever of the person or public entity receiving the interim financing.

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Any interim financing arrangement under § 46A-1-18 shall provide that the person or public entity receiving the proceeds of such interim financing shall pledge and dedicate the proceeds of its loan or grant from the United States as security for the interim notes issued pursuant to the financing arrangement. In addition, the execution of any interim financing arrangement under § 46A-1-18 shall constitute an assignment to the district of the right to receive the proceeds of the federal loan or grant so far as is necessary to secure the interim notes issued pursuant to the arrangement and in preference to any other obligation whatsoever of the person or public entity receiving the interim financing.