South Dakota Statutes
§ 46A-18-66 — Pledge of security for obligations--Revenue.
A district may pledge security for any district obligations. Any district issuing obligations under the provisions of this chapter may pledge all or any part of the revenues which the district may derive from the sale, conveyance, or distribution of water or other services as security for payment of the principal and interest. Any pledge of revenues shall be made by the directors of the district by resolution or by agreement with the holders of district obligations. Any resolution or agreement may specify the particular revenues that are pledged, the terms and conditions to be performed by the district and the rights of the holders of district obligations and may provide for priorities of liens on any revenues between holders of district obligations issued at different times or under diffe
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South Dakota § 46A-18-66 (Pledge of security for obligations--Revenue.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1984, ch 293, § 65.
Nearby Sections
15
§ 46A-1-1
Legislative findings and policy.§ 46A-1-100
Definition of terms.§ 46A-1-102
Disbursement and administration of money from subfunds--Rules--Application of provisions.§ 46A-1-103
Promulgation of rules by board--Content.§ 46A-1-13
Presentation of cost data to Governor and Legislature--Requests for financing authorization.§ 46A-1-13.10
Lewis and Clark Rural Water System authorized.§ 46A-1-13.11
Southern Black Hills Water System authorized.§ 46A-1-13.12
Belle Fourche irrigation upgrade project authorized.