South Dakota Statutes
§ 46A-9-66 — Debt service fund--Transfer of balance from water fund--Moneys pledged for payment of evidences of indebtedness.
The board of directors shall provide in the proceedings authorizing the issuance of each series of bonds, warrants, notes, debentures, or other evidences of indebtedness or in the trust indenture securing the same, for paying into the appropriate debt service fund at stated intervals all moneys then remaining in the water fund, after paying all costs of operation, maintenance, and repairs of the works and all administrative and clerical expenses of the water user district. All moneys in each debt service fund shall be pledged for the payment of and used for the purpose of paying the interest, principal, and the necessary fiscal agency charges upon the bonds, warrants, notes, debentures, or other evidences of indebtedness as the same shall fall due.
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South Dakota § 46A-9-66 (Debt service fund--Transfer of balance from water fund--Moneys pledged for payment of evidences of indebtedness.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1939, ch 291, § 16; SDC Supp 1960, § 61.1316 (4); SDCL, § 46-16-64.
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.