South Dakota § 49-16B-28 Bonds--Statements on face.

South Dakota Statutes

§ 49-16B-28 — Bonds--Statements on face.

South Dakota·Title 49 PUBLIC UTILITIES AND CARRIERS·Ch. 49-16B SOUTH DAKOTA RAILROAD AUTHORITY

Each bond shall state upon its face that it is payable solely from revenues derived by the authority from the operation of facilities acquired, constructed, improved, or equipped in whole or in part with the proceeds of the sale of such bonds, including income to be derived from rental leases as provided in §§ 49-16B-15 to 49-16B-21 , inclusive. Each bond shall state upon its face that it does not constitute an obligation of the State of South Dakota within the meaning of any provisions of the Constitution or statutes of the State of South Dakota.

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Each bond shall state upon its face that it is payable solely from revenues derived by the authority from the operation of facilities acquired, constructed, improved, or equipped in whole or in part with the proceeds of the sale of such bonds, including income to be derived from rental leases as provided in §§ 49-16B-15 to 49-16B-21 , inclusive. Each bond shall state upon its face that it does not constitute an obligation of the State of South Dakota within the meaning of any provisions of the Constitution or statutes of the State of South Dakota.

South Dakota § 49-16B-28 (Bonds--Statements on face.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.