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

South Dakota Statutes

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

South Dakota § 49-16B-28

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-16BSOUTH DAKOTA RAILROAD AUTHORITY

This text of South Dakota § 49-16B-28 (Bonds--Statements on face.) 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 § 49-16B-28 (2026).

Text

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.