South Dakota § 49-39-8 Pledging revenues to secure federal indebtedness--State not liable.

South Dakota Statutes

§ 49-39-8 — Pledging revenues to secure federal indebtedness--State not liable.

South Dakota § 49-39-8

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-39CONSUMERS POWER DISTRICT BORROWING AND INDEBTEDNESS

This text of South Dakota § 49-39-8 (Pledging revenues to secure federal indebtedness--State not liable.) 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 § 49-39-8 (2026).

Text

Nothing contained in chapters 49-35 to 49-40 , inclusive, shall prevent the district from assigning, pledging, or otherwise hypothecating, its revenues, incomes, receipts or profits to secure the payment of indebtedness to the federal government; provided, that the State of South Dakota shall never pledge its credit or funds, or any part thereof, for the payment of settlement of any indebtedness or obligation whatsoever of any district created under the provisions of chapter 49-35 .

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Nothing contained in chapters 49-35 to 49-40 , inclusive, shall prevent the district from assigning, pledging, or otherwise hypothecating, its revenues, incomes, receipts or profits to secure the payment of indebtedness to the federal government; provided, that the State of South Dakota shall never pledge its credit or funds, or any part thereof, for the payment of settlement of any indebtedness or obligation whatsoever of any district created under the provisions of chapter 49-35 .