South Dakota § 5-12-25 Restrictions on obligation stated on face of bonds.

South Dakota Statutes

§ 5-12-25 — Restrictions on obligation stated on face of bonds.

South Dakota·Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS·Ch. 5-11 SOUTH DAKOTA BUILDING AUTHORITY

Each such bond shall state upon its face that it is payable solely from revenues derived by the Building Authority from the operation of facilities acquired, constructed, completed, remodeled, 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 §§ 5-12-13 to 5-12-18 , inclusive. Each such 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.

Free access — add to your briefcase to read the full text and ask questions with AI

Each such bond shall state upon its face that it is payable solely from revenues derived by the Building Authority from the operation of facilities acquired, constructed, completed, remodeled, 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 §§ 5-12-13 to 5-12-18 , inclusive. Each such 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 § 5-12-25 (Restrictions on obligation stated on face of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.