South Dakota § 5-12-52 Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.

South Dakota Statutes

§ 5-12-52 — Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.

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

No bond of the corporation issued, incurred, or created under §§ 5-12-48 to 5-12-61 , inclusive, may be or become a lien, charge, or liability against the State of South Dakota or the authority, nor against the property or funds of the State of South Dakota or the authority within the meaning of the Constitution or statutes of South Dakota. In no event may any of the funds deposited into the education enhancement trust fund be pledged to secure payment of any bonds issued under the authority of §§ 5-12-48 to 5-12-61 , inclusive.

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No bond of the corporation issued, incurred, or created under §§ 5-12-48 to 5-12-61 , inclusive, may be or become a lien, charge, or liability against the State of South Dakota or the authority, nor against the property or funds of the State of South Dakota or the authority within the meaning of the Constitution or statutes of South Dakota. In no event may any of the funds deposited into the education enhancement trust fund be pledged to secure payment of any bonds issued under the authority of §§ 5-12-48 to 5-12-61 , inclusive.

South Dakota § 5-12-52 (Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.