South Dakota § 6-20-5 Funds available for payment of bonds--Pledge of revenue from future facilities.

South Dakota Statutes

§ 6-20-5 — Funds available for payment of bonds--Pledge of revenue from future facilities.

South Dakota § 6-20-5

Title 6LOCAL GOVERNMENT GENERALLY

Ch. 6-20AIRPORT REVENUE BONDS

This text of South Dakota § 6-20-5 (Funds available for payment of bonds--Pledge of revenue from future facilities.) 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 § 6-20-5 (2026).

Text

The revenue bonds authorized by this chapter shall be payable solely from the revenues described in the resolution or ordinance initially adopted, except that the resolution or ordinance may also pledge therefor the revenues of any other facilities to be acquired in future, and may authorize or may limit the issuance of additional bonds, payable from the same revenues on a parity with the original issue or subordinate thereto, upon conditions as may be prescribed. The bonds shall be payable solely from the revenues defined and pledged in the initial resolution, and no other funds or revenues or property of the municipality or county may be used to pay the bonds or interest thereon except as may be otherwise required by law or by the Constitution.

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The revenue bonds authorized by this chapter shall be payable solely from the revenues described in the resolution or ordinance initially adopted, except that the resolution or ordinance may also pledge therefor the revenues of any other facilities to be acquired in future, and may authorize or may limit the issuance of additional bonds, payable from the same revenues on a parity with the original issue or subordinate thereto, upon conditions as may be prescribed. The bonds shall be payable solely from the revenues defined and pledged in the initial resolution, and no other funds or revenues or property of the municipality or county may be used to pay the bonds or interest thereon except as may be otherwise required by law or by the Constitution.