Section 11-11-55 - Pledge of assets to secure notes and bonds. - South-dakota Statutes

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11-11-55. Pledge of assets to secure notes and bonds. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract or contracts with the holders thereof, pledging all or any part of the assets of the authority, including mortgages and obligations securing the same, to secure the payment of the notes or bonds or of any issue of notes or bonds, subject to such agreements with noteholders or bondholders as may then exist.

Source: SL 1973, ch 180, § 30 (2); SDCL Supp, § 28-19-46.

State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-55

11-11-55. Pledge of assets to secure notes and bonds. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract or contracts with the holders thereof, pledging all or any part of the assets of the authority, including mortgages and obligations securing the same, to secure the payment of the notes or bonds or of any issue of notes or bonds, subject to such agreements with noteholders or bondholders as may then exist.

Source: SL 1973, ch 180, § 30 (2); SDCL Supp, § 28-19-46.

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State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-55

11-11-55. Pledge of assets to secure notes and bonds. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract or contracts with the holders thereof, pledging all or any part of the assets of the authority, including mortgages and obligations securing the same, to secure the payment of the notes or bonds or of any issue of notes or bonds, subject to such agreements with noteholders or bondholders as may then exist.

Source: SL 1973, ch 180, § 30 (2); SDCL Supp, § 28-19-46.