Section 11-11-56 - Limitations on application of proceeds of notes and bonds. - South-dakota Statutes

State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-56

11-11-56. Limitations on application of proceeds of notes and bonds. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain limitations, which shall be a part of the contract or contracts with the holders thereof, on the purpose to which the proceeds of sale of notes or bonds may be applied and pledging such proceeds to secure the payment of the notes or bonds or of any issue thereof.

Source: SL 1973, ch 180, § 30 (5); SDCL Supp, § 28-19-47.

State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-56

11-11-56. Limitations on application of proceeds of notes and bonds. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain limitations, which shall be a part of the contract or contracts with the holders thereof, on the purpose to which the proceeds of sale of notes or bonds may be applied and pledging such proceeds to secure the payment of the notes or bonds or of any issue thereof.

Source: SL 1973, ch 180, § 30 (5); SDCL Supp, § 28-19-47.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-56

11-11-56. Limitations on application of proceeds of notes and bonds. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain limitations, which shall be a part of the contract or contracts with the holders thereof, on the purpose to which the proceeds of sale of notes or bonds may be applied and pledging such proceeds to secure the payment of the notes or bonds or of any issue thereof.

Source: SL 1973, ch 180, § 30 (5); SDCL Supp, § 28-19-47.