Section 11-11-98 - Investment of surplus funds of authority--Securities authorized. - South-dakota Statutes

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11-11-98. Investment of surplus funds of authority--Securities authorized. The authority shall have the power, as necessary or convenient to carry out and effectuate the purposes and provisions of this chapter and subject to any agreement with bondholders or noteholders, to invest moneys of the authority, including proceeds from the sale of any bonds or notes, in:
(1) Direct obligations of or obligations guaranteed as to principal and interest by the United States of America or the State of South Dakota;
(2) Obligations issued by the government national mortgage association, bonds, notes, or other obligations issued by any federal land bank, bank for cooperatives, federal intermediate credit banks, or any or all of the federal farm credit banks, obligations issued by the federal home loan bank system or by the federal national mortgage association;
(3) Negotiable or nonnegotiable certificates of deposit issued by any bank as defined in subdivision 51A-1-2(2) or any federally chartered bank located within the state which is insured by the Federal Deposit Insurance Corporation, if then in existence;
(4) Any other obligations of the state or of the United States of America or any agency or instrumentality of either thereof which may then be purchased with funds belonging to the state or held in the state treasury; or
(5) Such securities and deposit accounts as are permissible for the investment of state public funds by the state investment officer under the provisions of § 4-5-26.

Source: SL 1973, ch 180, § 12 (17); SDCL Supp, § 28-19-89; SL 1974, ch 195, § 1; SL 1979, ch 37, § 5.

State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-98

11-11-98. Investment of surplus funds of authority--Securities authorized. The authority shall have the power, as necessary or convenient to carry out and effectuate the purposes and provisions of this chapter and subject to any agreement with bondholders or noteholders, to invest moneys of the authority, including proceeds from the sale of any bonds or notes, in:
(1) Direct obligations of or obligations guaranteed as to principal and interest by the United States of America or the State of South Dakota;
(2) Obligations issued by the government national mortgage association, bonds, notes, or other obligations issued by any federal land bank, bank for cooperatives, federal intermediate credit banks, or any or all of the federal farm credit banks, obligations issued by the federal home loan bank system or by the federal national mortgage association;
(3) Negotiable or nonnegotiable certificates of deposit issued by any bank as defined in subdivision 51A-1-2(2) or any federally chartered bank located within the state which is insured by the Federal Deposit Insurance Corporation, if then in existence;
(4) Any other obligations of the state or of the United States of America or any agency or instrumentality of either thereof which may then be purchased with funds belonging to the state or held in the state treasury; or
(5) Such securities and deposit accounts as are permissible for the investment of state public funds by the state investment officer under the provisions of § 4-5-26.

Source: SL 1973, ch 180, § 12 (17); SDCL Supp, § 28-19-89; SL 1974, ch 195, § 1; SL 1979, ch 37, § 5.

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State Codes and Statutes

Statutes > South-dakota > Title-11 > Chapter-11 > Statute-11-11-98

11-11-98. Investment of surplus funds of authority--Securities authorized. The authority shall have the power, as necessary or convenient to carry out and effectuate the purposes and provisions of this chapter and subject to any agreement with bondholders or noteholders, to invest moneys of the authority, including proceeds from the sale of any bonds or notes, in:
(1) Direct obligations of or obligations guaranteed as to principal and interest by the United States of America or the State of South Dakota;
(2) Obligations issued by the government national mortgage association, bonds, notes, or other obligations issued by any federal land bank, bank for cooperatives, federal intermediate credit banks, or any or all of the federal farm credit banks, obligations issued by the federal home loan bank system or by the federal national mortgage association;
(3) Negotiable or nonnegotiable certificates of deposit issued by any bank as defined in subdivision 51A-1-2(2) or any federally chartered bank located within the state which is insured by the Federal Deposit Insurance Corporation, if then in existence;
(4) Any other obligations of the state or of the United States of America or any agency or instrumentality of either thereof which may then be purchased with funds belonging to the state or held in the state treasury; or
(5) Such securities and deposit accounts as are permissible for the investment of state public funds by the state investment officer under the provisions of § 4-5-26.

Source: SL 1973, ch 180, § 12 (17); SDCL Supp, § 28-19-89; SL 1974, ch 195, § 1; SL 1979, ch 37, § 5.