South Dakota Codified Laws 1-16A-24. Mortgages for security of bondholders
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to mortgage all or any portion of the facilities and the site or sites thereof, whether then owned or thereafter acquired, for the benefit of the holders of bonds issued to finance such facilities or any portion thereof.
Terms Used In South Dakota Codified Laws 1-16A-24
- Authority: means the South Dakota Health and Educational Facilities Authority created by this chapter. See South Dakota Codified Laws 1-16A-2
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1972, ch 10, § 7 (12).