South Dakota Codified Laws 1-16A-48. Additional bonds for facilities or HEAL loans–Protection of prior bondholders
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Issuance by the authority of one or more series of bonds for one or more purposes shall not preclude it from issuing other bonds in connection with the same facilities or HEAL loans or any other facilities or HEAL loans or any other purpose hereunder, but the resolutions or trust indenture whereunder any subsequent bonds may be issued shall recognize and protect any prior pledge or mortgage made for any prior issue of bonds.
Terms Used In South Dakota Codified Laws 1-16A-48
- Authority: means the South Dakota Health and Educational Facilities Authority created by this chapter. See South Dakota Codified Laws 1-16A-2
- HEAL loans: means loans to finance the graduate education of health professionals, which have been made pursuant to the Federal Health Education Assistance Loan Program created pursuant to P. 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, § 11; SL 1982, ch 10, § 10.