South Dakota Codified Laws 1-16A-87. Program for issuance of bonds or certificates of participation that constitute debt of participating agencies–Secured for payment by proceeds of irrepealable tax levies
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In addition to the authorization granted by § 1-16A-86, the authority may establish a program for, or issue or assist others in the issuance of, bonds, certificates of participation or other instruments that directly or indirectly constitute a debt or other obligation of one or more participating public agencies and which may be secured directly or indirectly by the proceeds of irrepealable tax levies of the participating public agencies.
Terms Used In South Dakota Codified Laws 1-16A-87
- Authority: means the South Dakota Health and Educational Facilities Authority created by this chapter. See South Dakota Codified Laws 1-16A-2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Source: SL 1991, ch 11, § 11.