South Dakota Codified Laws > Title 9 > Chapter 41 – Municipal Telephone Systems


§ 9-41-1	Power of municipality to establish and operate telephone system–Connection andjoint operation with rural telephone system
§ 9-41-1.1	Purchase of equipment for resale
§ 9-41-2	Revenue bonds authorized–Issuance–Sale–Segregated revenue or income
§ 9-41-3	Additional bonds authorized when original issue insufficient–Priority of issues
§ 9-41-4	Ordinance provisions for operation of system and security of bondholders
§ 9-41-7	Bondholders’ statutory mortgage on telephone improvements–Disposition ofsystem prohibited until bonds retired
§ 9-41-8	Pledge of telephone revenues to separate fund–Separate account for bond paymentsand reserve–Depreciation account and operational expenses
§ 9-41-9	Rates supervised by Public Utilities Commission–Sufficient for bond retirementand operation
§ 9-41-10	Transfer of surplus to depreciation account
§ 9-41-11	Severability of chapter and resolutions

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Contract: A legal written agreement that becomes binding when signed.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Lien: A claim against real or personal property in satisfaction of a debt.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
ordinance: as used in this title shall mean a permanent legislative act of the governing body of a municipality within the limits of its powers. See South Dakota Codified Laws 9-19-1
Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2