Statutes, codes, and regulations
South Dakota Codified Laws
Title 11 - PLANNING, ZONING AND HOUSING PROGRAMS
Chapter 9 - TAX INCREMENT FINANCING DISTRICTS
Section 11-9-39.1 - State pledge not to alter rights vested in bondholders until bonds fully discharged

S.D. Codified Laws § 11-9-39.1

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Current through the 2024 Legislative Session
Section 11-9-39.1 - State pledge not to alter rights vested in bondholders until bonds fully discharged

The State of South Dakota does hereby pledge to and agree with the holders of any bonds issued under this chapter that the state will not alter the rights vested in the bondholders until such bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.

SDCL 11-9-39.1

SL 1989, ch 125, § 4; SL 2011, ch 73, §17.