Statutes, codes, and regulations
South Dakota Codified Laws
Title 49 - PUBLIC UTILITIES AND CARRIERS
Chapter 39 - CONSUMERS POWER DISTRICT BORROWING AND INDEBTEDNESS
Section 49-39-5 - Payment of pledged revenues into special fund-Use of revenues-Designation of depository

S.D. Codified Laws § 49-39-5

Download
PDF
Current through the 2024 Legislative Session
Section 49-39-5 - Payment of pledged revenues into special fund-Use of revenues-Designation of depository

Any resolution or agreement pursuant to § 49-39-2 may provide that all or any part of the revenues of the district shall be paid into a special fund, and may set forth all the terms and conditions on which such special fund is to be collected, held and disposed of, whether partly or wholly for the benefit of the holders of such revenue debentures, notes, warrants, or other evidences of indebtedness. Provision may be made that such special fund shall be held by depositories designated or described in such resolution or agreement.

SDCL 49-39-5

SL 1950 (SS), ch 17, § 49; SDC Supp 1960, § 52.1749.