Section 1-16A-54.2 - Amount and terms of securities purchased--Mortgage--Insurance and guaranties. - South Dakota Statutes

1-16A-54.2. Amount and terms of securities purchased--Mortgage--Insurance and guaranties. Any securities purchased pursuant to § 1-16A-54.1 shall have the same principal amounts, maturities and interest rates as the bonds being issued pursuant to § 1-16A-54.1, shall be secured by a first mortgage lien on the educational or health facility so being financed, subject to such exceptions as the authority may approve and created by a mortgage instrument satisfactory to the authority, and may be insured or guaranteed by others.

Source: SL 1976, ch 9, § 1.