Section 11-9-35 - Maximum amount of bonds or notes--Maturity--Redemption provisions--Bearer orregistered--Denominations. - South Dakota Statutes

11-9-35. Maximum amount of bonds or notes--Maturity--Redemption provisions--Bearer or registered--Denominations. Tax incremental bonds or notes may not be issued in an amount exceeding the aggregate project costs. The bonds or notes may not mature later than twenty years from the date thereof. The bonds or notes may contain a provision authorizing the redemption thereof, in whole or in part, at stipulated prices, at the option of the municipality, on any interest payment date and shall provide the method of selecting the bonds or notes to be redeemed. The principal and interest on the bonds and notes may be payable at any time and at any place. The bonds or notes may be payable to their bearer or may be registered as to the principal or principal and interest. The bonds or notes may be in any denominations.

Source: SL 1978, ch 91, § 23.