Section 46A-1-23 - Pledge of revenues to secure interim notes. - South Dakota Statutes

46A-1-23. Pledge of revenues to secure interim notes. All such notes and the interest thereon may be secured by a pledge of, and payable from, any income and revenue (subject to the prior payment of the operation and maintenance expenses of any project) derived from the project to be undertaken with the proceeds of the notes; the proceeds to be derived from the sale of any revenue bonds for permanent financing authorized to be issued under this chapter; such project itself; any funds, property or obligation of any public entity or person with whom the district has entered into a financing arrangement under § 46A-1-18 in connection with such project; the proceeds of the notes; and any grant or loan to be made by an agency or instrumentality of the United States government, including, but not limited to, the Farmers Home Administration, in connection with such project.

Source: SL 1972, ch 241, § 27; SL 1979, ch 301, § 7; SDCL Supp, § 46-17A-25.