Section 46A-7A-139 - Bond issues--Payment--Maturity--Interest--Redemption prior to maturity. - South Dakota Statutes

46A-7A-139. Bond issues--Payment--Maturity--Interest--Redemption prior to maturity. Bonds issued under the provisions of § 46A-7A-120 are payable in lawful money of the United States, may be in one or more series and shall mature at such time or times as the board shall determine. However, the final maturity date of any series of bonds may not be more than forty years from the date of its issue. The bonds shall bear interest at a rate or rates to be determined by the board, payable at a time the board may determine, but at least annually. Any principal and interest shall be payable at the office of the state treasurer, at any bank or financial center chosen by the board and specified in the bonds, or at both places. Bonds may be made callable prior to their stated maturities, with redemption premiums set by the board.

Source: SL 1985, ch 360, § 139.