Section 46A-7A-144 - Amount of refunding bonds--Terms and conditions--Maturity. - South Dakota Statutes

46A-7A-144. Amount of refunding bonds--Terms and conditions--Maturity. The amount of refunding bonds may not exceed the lesser of the amount of the uncalled capital benefit assessment for original bonds then remaining or the amount of bonds to be refunded plus premiums established for the call and redemption of the bonds and reasonable costs of issuance of the refunding bonds. Terms and conditions of refunding bonds shall be set by the board, but the maximum maturity period may not exceed forty years.

Source: SL 1985, ch 360, § 144.