Section 46A-7A-148 - Additional bonds--Election on issuance--Terms and conditions--Priority of benefitassessment lien securing. - South Dakota Statutes

46A-7A-148. Additional bonds--Election on issuance--Terms and conditions--Priority of benefit assessment lien securing. If revenue raised by sale of bonds is insufficient for the purposes for which such bonds were issued, additional bonds may be issued after submission of the question, at a general or special election, to the electors of the district. For issuance of additional bonds, the board shall set terms and conditions upon which additional bonds may be issued and secured. Any benefit assessment lien for payment of interest and principal of additional bonds may be on a parity with or subsequent to any lien of any prior bond issue.

Source: SL 1985, ch 360, § 148.