Section 46A-7A-97 - Special funds for revenue bond proceeds and pledged revenues--Fiscal agent. - South Dakota Statutes

46A-7A-97. Special funds for revenue bond proceeds and pledged revenues--Fiscal agent. The board, in any resolution authorizing issuance of revenue bonds, may provide special funds for deposit and application of the proceeds of the bonds and for deposit and application of revenues pledged to secure their payment. The board may provide for establishment of a reserve fund from the proceeds of the revenue bonds or from revenues pledged to their payment. The board may appoint a fiscal agent to hold such funds in trust for holders of revenue bonds and for the district.

Source: SL 1985, ch 360, § 97.