2006 South Dakota Code - 3-22-13.1 — Bureau authorized as reserve funding authority--Implementation--Powers of bureau.

     3-22-13.1.   Bureau authorized as reserve funding authority--Implementation--Powers of bureau. The bureau of the PEPL fund is hereby authorized as the reserve funding authority for the PEPL fund and associated sub-pools. To implement this authorization, the bureau may issue bonds, certificates of participation, and other instruments to accomplish the objectives of this chapter. The bureau may exercise any or all powers enumerated in chapter 1-16E and in addition may issue bonds that do constitute a debt or obligation of member political subdivisions provided any such bond is secured for payment of principal and interest by the proceeds of irrepealable tax levies of the participating member political subdivisions as provided in this chapter.

Source: SL 1987, ch 40, § 4.