There is a newer version of the South Dakota Codified Laws
2010 South Dakota Code
Title 1 - STATE AFFAIRS AND GOVERNMENT
Chapter 16B - Economic Development Finance Authority
Section 1-16B-23 - Disposition of refunding obligations--Application or investment of proceeds.
1-16B-23. Disposition of refunding obligations--Application or investment of proceeds. Refunding obligations may be sold or exchanged for outstanding obligations issued under this chapter, and, if sold, the proceeds may be applied to any authorized purpose or to the purchase, redemption or payment of outstanding obligations. The proceeds from any refunding obligation may be invested by the state investment officer, under the provisions of chapter 4-5, until they are required for the retirement of outstanding obligations.Source: SL 1978, ch 9, § 20.
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