2013 South Dakota Codified Laws
Title 49 - PUBLIC UTILITIES AND CARRIERS
Chapter 16B - South Dakota Railroad Authority
§ 49-16B-24 Borrowing money and issuing bonds authorized--Refunding and refinancing--Pledgeof income and revenues.
49-16B-24. Borrowing money and issuing bonds authorized--Refunding and refinancing--Pledge of income and revenues. To accomplish projects of the kind listed in § 49-16B-10, the authority may borrow money and issue and sell bonds in such amount or amounts as the authority may determine for the purpose of acquiring, improving or equipping any such facility; refund and refinance the same from time to time as often as advantageous and in the public interest to do so; and pledge any and all income of such authority, and any revenues derived by the authority from such facilities, or any combination thereof, to secure the payment of such bonds and redeem such bonds. All such bonds shall be subject to the provisions of §§ 49-16B-25 to 49-16B-30, inclusive.
Source: SL 1980, ch 323, § 23.
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