2013 South Dakota Codified Laws
Title 49 - PUBLIC UTILITIES AND CARRIERS
Chapter 16B - South Dakota Railroad Authority
§ 49-16B-37 Interim notes--Additional security for payment.
49-16B-37. Interim notes--Additional security for payment. The authority, in order further to secure the payment of the interim notes, may make any other or additional covenants, terms and conditions not inconsistent with the provisions of §§ 49-16B-13 and 49-16B-15, and do any and all acts and things as may be necessary or convenient or desirable in order to secure payment of its interim notes, or, in the discretion of the authority, as will tend to make the interim notes more acceptable to lenders, notwithstanding that the covenants, acts or things may not be enumerated herein. However, nothing contained in this section authorizes the authority to secure the payment of the interim notes out of property or facilities, other than the facilities acquired with the proceeds of the interim notes, and any net income and revenue derived from the facilities and the proceeds of revenue bonds.
Source: SL 1980, ch 323, § 33; SL 2010, ch 145, § 200.
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