There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 1 STATE AFFAIRS AND GOVERNMENT
Chapter 16B. Economic Development Finance Authority
§1-16B-31 Application of capital reserve fund--Transfer of income.
SD Codified L § 1-16B-31 (through 2011) What's This?
1-16B-31. Application of capital reserve fund--Transfer of income. All moneys held in the capital reserve fund, except as hereinafter provided, shall be used solely for the payment of the principal of bonds or notes secured by the fund, the purchase or redemption of the bonds or notes, the payment of interest on the bonds or notes, or the payment of any redemption premium required to be paid when the bonds or notes are redeemed prior to maturity. Any income from the capital reserve fund may be transferred to other funds or accounts to the extent the transfer does not reduce the amount of the capital reserve fund below the capital reserve fund requirement in this chapter.
Source: SL 1978, ch 9, § 15.
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