There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 1 STATE AFFAIRS AND GOVERNMENT
Chapter 16J. South Dakota Ellsworth Development Authority
§1-16J-13 Pledge of revenues from lease or loan agreement--Trust agreement--Remedy.
SD Codified L § 1-16J-13 (through 2011) What's This?
1-16J-13. Pledge of revenues from lease or loan agreement--Trust agreement--Remedy. To secure the payment of any revenue bond, note, or other instrument, the revenues to be received by the authority from a lease agreement or loan agreement shall be pledged, and, for the purpose of setting forth the covenants and undertakings of the authority in connection with the issuance thereof and the issuance of any additional revenue bond, note, or other instrument payable from such revenue, income, or other fund to be derived from any facilities, the authority may execute and deliver a trust agreement. A remedy for any breach or default of the terms of any such trust agreement by the authority may be by mandamus proceedings in circuit court to compel the performance and compliance with the trust agreement, but the trust agreement may prescribe by whom or on whose behalf the action may be instituted.
Source: SL 2009, ch 8, § 13.
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