There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 11 PLANNING, ZONING AND HOUSING PROGRAMS
Chapter 09. Tax Incremental Districts
§11-9-37 Pledge of special fund to bonds--Restrictions on use of fund--Lien.
SD Codified L § 11-9-37 (through 2011) What's This?
11-9-37. Pledge of special fund to bonds--Restrictions on use of fund--Lien. The governing body shall irrevocably pledge all or a stated percentage of the special fund created under § 11-9-31 to the payment of the bonds. The special fund or designated part thereof may thereafter be used only for the payment of the bonds and interest until they have been fully paid, and any holder of the bonds or of any coupons appertaining thereto shall have a lien against the special fund for payment of the bonds and interest and may either at law or in equity protect and enforce the lien.
Source: SL 1978, ch 91, § 24; SL 2011, ch 73, § 14.
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