2011 South Dakota Code
Title 11 PLANNING, ZONING AND HOUSING PROGRAMS
Chapter 09. Tax Incremental Districts
§11-9-39 Other security and marketability provisions.
11-9-39. Other security and marketability provisions. To increase the security and marketability of its tax incremental bonds, a municipality may:
(1) Create a lien for the benefit of the bondholders upon any public improvements or public works financed thereby or the revenues therefrom; or
(2) Make covenants and do any and all acts, not inconsistent with the South Dakota Constitution, necessary, convenient, or desirable in order to additionally secure bonds or to make the bonds more marketable according to the best judgment of the governing body, including the establishment of a reserve for the payment of principal of and interest on the bonds funded from the proceeds of such bonds or other revenues, including tax increments, of the municipality; or
(3) Comply with both subdivisions (1) and (2) of this section.
Source: SL 1978, ch 91, § 25; SL 1983, ch 37, § 11; SL 2011, ch 73, § 16.
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