There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 49 PUBLIC UTILITIES AND CARRIERS
Chapter 39. Consumers Power District Borrowing And Indebtedness
§49-39-8 Pledging revenues to secure federal indebtedness--State not liable.
SD Codified L § 49-39-8 (through 2011) What's This?
49-39-8. Pledging revenues to secure federal indebtedness--State not liable. Nothing contained in chapters 49-35 to 49-40, inclusive, shall prevent the district from assigning, pledging, or otherwise hypothecating, its revenues, incomes, receipts or profits to secure the payment of indebtedness to the federal government; provided, that the State of South Dakota shall never pledge its credit or funds, or any part thereof, for the payment of settlement of any indebtedness or obligation whatsoever of any district created under the provisions of chapter 49-35.
Source: SL 1950 (SS), ch 17, § 60; SDC Supp 1960, § 52.1759.
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