South Dakota Codified Laws 11-9-38. Bonds to be negotiable and payable only from tax increment
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Each bond issued pursuant to this chapter and all interest coupons related to the bonds are negotiable instruments. Bonds issued are not general obligation bonds and are payable only from the tax increment of the project as provided in this chapter.
Terms Used In South Dakota Codified Laws 11-9-38
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Source: SL 1978, ch 91, § 21; SL 2011, ch 73, § 15; SL 2018, ch 70, § 39.