Refunding bonds issued pursuant to § 46A-1-56 may be sold at such price as the district shall determine and the proceeds received at any such sale shall be used to pay the bonds, interest coupons, and interest not represented by coupons, if any. Bonds and interest coupons which have been paid shall be canceled and the obligation for interest, not represented by coupons, which has been discharged, shall be evidenced by a written acknowledgment of the exchange or payment thereof.

Terms Used In South Dakota Codified Laws 46A-1-57

  • 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.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2

Source: SL 1972, ch 241, § 51; SDCL Supp, § 46-17A-50; SL 1988, ch 363, § 4; SL 1989, ch 385, § 22.

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