Bonds to be negotiable and payable only from tax increment.

1. Law
2. South Dakota Codified Laws
3. Planning, Zoning and Housing Programs
4. Tax Increment Financing Districts
5. Bonds to be negotiable and payable only from tax increment.

11-9-38. Bonds to be negotiable and payable only from tax increment.

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.

Source: SL 1978, ch 91, §21; SL 2011, ch 73, §15; SL 2018, ch 70, §39.

Download our app to see the most-to-date content.