46A-1-58. Refunding bonds authorized for unmatured obligations.
The district may issue negotiable refunding bonds under the provisions of this chapter to refund bonds at or before their maturity or which by their terms are subject to redemption before maturity, or both, in an amount necessary to refund:
(1)The principal amount of the bonds to be refunded;
(2)The interest to accrue up to and including the maturity date or dates, or to the next succeeding redemption date of the bonds; and
(3)The applicable redemption premiums, if any.
Source: SL 1972, ch 241, §52; SDCL Supp, §46-17A-51; SL 2011, ch 165, §307.