11-9-39.1. State pledge not to alter rights vested in bondholders until bonds fully discharged.
The State of South Dakota does hereby pledge to and agree with the holders of any bonds issued under this chapter that the state will not alter the rights vested in the bondholders until such bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.
Source: SL 1989, ch 125, §4; SL 2011, ch 73, §17.
Structure South Dakota Codified Laws
Title 11 - Planning, Zoning and Housing Programs
Chapter 09 - Tax Increment Financing Districts
Section 11-9-1 - Definition of terms.
Section 11-9-2 - Municipal powers related to districts.
Section 11-9-3 - Planning commission hearing on creation of district--Notice.
Section 11-9-5 - Governing body resolution creating district--Boundaries--Name.
Section 11-9-6 - Districts with overlapping boundaries permitted.
Section 11-9-7 - Maximum percentage of taxable property in municipality permitted in district.
Section 11-9-8 - Required findings in resolution creating district.
Section 11-9-9 - Areas conducive to disease or crime defined as blighted.
Section 11-9-10 - Developed areas impairing growth defined as blighted.
Section 11-9-11 - Open areas impairing growth defined as blighted.
Section 11-9-12 - Determination of tax increment base on creation of district or amendment of plan.
Section 11-9-13 - Project plan for each district--Contents.
Section 11-9-14 - Project costs defined.
Section 11-9-15 - Items included in project costs.
Section 11-9-16 - Additional contents of project plan.
Section 11-9-17 - Governing body resolution approving project plan--Findings.
Section 11-9-18 - Amendment to project plan--Procedure.
Section 11-9-19 - Tax increment base defined.
Section 11-9-20 - Determination of tax increment base of district.
Section 11-9-20.1 - Aggregate assessed value for district not in compliance with § 10-6-121.
Section 11-9-21 - Indication on assessment rolls of parcels within district.
Section 11-9-22 - Presumption as to property recently acquired or leased by municipality.
Section 11-9-25 - Allocation to municipality of tax increments--Duration of allocation.
Section 11-9-26 - Tax increment defined.
Section 11-9-27 - Taxation of property in district.
Section 11-9-28 - Payment to municipality of allocable tax increment.
Section 11-9-30 - Methods of paying project costs.
Section 11-9-32 - Permissible uses of special fund.
Section 11-9-33 - Bonds authorized for payment of project costs.
Section 11-9-34 - Bonds or contracts authorized by resolution.
Section 11-9-36 - Bonds payable only from special fund.
Section 11-9-37 - Pledge of special fund to bonds--Restrictions on use of fund--Lien.
Section 11-9-38 - Bonds to be negotiable and payable only from tax increment.
Section 11-9-39 - Other security and marketability provisions.
Section 11-9-40 - Sale of bonds.
Section 11-9-41 - Procedure for condemnation under power of eminent domain.
Section 11-9-42 - Tax increments not to be used for residential structures.
Section 11-9-43 - Performance bond required of purchaser or lessee of property.
Section 11-9-45 - Disposition of funds remaining after payment of project costs and bonds.
Section 11-9-46 - Termination of district.
Section 11-9-48 - Reports of tax increment financing districts published on department website.