13-5-33.1. Limitations on authority of cooperative educational service units to issue notes.
Any cooperative educational service unit shall have the same powers and rights as school boards and school districts under chapter 13-19 except that any notes or other obligations issued by a cooperative educational service unit pursuant to this authorization shall be sold in connection with a program or other financing sponsored by the health and educational facilities authority pursuant to §1-16A-75 and, in all events, the provisions of chapter 13-19 shall apply to and authorize and govern the issuance of any promissory notes by a cooperative educational service unit pursuant to this authorization. Except to the extent expressly provided to the contrary by the agreement which establishes a cooperative educational service unit, no note or other obligation issued by a cooperative educational service unit pursuant to this section shall be valid unless approved unanimously by the cooperative educational service unit board.
Source: SL 1991, ch 124, §2.
Structure South Dakota Codified Laws
Chapter 05 - Types And Organization Of School Districts
Section 13-5-1 - School districts defined--General corporate and proprietary powers.
Section 13-5-2 - Types of school districts abolished--New boards for former superimposed districts.
Section 13-5-15 - School districts as corporations--Form of name.
Section 13-5-16 - Naming and numbering of school districts.
Section 13-5-29 - Vested contract rights not impaired.
Section 13-5-31 - Cooperative educational service units.
Section 13-5-32 - Cooperative educational service units--Powers--Authorization to issue notes.
Section 13-5-35 - Formation of new school district--Requirements.