28-18-3. Self-liquidating bonds issued by nonprofit corporation.
Such board of directors may issue self-liquidating bonds for the purpose of constructing or equipping necessary facilities for the purposes of the corporation.
Source: SL 1953, ch 302, §1; SDC Supp 1960, §27.1209.
Structure South Dakota Codified Laws
Title 28 - Public Welfare and Assistance
Chapter 18 - Facilities For Care Of The Aged
Section 28-18-1 - Formation of nonprofit corporations for care of aged authorized.
Section 28-18-2 - Area of operation of nonprofit corporation--Control by board of directors.
Section 28-18-3 - Self-liquidating bonds issued by nonprofit corporation.
Section 28-18-5 - Lease of property to nonprofit corporation by Department of Social Services.
Section 28-18-8 - Authorization, issuance, and sale of bonds.
Section 28-18-12 - Reference in bonds to authorizing resolutions--Negotiability.
Section 28-18-14 - Special fund created prior to delivery of bonds--Gross receipts pledged to fund.
Section 28-18-18 - Operational expenses paid from special fund--Appropriations for payment of bonds.
Section 28-18-19 - Findings and determinations binding on municipality.