49-39-3. Resolution specifying particular revenues pledged.
Any resolution or agreement pursuant to §49-39-2 may specify the particular revenues that are pledged and the terms and conditions to be performed by the district and the rights of the holders of such revenue debentures, notes, warrants, bonds, or other evidences of indebtedness, and may provide for priorities of liens in any such revenues as between the holders of revenue debentures, notes, warrants, bonds, or other evidences of indebtedness, issued at different times or under different resolutions or agreements.
Source: SL 1950 (SS), ch 17, §47; SDC Supp 1960, §52.1747.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Chapter 39 - Consumers Power District Borrowing And Indebtedness
Section 49-39-1 - Authority to borrow--Funds available for repayment--Security for loan.
Section 49-39-2 - Pledging revenues as security for borrowing.
Section 49-39-3 - Resolution specifying particular revenues pledged.
Section 49-39-6 - Sale of bonds.
Section 49-39-6.1 - Issuance of variable rate obligations--Authorization by resolution--Scope.
Section 49-39-7 - Agreement with bondholders respecting charges for electricity.
Section 49-39-8 - Pledging revenues to secure federal indebtedness--State not liable.