49-39-6. Sale of bonds.
All bonds of any consumers power district, whether issued to incur new indebtedness, or to refund or refinance existing indebtedness, shall be sold or negotiated for the benefit of the district by the directors in such manner as to them shall appear to be for the advantage, benefit and best interest of the district.
Source: SL 1950 (SS), ch 17, §50; SDC Supp 1960, §52.1750; SL 1989, ch 403, §27.
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.