South Dakota Codified Laws
Chapter 41 - Municipal Telephone Systems
Section 9-41-4 - Ordinance provisions for operation of system and security of bondholders.

9-41-4. Ordinance provisions for operation of system and security of bondholders.
A municipality so improving, expanding, or reconstructing its telephone lines or facilities may provide by ordinance or resolution duly adopted by its governing body any such lawful provisions and stipulations for the proper operation and maintenance thereof, the administration of the income and revenues, and for the security of the bondholders as a governing body may deem necessary.

Source: SL 1953, ch 275, §7; SDC Supp 1960, §45.24C07.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 9 - Municipal Government

Chapter 41 - Municipal Telephone Systems

Section 9-41-1 - Power of municipality to establish and operate telephone system--Connection and joint operation with rural telephone system.

Section 9-41-1.1 - Purchase of equipment for resale.

Section 9-41-2 - Revenue bonds authorized--Issuance--Sale--Segregated revenue or income.

Section 9-41-3 - Additional bonds authorized when original issue insufficient--Priority of issues.

Section 9-41-4 - Ordinance provisions for operation of system and security of bondholders.

Section 9-41-7 - Bondholders' statutory mortgage on telephone improvements--Disposition of system prohibited until bonds retired.