9-41A-46. Bonds and notes as legal investments for public, corporate and fiduciary funds.
The State of South Dakota and all its public officers, governmental units, agencies and instrumentalities, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all personal representatives, conservators, trustees, and other fiduciaries, may legally invest any debt service funds, money, or other funds belonging to them or within their control in any bonds or notes issued pursuant to this chapter, and the bonds or notes shall be authorized security for any and all public deposits.
Source: SL 1978, ch 66, §50; SL 1993, ch 213, §80.
Structure South Dakota Codified Laws
Title 9 - Municipal Government
Chapter 41A - Municipal Power Agencies
Section 9-41A-1 - Definition of terms.
Section 9-41A-2 - Formation of agency by agency agreement.
Section 9-41A-3 - Contents of agency agreement.
Section 9-41A-4 - Filing of agency agreement and resolutions--Certificate issued.
Section 9-41A-5 - Commencement of corporate existence--Certificate as evidence of incorporation.
Section 9-41A-6 - Powers of city representatives--Meetings--Quorum.
Section 9-41A-7 - Expenses of formation of agency--City representatives' expenses.
Section 9-41A-8 - Amendment of agency agreement--Ratification and filing.
Section 9-41A-9 - Initial meeting of directors.
Section 9-41A-10 - Adoption of bylaws--Contents.
Section 9-41A-11 - Registered office of agency--Change of location.
Section 9-41A-13 - Meetings of directors--Quorum.
Section 9-41A-14 - Appointment of officers of agency--Removal--Powers and duties.
Section 9-41A-15 - Employee unions and collective bargaining.
Section 9-41A-17 - Powers exercised by directors--Good faith required.
Section 9-41A-18 - Action through agents or by contract.
Section 9-41A-19 - Acquisition, maintenance, and improvement of projects--Agency.
Section 9-41A-20 - Investigation, surveys, and estimates of additional sources of energy.
Section 9-41A-21 - Cooperation with others in development of energy sources.
Section 9-41A-22 - Applications to regulatory agencies--Compliance with requirements.
Section 9-41A-23 - Determination of location and character of projects.
Section 9-41A-24 - Contracts for project construction and sale of energy.
Section 9-41A-25 - Purchase, sale, and transmission of electric energy--Agreements.
Section 9-41A-26 - Powers over money.
Section 9-41A-27 - Acceptance of loans and grants--Compliance with conditions.
Section 9-41A-28 - Borrowing power--Bonds and notes.
Section 9-41A-29 - Investment of funds.
Section 9-41A-30 - Powers over personal property.
Section 9-41A-31 - Powers over real property.
Section 9-41A-32 - Power of eminent domain.
Section 9-41A-33 - Franchises and leases of facilities.
Section 9-41A-34 - Encumbrance of property to secure obligations.
Section 9-41A-35 - Insurance against losses to property.
Section 9-41A-36 - Payments in lieu of property tax--Valuation of property.
Section 9-41A-37 - Powers incidental to purposes of chapter.
Section 9-41A-38 - Bonds and notes authorized--Purposes.
Section 9-41A-39 - Terms of bonds and notes.
Section 9-41A-41 - Agency funds pledged for security of bonds and notes.
Section 9-41A-43 - Negotiability of bonds and notes.
Section 9-41A-44 - Continuing validity of officers' signatures on bonds and notes--Temporary bonds.
Section 9-41A-45 - Sale of bonds and notes.
Section 9-41A-46 - Bonds and notes as legal investments for public, corporate and fiduciary funds.
Section 9-41A-48 - Encumbrance of property to secure bonds and notes--Filings.
Section 9-41A-49 - Officers and members of agency not personally liable on bonds or notes.
Section 9-41A-50 - Repurchase of bonds and notes--Cancellation or resale.
Section 9-41A-51 - Condemnation under power of eminent domain--Continuing power.
Section 9-41A-52 - Property already used for electric power not subject to condemnation.
Section 9-41A-54 - Establishment of rates, charges and reserves.
Section 9-41A-55 - Pledge of revenues to bonds, notes and contractual obligations.