9-54-3.1."Revenue agreement" defined.
Revenue agreement, as the term is used in this chapter, is any written agreement between a municipality and another person, firm, limited liability company, corporation, or governmental entity with respect to a project whereby such other person, firm, limited liability company, corporation, or governmental entity agrees to pay to the municipality or to its order amounts sufficient at all times to pay when due the principal of, premium, if any, and interest on all bonds issued by the municipality with respect to that project. A revenue agreement includes, but is not limited to, a lease, a direct or installment sale contract, or a loan agreement.
Source: SL 1981, ch 77, §5; SL 1994, ch 351, §11.
Structure South Dakota Codified Laws
Title 9 - Municipal Government
Chapter 54 - Economic Development Projects
Section 9-54-1 - Purpose of chapter.
Section 9-54-2.2 - Restriction on use of bonds for elderly housing projects.
Section 9-54-3 - "Revenue bonds" defined.
Section 9-54-3.1 - "Revenue agreement" defined.
Section 9-54-4 - Costs to be covered by bonds--Authorization, issuance and sale of bonds.
Section 9-54-5 - Amount of bond issue limited by costs.
Section 9-54-6 - Bonds not general obligations nor payable by taxation--Recitals in bonds.
Section 9-54-9 - Municipal obligations restricted by contractual payments from facilities.
Section 9-54-10 - County and sanitary district powers.
Section 9-54-11 - Municipal joint or cooperative agreements.
Section 9-54-12 - Compliance with federal requirements for tax exemption.