§ 1-16A-52.1 Financing through federally guaranteed securities authorized.

SD Codified L § 1-16A-52.1 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

1-16A-52.1. Financing through federally guaranteed securities authorized. Notwithstanding any other provisions of this chapter to the contrary, the authority may finance the cost of an educational or health facility, or refund outstanding indebtedness incurred prior to or after the effective date of this section for the construction or acquisition of an educational or health facility, by issuing its bonds pursuant to a plan of financing involving the acquisition of any federally guaranteed security or securities or the acquisition or entering into of commitments to acquire any federally guaranteed security or securities. For the purposes of this chapter, "federally guaranteed security" shall mean any direct obligation of, or obligation the principal of and interest on which are fully guaranteed or insured by, the United States of America or any obligation issued by or the principal of and interest on which are fully guaranteed or insured by any agency or instrumentality of the United States of America, including without limitation any such obligation that is issued pursuant to the National Housing Act (12 U.S.C. § 1701 et seq.), or any successor provision of law, each as amended from time to time.

Source: SL 1979, ch 7, § 2.

Previous Section

§ 1-16A-52 Pledge of full faith and credit of authority or institution.

Next Section

§ 1-16A-52.2 Commitments and agreements for financing through federally guaranteed securities.