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§ 11-7-90 Commission power to issue bonds and obligations--Housing projects and redevelopment projects kept separate.

SD Codified L § 11-7-90 (2019) (N/A)
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11-7-90. Commission power to issue bonds and obligations--Housing projects and redevelopment projects kept separate. A commission may issue its bonds or other obligations in the manner provided in §§ 11-7-92 to 11-7-101, inclusive; provided, however, that none of the proceeds of such bonds for redevelopment projects and no proceeds or revenues from any redevelopment project shall be used to pay the bonds or costs of or make contributions or loans to any low-rent housing project, nor shall the proceeds, revenues, or proceeds of bonds of any housing project be used to pay the bonds, costs of, or make contributions or loans to any redevelopment project.

Source: SL 1950 (SS), ch 13, § 20, subdiv 4; SDC Supp 1960, § 45.3620 (4).

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§ 11-7-89 Local public funds used for redevelopment only to extent not available from other sources.
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§ 11-7-91 Provision for project revenues to be placed in debt service funds.