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§ 46A-1-56 Refunding bonds authorized for matured obligations.

SD Codified L § 46A-1-56 (2019) (N/A)
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46A-1-56. Refunding bonds authorized for matured obligations. The district may issue negotiable refunding bonds for the following purposes:

(1) To refund unpaid matured bonds;

(2) To refund unpaid matured coupons evidencing interest upon its unpaid matured bonds; and

(3) To refund interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of those bonds.Source: SL 1972, ch 241, § 50; SDCL Supp, § 46-17A-49; SL 2011, ch 165, § 306.

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§ 46A-1-55 Persons executing district notes or bonds not subject to personal liability.
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§ 46A-1-57 Sale of refunding bonds for matured obligations--Application of proceeds--Cancellation of instruments paid.