The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to mortgage all or any portion of the facilities and the site or sites thereof, whether then owned or thereafter acquired, for the benefit of the holders of bonds issued to finance such facilities or any portion thereof.
S.D. Codified Laws § 1-16A-24
Mortgages for security of bondholders
Known as the South Dakota Health and Educational Facilities Authority Act
The act spans §§ 1–1 (121 sections).
Source: SL 1972, ch 10, § 7 (12).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.