In addition to the foregoing, bonds of the authority may be secured by a pooling of leases whereby the authority may assign its rights, as lessor, and pledge rents under two or more leases of the facilities with two or more participating health institutions or participating educational institutions, as lessees respectively, upon such terms as may be provided for in the resolutions of the authority or as may be provided for in a trust indenture authorized by the authority.
S.D. Codified Laws § 1-16A-46
Pooling of leases for pledge of revenues
Known as the South Dakota Health and Educational Facilities Authority Act
The act spans §§ 1–1 (121 sections).
Source: SL 1972, ch 10, § 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.