Any securities purchased pursuant to § 1-16A-54.1 shall have the same principal amounts, maturities, and interest rates as the bonds being issued pursuant to § 1-16A-54.1. If the authority deems it advisable, the securities may be secured by a first mortgage lien on the educational or health facility being financed. If a mortgage is required, the securities are subject to any exception approved by the authority and created by a mortgage instrument satisfactory to the authority. The securities may be insured or guaranteed by others.
S.D. Codified Laws § 1-16A-54.2
Amount and terms of securities purchased--Mortgage--Insurance and guaranties
Known as the South Dakota Health and Educational Facilities Authority Act
The act spans §§ 1-16A-1 to 1-16A-99 (121 sections).
Source: SL 1976, ch 9, § 1; SL 2013, ch 5, § 2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.