Education savings bonds or certificates may be sold either at a competitive or negotiated sale. For purposes of computing the aggregate principal amount of bonds or certificates issued or outstanding at any one time, education savings bonds or certificates shall be considered to be issued and outstanding in a principal amount equal to the price paid to the authority for such bonds or certificates as of the date of their sale.
S.D. Codified Laws § 1-16A-82
Sale of education savings bonds--Computation of aggregate principal
Known as the South Dakota Health and Educational Facilities Authority Act
The act spans §§ 1–1 (121 sections).
Source: SL 1990, ch 10, § 5.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.