Each bond issued pursuant to this chapter and all interest coupons related to the bonds are negotiable instruments. Bonds issued are not general obligation bonds and are payable only from the tax increment of the project as provided in this chapter.
S.D. Codified Laws § 11-9-38
Bonds to be negotiable and payable only from tax increment
Source: SL 1978, ch 91, § 21; SL 2011, ch 73, § 15; SL 2018, ch 70, § 39.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.