The board shall have power for each such institution to borrow money and issue bonds to acquire for each institution any one project, or more than one, or any combination thereof, or to refund bonds heretofore or hereafter issued for each such institution, or for either or both of said purposes, and to provide for the security and payment of said bonds and for the rights of the holders thereof.
S.D. Codified Laws § 13-51A-4
Borrowing power of board
Known as the Board of Regents Revenue Bond Act
The act spans §§ 13–13 (44 sections).
Applied in 1 court decision — leading case 624 F. Supp. 1179 - South Dakota Board of Regents v. Hoops (1986)
Most recently applied in 624 F. Supp. 1179 - South Dakota Board of Regents v. Hoops (January 1986)
Source: SL 1971, ch 134, § 3, subdiv 4.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.