Any resolution authorizing the issuance of such notes shall specify the principal amount, rate of interest and maturity date, but not to exceed five years from date of issue, and such other terms as may be specified in such resolution; however, time of payment of any such notes may be extended for a period of not exceeding three years from the maturity date thereof.
S.D. Codified Laws § 13-51A-6
Terms of interim notes--Maturity date--Extension
Known as the Board of Regents Revenue Bond Act
The act spans §§ 13–13 (44 sections).
Source: SL 1971, ch 134, § 4 (D).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.