S.D. Codified Laws § 46A-1-42
This is the official text of S.D. Codified Laws § 46A-1-42, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Bonds not a state obligation--Payment restricted to revenues
Official statutory text
Any bonds issued pursuant to this chapter are obligations of the district payable only in accordance with the terms of the bonds and are not obligations general, special, or otherwise, of the State of South Dakota. Such bonds do not constitute a debt, legal or moral, of the State of South Dakota, and are not enforceable against the state. Payment of the bonds is not enforceable out of any funds of the district other than the income and revenues pledged and assigned to, or in trust for the benefit of, the holder or holders of the bonds.
Source: SL 1972, ch 241, § 41; SDCL Supp, § 46-17A-40; SL 2011, ch 165, § 301.
Source: SL 1972, ch 241, § 41; SDCL Supp, § 46-17A-40; SL 2011, ch 165, § 301.
Status: in_force · Read it on the official government site
Need a lawyer in South Dakota?
Find a South Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.