The Building Authority shall keep account of the gross total income derived from each separate project or any combination thereof undertaken pursuant to this chapter. Disbursements from a given account in the public building fund shall be ordered by the authority only for the payment of: (1) The cost of maintenance and operation of the facility or facilities, unless otherwise provided for; (2) The principal of and interest on the bonds issued for each project, or combination thereof; and (3) Any other purposes set forth in the resolution authorizing the issuance of said bonds.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.