South Dakota § 34A-5-36 - Rates and charges for sanitary services--Measures for protection of bondholders.

§ 34A-5-36. Rates and charges for sanitary services--Measures for protection of bondholders.

The board of trustees may:

(1)    Fix reasonable rates and charges for services furnished and made available by the district to users of its facilities;

(2)    Provide for the collection of the charges;

(3)    Pledge the net revenues derived from the charges to the payment of bonds made payable wholly or partly from the revenues; and

(4)    Make and enforce on behalf of the district all covenants relating to:

(a)    The proper operation and maintenance of the facilities;

(b)    Insurance against hazards of loss and liability;

(c)    The administration, expenditure and auditing of the income and revenues of the district;

(d)    The expenditure of the bond proceeds; and

(e)    All other matters affecting the security of the bonds, which the board of trustees determines to be necessary or desirable for the purpose of selling the bonds upon terms advantageous to the district and maintaining its credit and ability to engage in further financing when and as necessary.

Source: SL 1953, ch 268; SDC Supp 1960, § 45.3815 (8); SL 1964, ch 144, § 7; SDCL § 34-17-29; SL 2011, ch 165, § 96.