South Dakota § 1-16J-16 - State not liable for principal or interest on bonds, notes, or obligations of authority.
Full text of South Dakota South Dakota Codified Laws § 1-16J-16 — State not liable for principal or interest on bonds, notes, or obligations of authority., with citation guidance and answers to common questions.
§ 1-16J-16. State not liable for principal or interest on bonds, notes, or obligations of authority.
Nothing in this chapter may be construed to authorize the authority to create a debt of the state within the meaning of the Constitution or statutes of South Dakota and all revenue bonds, notes, and other instruments and obligations issued by the authority pursuant to the provisions of this chapter are payable and shall state that they are payable solely from the funds pledged for their payment in accordance with the resolution authorizing their issuance or in any trust indenture or mortgage or deed of trust executed as security therefor. The state is not liable for the payment of the principal of, or interest on, any bonds, notes, instruments, or obligations issued by the authority or for the performance of any pledge, mortgage, obligation, or agreement of any kind whatsoever which may be undertaken by the authority. No breach of any such pledge, mortgage, obligation, or agreement may impose any pecuniary liability upon the state or any charge upon its general credit or against its taxing power.
Source: SL 2009, ch 8, § 16.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 1-16J-16
What does South Dakota Codified Laws § 1-16J-16 cover?
Section 1-16J-16 ("State not liable for principal or interest on bonds, notes, or obligations of authority.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 1-16J-16?
A common citation format is "South Dakota Codified Laws § 1-16J-16" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 1-16J-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.