South Dakota § 11-11-49 - Public debt not created by authority obligations--Statement on face of obligations.
Full text of South Dakota South Dakota Codified Laws § 11-11-49 — Public debt not created by authority obligations--Statement on face of obligations., with citation guidance and answers to common questions.
§ 11-11-49. Public debt not created by authority obligations--Statement on face of obligations.
Obligations issued under the provisions of this chapter shall not be deemed to constitute a debt or liability or obligation of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any political subdivision thereof but shall be payable solely from the revenues or assets of the authority. Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the authority shall not be obligated to pay the same nor the interest thereon except from the revenues or assets pledged therefor and that neither the faith and credit nor the taxing power of the state or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such obligation.
Source: SL 1973, ch 180, § 46; SDCL Supp, § 28-19-40.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 11-11-49
What does South Dakota Codified Laws § 11-11-49 cover?
Section 11-11-49 ("Public debt not created by authority obligations--Statement on face of obligations.") 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 § 11-11-49?
A common citation format is "South Dakota Codified Laws § 11-11-49" (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 § 11-11-49 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.