South Dakota § 11-11-74 - Purposes to which moneys in reserve funds applied--Maintenance of required amount.
Full text of South Dakota South Dakota Codified Laws § 11-11-74 — Purposes to which moneys in reserve funds applied--Maintenance of required amount., with citation guidance and answers to common questions.
§ 11-11-74. Purposes to which moneys in reserve funds applied--Maintenance of required amount.
All moneys held in any capital reserve fund, except as provided in § 11-11-73, shall be used, as required, solely for the payment of the principal of bonds secured in whole or in part by such fund or of the debt service fund payments hereinafter mentioned with respect to such bonds, the purchase or redemption of such bonds, the payment of interest on such bonds, or the payment of any redemption premium required to be paid when such bonds are redeemed prior to maturity; provided, however, that moneys in any such fund shall not be withdrawn therefrom at any time in such amount as would reduce the amount of such fund to less than the maximum capital reserve requirement established for such fund as provided by § 11-11-71 except for the purpose of making with respect to bonds secured in whole or in part by such fund payments, when due, of principal, interest, redemption premiums, and the debt service fund payments mentioned in § 11-11-71 for the payment of which other moneys of the authority are not available.
Source: SL 1973, ch 180, § 38; SDCL Supp, § 28-19-65.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 11-11-74
What does South Dakota Codified Laws § 11-11-74 cover?
Section 11-11-74 ("Purposes to which moneys in reserve funds applied--Maintenance of required amount.") 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 § 11-11-74?
A common citation format is "South Dakota Codified Laws § 11-11-74" (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 § 11-11-74 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.