South Dakota § 46A-1-37 - Covenant against alienation or encumbrance of projects while bonds outstanding.
Full text of South Dakota South Dakota Codified Laws § 46A-1-37 — Covenant against alienation or encumbrance of projects while bonds outstanding., with citation guidance and answers to common questions.
§ 46A-1-37. Covenant against alienation or encumbrance of projects while bonds outstanding.
The district may covenant that if any of the bonds issued under this chapter remain outstanding and unpaid, the district will not, except upon such terms and conditions as may be determined, voluntarily create or cause to be created any debt, lien, mortgage, pledge, assignment, encumbrance, or other charge having priority to the lien of the bonds issued under this chapter upon any of the income and revenues derived from all revenues pledged pursuant to § 46A-1-33, or convey or otherwise alienate any project or the real estate upon which the project is located, except at a price sufficient to pay all the bonds issued for the project then outstanding and interest accrued on the bonds, and then only in accordance with any agreements with the holder of the bonds.
Source: SL 1972, ch 241, § 36; SDCL Supp, § 46-17A-35; SL 2011, ch 165, § 297.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 46A-1-37
What does South Dakota Codified Laws § 46A-1-37 cover?
Section 46A-1-37 ("Covenant against alienation or encumbrance of projects while bonds outstanding.") 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 § 46A-1-37?
A common citation format is "South Dakota Codified Laws § 46A-1-37" (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 § 46A-1-37 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.