South Dakota § 49-39-1 - Authority to borrow--Funds available for repayment--Security for loan.
Full text of South Dakota South Dakota Codified Laws § 49-39-1 — Authority to borrow--Funds available for repayment--Security for loan., with citation guidance and answers to common questions.
§ 49-39-1. Authority to borrow--Funds available for repayment--Security for loan.
Any district organized under chapter 49-35 may borrow money and incur indebtedness for any corporate use or purpose. Any indebtedness, liability, or obligation of the district for the payment of money, in whatever manner entered or incurred, and whether arising from contract, implied contract, or otherwise, shall be payable solely:
(1) From revenues, income, and receipts derived by the district from its operation and management of power plants or systems; or
(2) From the issuance or sale by the district of its warrants, notes, debentures, bonds, variable rate obligations, or other evidences of indebtedness, payable solely from such revenues, income, and receipts, or from the proceeds and avails of the sale of property of the district.
Any district may pledge and put up as collateral security for a loan any revenue debentures, notes, warrants, bonds, or other evidences of indebtedness, issued by it.
Source: SL 1950 (SS), ch 17, § 45; SDC Supp 1960, § 52.1745; SL 1989, ch 403, § 26.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 49-39-1
What does South Dakota Codified Laws § 49-39-1 cover?
Section 49-39-1 ("Authority to borrow--Funds available for repayment--Security for loan.") 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 § 49-39-1?
A common citation format is "South Dakota Codified Laws § 49-39-1" (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 § 49-39-1 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.