South Dakota § 6-8B-57 - Debt service reserve fund or credit facility.
Full text of South Dakota South Dakota Codified Laws § 6-8B-57 — Debt service reserve fund or credit facility., with citation guidance and answers to common questions.
§ 6-8B-57. Debt service reserve fund or credit facility.
If a municipality or county determines that it is not precluded by any applicable law or regulation which may govern the exclusion of interest on the bonds or other obligations from federal income taxation, the terms and conditions applicable to the borrowing by the qualified nonprofit corporation shall include a debt service reserve fund or account or similar arrangement or credit facility as shall be approved by the health and educational facilities authority in an amount approximately equal to maximum annual debt service on the bonds or other obligations to be secured by the credit enhancement obligation.
Source: SL 1992, ch 3, § 6.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 6-8B-57
What does South Dakota Codified Laws § 6-8B-57 cover?
Section 6-8B-57 ("Debt service reserve fund or credit facility.") 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 § 6-8B-57?
A common citation format is "South Dakota Codified Laws § 6-8B-57" (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 § 6-8B-57 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.