Section 11-11-52 - Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.
11-11-52. Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale. The notes and bonds shall be authorized by resolution or resolutions of the authority, shall bear such date or dates and shall mature at such time or times as such resolution or resolutions may provide, except that no bond shall mature more than fifty years from the date of its issue. The bonds may be issued as serial bonds payable in annual installments or as term bonds or as a combination thereof. The notes and bonds shall bear interest at such rate or rates, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place or places within or without the state, and be subject to such terms of redemption as such resolution or resolutions may provide. The notes and bonds of the authority may be sold by the authority, at public or private sale, at such price or prices as the authority shall determine.
Source: SL 1973, ch 180, § 29; SDCL Supp, § 28-19-43.