Section 9-41A-42 - State approval not required for bonds and notes--Establishment and pledge of rentsand charges.
9-41A-42. State approval not required for bonds and notes--Establishment and pledge of rents and charges. Bonds or notes of a municipal power agency may be issued under the provisions of this chapter, and rents, rates, and charges may be established pursuant to § 9-41A-54 and pledged for the security of bonds or notes and interest and redemption premiums thereon, without obtaining the consent of any department, division, commission, board, bureau, or agency of the State of South Dakota and without any other proceeding or the happening of any other condition or occurrence except as specifically required by this chapter.
Source: SL 1978, ch 66, § 40.