Section 46A-6-15 - Covenants and agreements to protect security and payment of bonds--Agreements included.
46A-6-15. Covenants and agreements to protect security and payment of bonds--Agreements included. Any resolution or resolutions authorizing the issuance of bonds of the irrigation district may contain covenants and agreements on the part of the district to protect and safeguard the security and payment of such bonds, which shall be a part of the contract with the holders of the bonds thereby authorized, including agreements for the setting aside of reserves or debt service funds and the regulation, investment, and disposition thereof, and including agreements as the use of trustees to further protect the interest of bondholders, and including any other agreements, of a like or different nature, which in any way affect the security or protection of bonds of the district.
Source: SL 1976, ch 277, § 26; SDCL Supp, § 46-14-14.1.