1-16A-52.5. Return of securities to issuer when provision made for payment.
109 words·~1 min read·
/sd/title-1/chapter-1-16/1-16a-52-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of § 1-16A-56 shall not apply to any educational or health facility financed pursuant to §§ 1-16A-52.1 to 1-16A-52.5 , inclusive, but the authority shall return the securities purchased through the issuance of bonds thereunder to the issuer of such securities when such securities have been fully paid or when such bonds have been fully paid and retired or when adequate provision, not involving the application of such securities, has been made to pay and retire the same fully, all other conditions of the trust agreement or indenture creating such bonds have been satisfied and the lien thereof has been released in accordance with the provisions hereof.