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Code · South Dakota · Title 1 · Chapter 1-16

1-16A-54.2. Amount and terms of securities purchased--Mortgage--Insurance and guaranties.

86 words·~1 min read·/sd/title-1/chapter-1-16/1-16a-54-2·

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Any securities purchased pursuant to § 1-16A-54.1 shall have the same principal amounts, maturities, and interest rates as the bonds being issued pursuant to § 1-16A-54.1 . If the authority deems it advisable, the securities may be secured by a first mortgage lien on the educational or health facility being financed. If a mortgage is required, the securities are subject to any exception approved by the authority and created by a mortgage instrument satisfactory to the authority. The securities may be insured or guaranteed by others.
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