Section 11-7-91 - Provision for project revenues to be placed in debt service funds

11-7-91. Provision for project revenues to be placed in debt service funds.The commission may in its discretion provide that all revenues received from its redevelopment projects be placed in a debt service fund for the payment of interest and principal on all bonds issued for any redevelopment project, and the revenue from all such projects shall be paid into the debt service fund until all outstanding bonds have been fully paid. This same power shall exist with regard to housing projects. Source: SL 1950 (SS), ch 13, §20, subdiv 5; SDC Supp 1960, §45.3620 (5).