49-16B-42. Authority to account for income--Disbursements from accounts in fund.The authority shall keep account of the gross total income derived from each separate project or any combination thereof undertaken pursuant to this chapter. Disbursements from a given account in the railroad authority fund shall be ordered by the authority only for the payment of:(1)The principal of and interest on the bonds issued for each project, or combination thereof;(2)The cost of maintenance and operation of the facility or facilities, unless otherwise provided for; and(3)Any other purposes set forth in the resolution authorizing the issuance of said bonds. Source: SL 1980, ch 323, §37.
South Dakota Legal Code