49-39-3. Resolution specifying particular revenues pledged.Any resolution or agreement pursuant to §49-39-2 may specify the particular revenues that are pledged and the terms and conditions to be performed by the district and the rights of the holders of such revenue debentures, notes, warrants, bonds, or other evidences of indebtedness, and may provide for priorities of liens in any such revenues as between the holders of revenue debentures, notes, warrants, bonds, or other evidences of indebtedness, issued at different times or under different resolutions or agreements. Source: SL 1950 (SS), ch 17, §47; SDC Supp 1960, §52.1747.
South Dakota Legal Code