{"data":{"id":"us-sd/sdcl-6-8b-54","jurisdiction":"us-sd","citation":"SDCL § 6-8B-54","heading":"Securities purchased for debt service fund limited.","body":"Securities purchased for the debt service fund shall be limited to:\n(1) General obligations of the United States, securities whose principal and interest payments are guaranteed by the United States, and securities issued by the following agencies of the United States: banks for cooperatives, federal home loan banks, federal intermediate credit banks, federal land banks, and the federal national mortgage association; or\n(2) Obligations issued or guaranteed by any state or any political subdivision of a state, which at the date of purchase are rated the highest or the next highest rating given by Standard and Poor's Corporation, Moody's Investors Service, or a similar nationally recognized rating agency, but not less than the rating on the refunded bonds immediately prior to the refunding.","path":["TITLE 6. LOCAL GOVERNMENT GENERALLY","CHAPTER 6-8B. BONDS OF LOCAL PUBLIC BODIES"],"source_url":"https://sdlegislature.gov/Statutes/6-8B-54","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:56Z","sha256":"d2b568ecdfca5f1bc693229f66f22255f9d4be9265d110883077c79820947999","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-6-8b-53","next":"us-sd/sdcl-6-8b-55"},"notice":"GroundRules: Original legal text. Not legal advice."}