<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 5-12-32 - Debt limitations not applicable to interim notes--Personal liability not created by execution of notes. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2034390Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034390SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034390CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2034390Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034390DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2034390Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034390000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034390SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034390SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2034390Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-12-32"><span class="s2034390SENU">5-12-32</span></a><span xml:space="preserve" class="s2034390SENU">. </span><span class="s2034390CL">Debt limitations not applicable to interim notes--Personal liability not created by execution of notes.</span></p><p dir="ltr" class="s2034390Normal-000000"><span class="s2034390DefaultParagraphFont">The interim notes shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.</span></p><p dir="ltr" class="s2034390Normal-000001"><span class="s2034390DefaultParagraphFont">No member, officer, agent, or employee of the authority, nor any other person who executes interim notes, shall be liable personally by reason of the issuance thereof.</span></p><p dir="ltr" class="s2034390Normal"><span xml:space="preserve" class="s2034390000002"> </span></p><p dir="ltr" class="s2034390Normal"><span class="s2034390SCL">Source:</span><span xml:space="preserve" class="s2034390SCL-000003"> SL 1967, ch 276, § 5.</span></p></div></body></html>