<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 9-41A-48 - Encumbrance of property to secure bonds and notes--Filings. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2037067Normal { 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.s2037067SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2037067CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2037067Normal-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.s2037067DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2037067000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2037067SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2037067SCL-000002 { 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="s2037067Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-41A-48"><span class="s2037067SENU">9-41A-48</span></a><span xml:space="preserve" class="s2037067SENU">. </span><span class="s2037067CL">Encumbrance of property to secure bonds and notes--Filings.</span></p><p dir="ltr" class="s2037067Normal-000000"><span xml:space="preserve" class="s2037067DefaultParagraphFont">For the security of bonds or notes issued, or to be issued, by a municipal power agency, the municipal power agency may mortgage or execute deeds of trust of the whole or any part of its property and franchises in the same manner and with the same effect as provided for public utilities in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-34-9"><span class="s2037067DefaultParagraphFont">49-34-9</span></a><span xml:space="preserve" class="s2037067DefaultParagraphFont">. Any mortgage or deed of trust and any assignment or discharge thereof shall be filed and recorded in the Office of the Secretary of State with the same force and effect as provided in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-34-11"><span class="s2037067DefaultParagraphFont">49-34-11</span></a><span xml:space="preserve" class="s2037067DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-34-12"><span class="s2037067DefaultParagraphFont">49-34-12</span></a><span xml:space="preserve" class="s2037067DefaultParagraphFont">. All filings required under the Uniform Commercial Code to perfect a security interest against the personal property or fixtures of a municipal power agency shall be made and maintained in the Office of the Secretary of State, with the same force and effect as provided in the case of a debtor public utility under the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-9-403.1"><span class="s2037067DefaultParagraphFont">57A-9-403.1</span></a><span xml:space="preserve" class="s2037067DefaultParagraphFont"> to 57A-9-403.5, inclusive.</span></p><p dir="ltr" class="s2037067Normal"><span xml:space="preserve" class="s2037067000001"> </span></p><p dir="ltr" class="s2037067Normal"><span class="s2037067SCL">Source:</span><span xml:space="preserve" class="s2037067SCL-000002"> SL 1978, ch 66, § 42.</span></p></div></body></html>