This is a Prior instruments and Obligations form, in addition to being made subject to all conveyances, reservations, and exceptions or other instruments of record, this assignment is made and assignee accepts this assignment subject to all terms, provisions, covenants, conditions, obligations, and agreements, including but not limited to the plugging responsibility for any well, surface restoration, or preferential purchase rights, contained in any contracts existing as of the effective date of this assignment and affecting the assigned property, whether or not recorded.
South Dakota Prior instruments and Obligations refer to legal agreements and financial instruments that have been issued by the state of South Dakota in order to raise funds for specific purposes. These instruments are used to finance various projects and initiatives that benefit the state and its residents. There are several types of South Dakota Prior instruments and Obligations, including: 1. Bonds: Bonds are debt instruments issued by the state to raise funds for public projects such as infrastructure development, education, and healthcare. They offer fixed interest rates and typically have a maturity period ranging from a few years to several decades. 2. Tax Increment Financing (TIF): TIF is a financing tool utilized by the state to stimulate economic development in specific areas. It allows the state to capture a portion of the tax revenue generated by a project and use it to repay the debt incurred to fund that project. 3. Special Assessment Bonds: Special Assessment Bonds are issued to finance public improvements that benefit a specific property or area. The debt is repaid through special assessments or taxes levied on the benefited properties. 4. Lease Revenue Bonds: Lease Revenue Bonds are issued by the state in exchange for lease payments from another entity, usually a government agency or institution. These bonds are secured by the lease agreement and provide funds for capital projects or equipment purchases. 5. Capital Lease Agreements: A capital lease agreement is a long-term lease through which the state acquires the use of an asset, typically land or equipment, for a fixed period of time. The lease payments cover both the principal and interest, ultimately allowing the state to own the asset at the end of the agreement. 6. Tax Anticipation Notes (Tans): Tans are short-term debt instruments issued by the state to meet cash flow needs during times when tax collections are lower. They are typically repaid with the tax revenues collected within the fiscal year. 7. Revenue Anticipation Notes (Fans): Fans are similar to Tans but are backed by future revenue streams, such as incoming payments from contracts or grants. These short-term obligations bridge the gap between when the revenue is expected and when it is received. South Dakota employs these various prior instruments and obligations to responsibly raise capital for essential public projects and initiatives. They offer funding options with different repayment structures and flexibility to meet the state's financial needs efficiently.
