28-18-1. Formation of nonprofit corporations for care of aged authorized. Authority is hereby given for the incorporation of nonprofit self-sustaining corporations formed for the care and accommodation of aged persons, when duly licensed as approved by the laws of the State of South Dakota. Source: SL 1953, ch 302, §1; SDC Supp 1960, §27.1209.
28-18-11. Covenants and agreements in municipal revenue bonds for protection of bondholders–Remedies of bondholders. By the resolution or ordinance authorizing revenue bonds, the governing body may make and enter into on the part of the municipality covenants and agreements with the purchasers and holders thereof from time to time concerning minimum rentals and charges, continuance […]
28-18-12. Reference in bonds to authorizing resolutions–Negotiability. Bonds issued pursuant to §28-18-7 may refer to the authorizing resolution or resolutions for matters not expressed in the bonds, but they shall be negotiable investment securities within the meaning of chapter 57A-8, notwithstanding any conditions expressed therein or in the resolutions. Source: SL 1963, ch 286, §5; […]
28-18-14. Special fund created prior to delivery of bonds–Gross receipts pledged to fund. Prior to delivery of any such bonds, the governing body shall by the resolutions required by §28-18-7 create a special fund and appropriate and pledge thereto all gross receipts in respect of rentals, fees, licenses, and other charges however designated, imposed by […]
28-18-17. Rentals and charges established by municipality–Expenses and bond retirement covered by revenues. The governing body of each municipality issuing bonds under §28-18-7 shall have the authority, and it shall be its duty, to establish and collect reasonable rentals or charges for the use and occupancy of and for the services furnished at such facilities. […]
28-18-17.1. Lease-purchase agreements authorized–Pledge of facility and net earnings to payment of bonds and interest. The governing body of each municipality shall have the power to enter into lease-purchase agreements for a term not to exceed the maturity of the bonds issued under §28-18-7 by ordinance with any person, firm, or corporation for such facilities. […]
28-18-18. Operational expenses paid from special fund–Appropriations for payment of bonds. From the fund created pursuant to §28-18-14 shall be paid as incurred and allowed all normal, reasonable, and current expenses of the operation and maintenance of the facilities, and the revenues remaining in said fund from time to time after payment of such expenses […]
28-18-19. Findings and determinations binding on municipality. The findings and determinations authorized in §§28-18-7 to 28-18-18, inclusive, shall constitute binding representations, recitals, and covenants of each municipality issuing revenue bonds hereunder to and with the purchasers and holders of all such bonds. Source: SL 1963, ch 286, §2.
28-18-2. Area of operation of nonprofit corporation–Control by board of directors. Such nonprofit corporations may operate over an area of one or more counties. Direction and control of such corporations shall be exercised by a board of directors, selected as provided by law for such corporations. Source: SL 1953, ch 302, §1; SDC Supp 1960, […]
28-18-20. Severability of provisions. If any provision of §§28-18-7 to 28-18-19, inclusive, or any resolution or resolutions authorizing the issuance of bonds pursuant to said sections, or the application thereof to any person or circumstances, shall be held invalid in any legal proceedings, such invalidity shall not affect other provisions or applications of said sections […]
28-18-3. Self-liquidating bonds issued by nonprofit corporation. Such board of directors may issue self-liquidating bonds for the purpose of constructing or equipping necessary facilities for the purposes of the corporation. Source: SL 1953, ch 302, §1; SDC Supp 1960, §27.1209.
28-18-4. Cooperation and contributions of private and public agencies accepted by nonprofit corporation–Charges and conditions for admission. In the operation of such nonprofit corporation, the cooperation and assistance of private individuals and charitable organizations may be utilized and the contributions of private or public agencies may be accepted. The board of directors shall have power […]
28-18-5. Lease of property to nonprofit corporation by Department of Social Services. The Department of Social Services may lease any property under its jurisdiction, suitable for the establishment of such homes for the aged to any corporation or charitable organization that could qualify to the provisions of §§28-18-1 to 28-18-4, inclusive. Source: SL 1953, ch […]
28-18-6. County and municipal contributions to nonprofit corporations–Maximum–Appropriation from general fund. The boards of county commissioners of the several counties and the governing bodies of municipalities of this state, may, in their discretion, contribute sums of money annually not to exceed twenty thousand dollars per annum to nonprofit self-sustaining corporations formed for the care and […]
28-18-7. Municipal revenue bonds authorized for establishment and operation of facilities for the aged. Any municipality may issue revenue bonds to provide funds for the purpose of acquiring, constructing, improving, operating, and maintaining municipal hospitals, nursing homes, retirement homes, or related institutions for the care of the aged or for the purpose of refunding outstanding […]
28-18-8. Authorization, issuance, and sale of bonds. All bonds shall be authorized, issued, and sold as provided in chapter 6-8B and §9-54-12. Source: SL 1963, ch 286, §1; SL 1984, ch 43, §105.
28-18-9. Municipal revenue bonds payable solely from revenues–Credit and taxing power not pledged–Indebtedness not within constitutional limits. Such revenue bonds shall be payable solely from and shall constitute a lien upon the gross revenues derived from and traceable to properties acquired by the expenditure of the proceeds of revenue bonds, or of bonds refunded thereby, […]
