49-16B-1. Legislative declarations–Public participation in railroad ownership and operation. It is hereby declared: (1)That there exists within the state a serious emergency as a result of the imminent abandonment by railroads of substantial services which they have provided within the state, and the deteriorated condition of their properties and facilities; (2)That the abandonment of service […]
49-16B-10. Projects authority may undertake. For the purpose of developing the resources and improving the economic facilities of the state, the authority may engage in works of internal improvement and may own and conduct proper business enterprises through: (1)Planning, establishing, acquiring, developing, constructing, purchasing, enlarging, maintaining, equipping, and protecting railroads and railroad facilities, including railroad […]
49-16B-11. Report to legislature recommending projects. The authority shall obtain estimates of the cost of any project it deems necessary or convenient and shall formulate and recommend a list of projects. The authority shall present a report including its recommendations, proposed projects and estimated costs to the Legislature not later than the first day of […]
49-16B-12. Transfer of jurisdiction or property to authority–Governor’s approval. Any department, board, commission, agency, or officer of the state may transfer jurisdiction of or title to any property under its or the officer’s control to the authority if the transfer is approved, in writing, by the Governor, as being advantageous to the state. Source: SL […]
49-16B-13. Acquisition of property–Construction and maintenance of railroad facilities. To accomplish projects of the kind listed in §49-16B-10 the authority may acquire by purchase, condemnation, including the power of condemnation in accordance with chapters 21-35 and 31-19, including the eminent domain and declaration of taking sections therein, gift or otherwise. The authority may construct, maintain, […]
49-16B-13.1. Approval of expenditures by railroad board and Governor. The authority shall receive approval for all proposed expenditures from the South Dakota State Railroad Board and the Governor. Source: SL 1981, ch 100, §5; SL 2010, ch 145, §194.
49-16B-13.2. Maintenance of public railroad property by Department of Transportation. The Department of Transportation, in accord with its obligation to maintain certain public highways under §31-5-1, shall maintain the public railroad property purchased and owned by the state pursuant to chapter 49-16B. Source: SL 1981, ch 331, §4; SL 2010, ch 145, §195.
49-16B-14. Department of Transportation’s powers as to projects. The Department of Transportation shall prepare or review and approve plans and specifications for and have supervision over any project to be undertaken by the authority. Source: SL 1980, ch 323, §14; SL 1996, ch 20, §24.
49-16B-15. Lease of facilities and sites. To accomplish projects of the kind listed in §49-16B-10, the authority may execute leases of facilities and sites to, and charge for the use of any such facilities and sites by the Department of Transportation or other lessee. Leases may be entered into contemporaneously with any financing to be […]
49-16B-16. Lease terms, conditions and rentals. Leases may be: (1)Upon such terms, conditions, and rentals as in the judgment of the authority are in the public interest; or (2)For a term of one year, with an option in the lessee to extend the term of the lease for a term of one year from the […]
49-16B-17. Leases to contain option to purchase–Purchase price. The lease shall provide that the lessee may, at the expiration of the original or any extended term, purchase the leased premises at a stated price, which shall be the balance of the total cost of the project financed not amortized by the payments of rents previously […]
49-16B-18. Lease provisions for lessee’s payment of taxes, insurance and other costs. The lease may provide that the lessee shall, as additional rent for the leased premises, pay all taxes assessed against the leased premises if any, and the cost of insuring, maintaining, repairing, and operating the facilities. Source: SL 1980, ch 323, §18.
49-16B-19. Leases to Department of Transportation–Rents payable solely from appropriations–Amount. Leases to the Department of Transportation shall contain the provision that rents under the leases are payable solely from appropriations to be made by the Legislature for the payment of rent under the leases may not exceed an amount sufficient to pay principal of and […]
49-16B-2. Definitions of terms. Terms used in this chapter mean: (1)”Authority,” the South Dakota Railroad Authority; (2)”Railroad facilities,” or “facilities,” all property either real, personal, or mixed used or useful in the conduct of railroad services. Source: SL 1980, ch 323, §2; SL 1996, ch 20, §22.
49-16B-20. Nonpayment of rent–Maintenance, operation, or lease of facilities. The authority may, in the event of nonpayment of rents reserved in such leases, maintain and operate the facilities and sites or execute leases of the facilities and sites to others for any suitable purposes. Source: SL 1980, ch 323, §20; SL 2010, ch 145, §196.
49-16B-21. Rental and charges for facilities leased to other than Department of Transportation–Conveyance at conclusion. The charges, fees, or rentals established by the authority for the use of any facilities acquired, constructed, completed, or equipped in whole or in part with the proceeds of the bonds or instruments issued as provided in this chapter and […]
49-16B-22. Tax exempt status of authority’s property. All property owned by the authority is exempt from taxation. Source: SL 1980, ch 323, §21.
49-16B-23. Negotiable revenue bonds–Resolution for issuance–Legislative approval. The authority may at one time, or from time to time, provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or any part of the cost of one or combination of projects. However, no revenue bonds may be sold to raise […]
49-16B-24. Borrowing money and issuing bonds authorized–Refunding and refinancing–Pledge of income and revenues. To accomplish projects of the kind listed in §49-16B-10, the authority may borrow money and issue and sell bonds in such amount or amounts as the authority may determine for the purpose of acquiring, improving or equipping any such facility; refund and […]
49-16B-25. Bonds and notes–Resolution–Issuance–Terms. Bonds or notes of the authority shall be authorized by resolution of the authority and may be issued under the resolution or under a trust indenture or other security agreement, in one or more series. The bonds or notes shall bear such date or dates, mature at such time or times, […]
