5-12-1. Authority created–Composition–Initial terms–Political affiliation–Chairman. There is created the South Dakota Building Authority, a body corporate and politic, to consist of seven members appointed by the Governor with the advice and consent of the Senate. The terms for the initial appointments shall be as follows: one member four years; two members three years; two members […]
5-12-1.1. Authority continued within Bureau of Finance and Management–Records and reports. The South Dakota Building Authority shall continue within the Bureau of Finance and Management, and shall retain all its prescribed functions, including administrative functions. The authority shall submit such records, information, and reports in the form and at such times as required by the […]
5-12-1.2. Meaning of United States Department of Agriculture Conservation Reserve Program. For the purposes of §§5-12-1.2, 5-12-7, 5-12-8, 5-12-8.1, 5-12-16, 5-12-19, 5-12-20, 5-12-22, 5-12-23, and 5-12-37, United States Department of Agriculture Conservation Reserve Program means Subtitle D of Title XII of the United States Food Security Act of 1985, as amended on January 25, 1988, […]
5-12-10. Transfer of state property to authority. Any department, board, commission, agency, or officer of this state or the Board of Regents of the State of South Dakota, may transfer jurisdiction of or title to any property under its or his control to the Building Authority when such transfer is approved, in writing by the […]
5-12-11. Power of authority to acquire property–Methods of acquisition. The Building Authority may acquire by purchase, condemnation (including the power of condemnation in accordance with chapter 21-35), gift or otherwise, construct, complete, remodel, maintain, and equip buildings and other facilities as the Legislature by law declares to be in the public interest. In the course […]
5-12-11.1. Standards and specifications to accommodate persons with disabilities. The standards and specifications set forth in §5-14-13 shall be adhered to by the Bureau of Administration during the construction phase and by the appropriate state agency thereafter in those buildings and facilities constructed by the South Dakota Building Authority or any subdivision thereof if the […]
5-12-12. Plans and specifications for projects to be undertaken. The Board of Regents and the Bureau of Administration on behalf of the executive branch or other agency of state government shall prepare plans and specifications for, and have supervision over, any project to be undertaken by the Building Authority for their use. The Building Authority […]
5-12-13. Lease of facilities and sites to state agencies authorized–Commencement of payments under lease. The Building Authority may execute leases of facilities and sites to, and charge for the use of any such facilities and sites by the Board of Regents, any officer, department, board, commission, or other agency of the State of South Dakota, […]
5-12-14. Terms, conditions, and rental under leases–Annual extension provision. Leases may be (1)Upon such terms, conditions, and rentals, subject to available appropriations, as in the judgment of the building authority are in the public interest, or (2)For a term of one year from the time the building is completed and ready for occupancy, with an […]
5-12-15. Lessee’s option to purchase–Conveyance on exercise of option. The lease may 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 erection of the building and appurtenances not amortized by […]
5-12-16. Taxes and insurance added to rental properties–Authorization to self-insure. The lease may provide that the lessee shall, as additional rent for the leased premises, pay, or provide for the payment of, all taxes assessed against the leased premises if any, and the cost of insuring the building erected thereon against loss or damage by […]
5-12-17. Authority’s power to use facilities for other purposes on nonpayment of rent–Appropriations and funds from which rent payable. The Building Authority may, in the event of nonpayment of rents reserved in such leases, maintain and operate such facilities and sites or execute leases thereof to others for any suitable purposes. Such leases to the […]
5-12-18. Costs and reserves to be covered by rent and charges. The charges, fees, or rentals established by the Building Authority for the use of any facilities acquired, constructed, completed, remodeled, or equipped in whole or in part with the proceeds of the bonds issued as provided in this chapter shall be sufficient at all […]
5-12-19. Tax exemption of property owned or leased by authority–Exception. Except as hereinafter provided, all land, improvements, and capital equipment owned by the Building Authority, or being leased or acquired by the authority pursuant to a lease having a fixed term plus renewal options exceeding three years, or a lease-purchase or installment purchase contract, shall […]
5-12-2. Terms of members–Vacancies–Quorum. All appointments to the South Dakota Building Authority shall be made for a four-year term. Each member’s term of office shall expire on the appropriate third Monday in January, but he shall continue to hold office until his successor is appointed and qualified. Any vacancy in the authority shall be filled […]
5-12-20. Resolutions for revenue bonds authorized–Purpose–Legislative approval required. The Building Authority may 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 a combination of projects. However, no project may be let for construction, nor any revenue bonds be sold […]
5-12-21. Purposes for which bonds issued–Refunding and refinancing–Pledge of income. To accomplish projects of the kind authorized in this chapter, the Building Authority may borrow money and issue and sell bonds in such amount or amounts as the authority may determine for the purpose of acquiring, constructing, completing, or remodeling, maintaining or equipping any such […]
5-12-22. Terms and interest rate of bonds. All such bonds shall mature within twenty-five years from date and shall bear interest at a rate to be negotiated and may be sold by the Building Authority in such manner as it may deem to be in the best public interest. Source: SL 1967, ch 276, §6; […]
5-12-23. Revenues and income from which bonds payable–Use of educational facilities fund–Disposition of revenues. Such bonds shall be payable solely and only from: (1)Revenues to be derived by the building authority from the operation of any such facilities acquired, constructed, completed, remodeled or equipped in whole or in part with the proceeds of the bonds; […]
5-12-24. Execution and registration of bonds–Validity of signature by officers. Such bonds shall be executed by such officers of the Building Authority as shall be designated by the authority, and shall be registered by the state auditor of the State of South Dakota. Any bonds bearing the signature of officers in office at the date […]
