Section 5-12-48.1 – .Authority may invest funds in certain permitted investments.
5-12-48.1. Authority may invest funds in certain permitted investments. In addition to all other powers established pursuant to chapter 5-12, the building authority may invest its funds or the funds under its control or direction in permitted investments as defined in subdivision 5-12-48(10). Source: SL 2002, ch 31, §1.
Section 5-12-49 – .Transfer and sale of state’s right to tobacco settlement revenues–Disposition of funds–Written agreement–Filing of agreement.
5-12-49. Transfer and sale of state’s right to tobacco settlement revenues–Disposition of funds–Written agreement–Filing of agreement. At any one time or from time to time, all or any portion of the right, title, and interest of the State of South Dakota in, to, and under the master settlement agreement, including the right to receive and […]
Section 5-12-50 – .Establishment of special purpose corporation–Limitations–Board membership–Powers of corporation.
5-12-50. Establishment of special purpose corporation–Limitations–Board membership–Powers of corporation. The authority may establish by resolution a special purpose corporation which shall be body corporate and politic and instrumentality of, but having a legal existence independent and separate from, the State of South Dakota and the authority. The corporation shall be established for the express limited […]
Section 5-12-40 – .Bylaws, rules, and regulations of authority.
5-12-40. Bylaws, rules, and regulations of authority. To accomplish projects of the kind listed in this chapter, the authority may adopt all necessary bylaws, rules, and regulations for the conduct of the business and affairs of the authority, and for the management and use of facilities and sites acquired under the powers granted by this […]
Section 5-12-41 – .Severability of provisions.
5-12-41. Severability of provisions. If any clause or other portion of this chapter shall be held invalid, that decision shall not affect the validity of the remaining portions of this chapter. It is hereby declared that all such remaining portions of this chapter are severable, and that the Legislature would have enacted such remaining portions […]
Section 5-12-42 – .Sale and lease-back arrangements–Sales and land leases authorized–Use of proceeds.
5-12-42. Sale and lease-back arrangements–Sales and land leases authorized–Use of proceeds. Improved or unimproved land held by or transferred to the Building Authority pursuant to §5-12-10, may be leased and the improvements thereon sold to a person, partnership, association, limited liability company, or corporation. The improvements may be sold only at their fair market value […]
Section 5-12-43 – .Sale and lease-back arrangements–Contracts to acquire use or ownership authorized–Terms.
5-12-43. Sale and lease-back arrangements–Contracts to acquire use or ownership authorized–Terms. The Building Authority may enter into any contract necessary to acquire the right to use or the ownership, or both, of land leased and improvements sold by it under §5-12-42, and any other improvements made upon such land, and capital equipment needed for the […]
Section 5-12-44 – .Provisions applicable to contracts to acquire use or ownership.
5-12-44. Provisions applicable to contracts to acquire use or ownership. The provisions of §§5-12-13 to 5-12-18, inclusive, apply to all land, improvements and capital equipment which the Building Authority may occupy or use pursuant to any contract described in §5-12-43. Source: SL 1983, ch 32, §3.
Section 5-12-45 – .Revenue bonds to finance sale and lease-back arrangements–Lending proceeds–Refund or refinance of obligations.
5-12-45. Revenue bonds to finance sale and lease-back arrangements–Lending proceeds–Refund or refinance of obligations. The Building Authority may provide, by resolution, for the issuance and sale of revenue bonds to finance all or any part of the capital cost of any land, buildings, or other improvements or equipment of a capital nature to be acquired […]
Section 5-12-46 – .Legislative approval required for sale and lease-back arrangements.
5-12-46. Legislative approval required for sale and lease-back arrangements. No sale or lease-back of any land or improvements as described in §§5-12-42 and 5-12-43 shall be initiated later than July 1, 1984, without prior legislative approval. Source: SL 1983, ch 32, §8.