Section 9-41A-52 – Property already used for electric power not subject to condemnation.
9-41A-52. Property already used for electric power not subject to condemnation. A municipal power agency shall have no power of eminent domain with respect to any real or personal property owned by any person as part of a system, whether existing, under construction, or being planned, of facilities for the generation, transmission, or distribution of […]
Section 9-41A-53 – Exemption from bidding and performance bond requirements applicable to public contracts.
9-41A-53. Exemption from bidding and performance bond requirements applicable to public contracts. A municipal power agency may contract for planning, acquisition, construction, reconstruction, operation, maintenance, repair, extension, and improvement of generation and transmission facilities outside of the corporate limits of its members, or may contract with other public or private owners of these facilities to […]
Section 9-41A-54 – Establishment of rates, charges and reserves.
9-41A-54. Establishment of rates, charges and reserves. A municipal power agency may make and enforce bylaws or rules which it deems necessary or desirable, and may establish, levy, and collect or may authorize, by contract, franchise, lease, or otherwise, the establishment, levying, and collection of, rents, rates, and other charges for the services afforded by […]
Section 9-41A-55 – Pledge of revenues to bonds, notes and contractual obligations.
9-41A-55. Pledge of revenues to bonds, notes and contractual obligations. A municipal power agency may pledge its rates, rents, and other revenues, or any part thereof, as security for the repayment, with interest and redemption premiums, if any, of the moneys borrowed by it or advanced to it for any of its authorized purposes and […]
Section 9-41A-46 – Bonds and notes as legal investments for public, corporate and fiduciary funds.
9-41A-46. Bonds and notes as legal investments for public, corporate and fiduciary funds. The State of South Dakota and all its public officers, governmental units, agencies and instrumentalities, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all […]
Section 9-41A-47 – Trust indenture or security agreement as contract with holders of bonds or notes–Contents.
9-41A-47. Trust indenture or security agreement as contract with holders of bonds or notes–Contents. The resolution, trust indenture, or other security agreement under which any bonds or notes are issued shall constitute a contract with the holders of the bonds or notes, and may contain provisions, among others, prescribing: (1)The terms and provisions of the […]
Section 9-41A-48 – Encumbrance of property to secure bonds and notes–Filings.
9-41A-48. Encumbrance of property to secure bonds and notes–Filings. For the security of bonds or notes issued, or to be issued, by a municipal power agency, the municipal power agency may mortgage or execute deeds of trust of the whole or any part of its property and franchises in the same manner and with the […]
Section 9-41A-49 – Officers and members of agency not personally liable on bonds or notes.
9-41A-49. Officers and members of agency not personally liable on bonds or notes. Neither the officials, the directors, nor the members of a municipal power agency nor any person executing bonds or notes shall be liable personally on the bonds or notes or be subject to any personal liability or accountability by reason of the […]
Section 9-41A-50 – Repurchase of bonds and notes–Cancellation or resale.
9-41A-50. Repurchase of bonds and notes–Cancellation or resale. A municipal power agency may purchase, out of any funds available therefor, bonds or notes, and to hold, pledge, cancel, or resell the bonds or notes, subject to and in accordance with any agreements with the holders. Source: SL 1978, ch 66, §44.
Section 9-41A-51 – Condemnation under power of eminent domain–Continuing power.
9-41A-51. Condemnation under power of eminent domain–Continuing power. Except as otherwise provided by §9-41A-52, a municipal power agency may acquire all real or personal property that it deems necessary for carrying out the purposes of this chapter, whether in fee simple absolute or a lesser interest, by condemnation and the exercise of the power of […]