Section 9-52-28 – Severability of chapter and resolutions.
9-52-28. Severability of chapter and resolutions. If any provision of this chapter, or of any resolution or resolutions authorizing the issuance of bonds pursuant to this chapter, 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 this […]
Section 9-52-29 – Sale and lease-back arrangements–Tax exemption.
9-52-29. Sale and lease-back arrangements–Tax exemption. The governing body of a municipality may by ordinance exercise all the powers conferred on the South Dakota Building Authority and the Governor pursuant to and in the manner provided by §§5-12-15, 5-12-19, 5-12-42 to 5-12-45, inclusive, with respect to the acquisition, lease, sale and lease-back of land, improvements […]
Section 9-52-30 – Sale and lease-back arrangements–Validation of prior actions.
9-52-30. Sale and lease-back arrangements–Validation of prior actions. All ordinances, resolutions, and other actions and proceedings adopted before June 12, 1984, and taken by the governing body of a municipality with respect to an existing auditorium or convention center and related facilities in the exercise of the powers granted by §§9-52-29 to 9-52-31, inclusive, and […]
Section 9-52-31 – Sale and lease-back arrangements–Powers additional.
9-52-31. Sale and lease-back arrangements–Powers additional. The powers conferred by §§9-52-29 to 9-52-31, inclusive, are in addition to all other powers conferred upon the governing body of any such municipality, and their exercise shall be subject only to such restrictions as may be provided by the South Dakota Constitution and are not subject to any […]
Section 9-52-11 – Findings and determinations as binding covenants.
9-52-11. Findings and determinations as binding covenants. The findings and determinations herein authorized 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 1951, ch 246, §2; SDC Supp 1960, §45.24B02.
Section 9-52-12 – Reference to authorizing resolutions for matters not covered in bonds–Negotiability.
9-52-12. Reference to authorizing resolutions for matters not covered in bonds–Negotiability. Bonds issued pursuant to this chapter 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: […]
Section 9-52-15 – Bondholders’ statutory mortgage on auditorium property–Enforcement of lien and compelling performance of duties.
9-52-15. Bondholders’ statutory mortgage on auditorium property–Enforcement of lien and compelling performance of duties. There shall be a statutory mortgage lien upon all properties acquired by any municipality for auditorium purposes by the use of the proceeds of revenue bonds issued under the provisions of this chapter, and all additions and improvements thereto financed out […]
Section 9-52-16 – Admission charges and auditorium rentals–Adequacy for expenses, return on municipal investment and retirement of bonds.
9-52-16. Admission charges and auditorium rentals–Adequacy for expenses, return on municipal investment and retirement of bonds. The governing body of each municipality issuing bonds under this chapter shall have the authority, and it shall be its duty, to establish and collect reasonable charges for the admission of all persons to the auditorium premises for the […]
Section 9-52-17 – Operation for purpose of profit prohibited.
9-52-17. Operation for purpose of profit prohibited. Municipalities shall not be authorized to operate revenue-producing enterprises of the nature described in this chapter for the purpose of profit or return greater than necessary to pay the cost of acquisition, improvement, operation, and maintenance thereof and interest on money borrowed or advanced from general funds for […]
Section 9-52-23 – General powers of auditorium board–Copies of board proceedings as evidence.
9-52-23. General powers of auditorium board–Copies of board proceedings as evidence. The board shall have power to contract for supplies and services necessary to the operation and maintenance of the auditorium, and for the rental of the same or any part thereof; to fix and collect rentals and charges for admission; to schedule and determine […]