Section 9-54-8 – Lease or sale payments sufficient to pay bonds and costs–Payments in lieu of property taxes.
9-54-8. Lease or sale payments sufficient to pay bonds and costs–Payments in lieu of property taxes. Revenue agreements pursuant to §9-54-3.1 shall provide for contractual payments sufficient to pay the principal, premium, if any, and interest on any bonds issued by the municipality under the resolution or ordinance or trust indenture, when due or subject […]
Section 9-54-8.1 – Lease with option to purchase–Title acquired before bonds retired–Pledge for payment of bonds.
9-54-8.1. Lease with option to purchase–Title acquired before bonds retired–Pledge for payment of bonds. Any lease agreement may grant an option to the lessee to purchase the project at a price and upon other conditions sufficient to assure the payment and redemption of the bonds and payment and reimbursement of all such other charges and […]
Section 9-54-9 – Municipal obligations restricted by contractual payments from facilities.
9-54-9. Municipal obligations restricted by contractual payments from facilities. Nothing in this chapter shall be so construed as to authorize or permit any municipality to make any contract or to incur any obligation of any kind or nature except such as shall be payable solely out of the contractual payments from such facilities. Source: SL […]
Section 9-54-10 – County and sanitary district powers.
9-54-10. County and sanitary district powers. Any county shall have the same powers as a municipality under this chapter. Any sanitary district shall have the same powers as a municipality under this chapter with respect to any project providing sewer service or control of water pollution. Source: SL 1972, ch 45, §5.
Section 9-54-11 – Municipal joint or cooperative agreements.
9-54-11. Municipal joint or cooperative agreements. Any municipality, in order to accomplish the purposes provided in this chapter, may enter into agreements with any other public agency or agencies for joint or cooperative action and such agreements shall be governed by the provisions of chapter 1-24. Source: SL 1972, ch 45, §2.
Section 9-54-12 – Compliance with federal requirements for tax exemption.
9-54-12. Compliance with federal requirements for tax exemption. Notwithstanding any provision under the laws of the State of South Dakota, a municipality in order to accomplish the purposes provided in this section and chapter 6-8B may perform all acts necessary to comply with the requirements of §103 of the Internal Revenue Code of 1954, as […]
Section 9-55-1 – Definition of terms.
9-55-1. Definition of terms. Terms as used in this chapter mean: (1)”Assessable unit,” the front foot, square foot, equivalent front foot, or other unit of assessment established under the proposed method of assessment set forth in the resolution of intent to create a business improvement district; (2)”Occupation tax,” a fee imposed on any person with […]
Section 9-54-2 – Power to issue bonds, acquire or construct projects and enter revenue agreements–Location of projects.
9-54-2. Power to issue bonds, acquire or construct projects and enter revenue agreements–Location of projects. For the purposes stated in §9-54-1, any municipality may issue revenue bonds, the proceeds of which shall be used only to purchase, construct, reconstruct, acquire sites for, enlarge, improve, or remodel buildings, structures, or equipment, and to enter into revenue […]
Section 9-55-2 – Imposition of special assessment or general business license and occupation tax.
9-55-2. Imposition of special assessment or general business license and occupation tax. Any municipality may impose a special assessment upon the property within a business improvement district in the municipality or a general business license and occupation tax on businesses and users of space within a business improvement district or both. Source: SL 1986, ch […]
Section 9-54-2.1 – Power to issue revenue bonds, purchase or discharge debt of nonprofit corporation operating health care or housing facility and enter revenue agreements–Location of project.
9-54-2.1. Power to issue revenue bonds, purchase or discharge debt of nonprofit corporation operating health care or housing facility and enter revenue agreements–Location of project. With respect to hospitals, nursing homes, other health care facilities, housing for the elderly, housing for the handicapped, wellness centers, or primary, secondary, or postsecondary schools to be operated by […]