Section 9-52-26 – Auditorium board governed by terms of bonds and resolutions.
9-52-26. Auditorium board governed by terms of bonds and resolutions. All actions of the board shall at all times be governed by and subject to all covenants, agreements and limitations contained in the resolutions of the governing body authorizing outstanding revenue bonds, and such resolutions may reserve to the governing body the exercise or supervision […]
Section 9-52-27 – Receivership on default in bonds or dissipation of auditorium assets–Powers of receiver–Termination of receivership.
9-52-27. Receivership on default in bonds or dissipation of auditorium assets–Powers of receiver–Termination of receivership. If there be any default in the payment of the principal of or interest on any bonds issued pursuant to this chapter, or a breach of any other condition thereof materially affecting the rights of any bondholder and continuing for […]
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 […]
Section 9-51-51 – Discontinuance or diversion of use of parking facilities–Contracts and covenants to be honored–Referendum.
9-51-51. Discontinuance or diversion of use of parking facilities–Contracts and covenants to be honored–Referendum. The governing body of any municipality may discontinue or use for another purpose any parking lot or area or off-street parking facility heretofore or hereafter acquired upon resolution of the governing body. No such discontinuance or diversion of its use shall […]
Section 9-52-1 – Power to construct, operate, and maintain auditorium.
9-52-1. Power to construct, operate, and maintain auditorium. Every municipality shall have power to construct, operate, and maintain an auditorium. Source: SL 1917, ch 310, §1; RC 1919, §6169 (26); SDC 1939, §45.0201 (15).