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 9-52-24 – Custody and disbursement of auditorium funds–Petty cash fund.
9-52-24. Custody and disbursement of auditorium funds–Petty cash fund. All funds pertaining to the auditorium shall be placed in the custody of the municipal treasurer, and shall be expended only upon warrants drawn by the municipal auditor or clerk on said treasurer, pursuant to allowance by the auditorium board of duly verified claims; provided, that […]
Section 9-52-25 – Annual report by auditorium board to governing body–Records subject to inspection.
9-52-25. Annual report by auditorium board to governing body–Records subject to inspection. The auditorium board shall make an annual report to the governing body of its acts and all its expenditures, showing the condition of all affairs under its control, and its records, books, papers, and accounts shall at all reasonable times be subject to […]
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 9-52-4 – Authorization, issuance and sale of bonds–Vote required.
9-52-4. Authorization, issuance and sale of bonds–Vote required. All bonds shall be authorized, issued, and sold as provided in chapter 6-8B, if a majority of the registered voters voting at the bond election vote to authorize the bond issue. Source: SL 1951, ch 246, §1; SDC Supp 1960, §45.24B01; SL 1984, ch 43, §97.
Section 9-52-5 – Municipal indebtedness not authorized by chapter.
9-52-5. Municipal indebtedness not authorized by chapter. Nothing contained in this chapter shall be deemed to authorize the incurring by any municipality of indebtedness within the meaning of any constitutional or statutory limitation upon municipal indebtedness. Source: SL 1951, ch 246, §10; SDC Supp 1960, §45.24B10.