Section 46A-1-51 - Financing agreements--Proper authority required. - South Dakota Statutes

46A-1-51. Financing agreements--Proper authority required. Before entering into any financing agreement under § 46A-1-49, the Board of Water and Natural Resources shall be satisfied by opinion of the attorney general, by an examination of relevant charters, resolutions, minutes, and other documents, or by other sufficient means that the person or public entity receiving such financing has the authority and power to construct the project, borrow these funds and enter into the financing agreement. The board shall also be so satisfied that all procedures, resolutions, and other things necessary to exercise such authority have been properly performed.

Source: SL 1980, ch 310, § 4; SDCL Supp, § 46-17A-46.3.