STATE STATUTES & CODES

SOUTH DAKOTA STATUTES AND CODES

Chapter 12 - South Dakota Building Authority

• Section 5-12-1 - Authority created--Composition--Initial terms--Political affiliation--Chairman.
• Section 5-12-1.1 - Authority continued within Bureau of Finance and Management--Records andreports.
• Section 5-12-1.2 - Meaning of United States Department of Agriculture Conservation Reserve Program.
• Section 5-12-2 - Terms of members--Vacancies--Quorum.
• Section 5-12-3 - Oath and bond of members.
• Section 5-12-4 - Members receive no compensation--Reimbursement of expenses.
• Section 5-12-5 - Employment of personnel.
• Section 5-12-6 - Common seal of authority.
• Section 5-12-7 - Purposes of authority.
• Section 5-12-8 - Studies and investigations of land needs.
• Section 5-12-8.1 - Additional powers with respect to projects under § 5-12-8.
• Section 5-12-9 - Repealed.
• Section 5-12-10 - Transfer of state property to authority.
• Section 5-12-11 - Power of authority to acquire property--Methods of acquisition.
• Section 5-12-11.1 - Standards and specifications to accommodate physically handicapped.
• Section 5-12-12 - Plans and specifications for projects to be undertaken.
• Section 5-12-13 - Lease of facilities and sites to state agencies authorized--Commencement ofpayments under lease.
• Section 5-12-14 - Terms, conditions, and rental under leases--Annual extension provision.
• Section 5-12-15 - Lessee's option to purchase--Conveyance on exercise of option.
• Section 5-12-16 - Taxes and insurance added to rental properties--Authorization to self-insure.
• Section 5-12-17 - Authority's power to use facilities for other purposes on nonpayment of rent--Appropriations and funds from which rent payable.
• Section 5-12-18 - Costs and reserves to be covered by rent and charges.
• Section 5-12-19 - Tax exemption of property owned or leased by authority--Exception.
• Section 5-12-20 - Resolutions for revenue bonds authorized--Purpose--Legislative approval required.
• Section 5-12-21 - Purposes for which bonds issued--Refunding and refinancing--Pledge of income.
• Section 5-12-22 - Terms and interest rate of bonds.
• Section 5-12-23 - Revenues and income from which bonds payable--Use of educational facilities fund--Disposition of revenues.
• Section 5-12-24 - Execution and registration of bonds--Validity of signature by officers.
• Section 5-12-25 - Restrictions on obligation stated on face of bonds.
• Section 5-12-26 - Creation of state obligation not authorized.
• Section 5-12-27 - Contract with bondholders--Bondholders' remedies.
• Section 5-12-27.1 - Refunding bonds authorized--Purposes.
• Section 5-12-27.2 - Amount of refunding bonds.
• Section 5-12-27.3 - Exchange or sale of refunding bonds--Proceeds of sale--Cancellation of bonds andcoupons--Evidence of discharge of interest obligation.
• Section 5-12-27.4 - Exchange or sale of bonds--Disposition of proceeds of sale.
• Section 5-12-27.5 - Assistance in conserving and improving soil and water resources of highly erodiblecropland by means of loans--Revenue bonds and interim notes authorized.
• Section 5-12-27.6 - No indebtedness to be charged against state.
• Section 5-12-27.7 - Acceptance and expenditure of gifts, contributions, etc., authorized.
• Section 5-12-27.8 - Lease and sublease agreements with South Dakota Building Authority authorized tosupport purpose and payment of revenue bonds or interim notes.
• Sections 5-12-28, 5-12-29 - Interim notes authorized--Purposes of borrowing. Resolution for issuance of interim notes--Interest rate--Maturity date
• Section 5-12-30 - Terms and registration of interim notes--Redemption prior to maturity--Execution ofnotes--Pledge of income and revenue.
• Section 5-12-31 - Additional provisions to secure payment of interim notes.
• Section 5-12-32 - Debt limitations not applicable to interim notes--Personal liability not created byexecution of notes.
• Section 5-12-33 - Payment of interim notes or purchase of government obligations with proceeds fromsale of revenue bonds.
• Section 5-12-34 - Disposition of income under chapter--Public building fund.
• Section 5-12-35 - Accounts maintained by authority--Purpose of disbursements from public buildingfund.
• Section 5-12-36 - Authority to convey property to state when debt paid or payment provided for--Reversion to authority.
• Section 5-12-37 - Record of rental payments under lease--Conveyance to lessee after amortization ofdebt.
• Section 5-12-38 - Annual audit.
• Section 5-12-38.1 - Informational budget required.
• Section 5-12-39 - Contractual power of authority.
• Section 5-12-40 - Bylaws, rules, and regulations of authority.
• Section 5-12-41 - Severability of provisions.
• Section 5-12-42 - Sale and lease-back arrangements--Sales and land leases authorized--Use ofproceeds.
• Section 5-12-43 - Sale and lease-back arrangements--Contracts to acquire use or ownership authorized--Terms.
• Section 5-12-44 - Provisions applicable to contracts to acquire use or ownership.
• Section 5-12-45 - Revenue bonds to finance sale and lease-back arrangements--Lending proceeds--Refund or refinance of obligations.
• Section 5-12-46 - Legislative approval required for sale and lease-back arrangements.
• Section 5-12-47 - Revenue obligations--Issuance--Purpose--Funds for payment.
• Section 5-12-48 - Definition of terms.
• Section 5-12-48.1 - Authority may invest funds in certain permitted investments.
• Section 5-12-49 - Transfer and sale of state's right to tobacco settlement revenues--Disposition offunds--Written agreement--Filing of agreement.
• Section 5-12-50 - Establishment of special purpose corporation--Limitations--Board membership--Powers of corporation.
• Section 5-12-50.1 - Bond transactions to be public records subject to disclosure.
• Section 5-12-51 - Purposes of special purpose corporation.
• Section 5-12-52 - Corporation issued bonds not a lien, charge or liability against the state--Tobaccosettlement revenues as security for bonds prohibited.
• Section 5-12-53 - Pledge of non-interference by state to impair terms of bonds--Liability of state onbonds.
• Section 5-12-54 - Liability of authority and special purpose corporation.
• Section 5-12-55 - Special purpose corporation treated as public instrumentality of state--Income ofauthority and corporation not taxed--Obligations of corporation deemed publicsecurities.
• Section 5-12-56 - Employees of special purpose corporation.
• Section 5-12-57 - Establishment of permanent tobacco settlement development trust fund--Funds to bedeposited identified.
• Section 5-12-58 - Tobacco settlement residual fund established.
• Section 5-12-59 - Tobacco development interest fund established--State pledge to honor agreements ofauthority or corporation with regard to certain federal income tax exclusions.
• Section 5-12-60 - Legislative intended use of tobacco settlement funds.
• Section 5-12-61 - Authority may contract to manage payment or interest rate risk for bonds.