Section 5-14-22 - Sale or lease of real property for public purpose or industrial development--Use bygrantee--Authorization of lease--Legislature to approve sales. - South Dakota Statutes

5-14-22. Sale or lease of real property for public purpose or industrial development--Use by grantee--Authorization of lease--Legislature to approve sales. The state shall have power to lease or sell on a negotiated basis and to convey any of its real property to a municipality or county, or to a nonprofit local industrial development corporation as defined by § 5-14-23 and located therein, to be used by such grantee for an authorized public purpose or industrial development purpose as enumerated in § 9-54-1. Such lease shall be authorized on the terms and in the manner provided by the Legislature. Every sale shall be subject to approval by an act of the Legislature.

Source: SL 1976, ch 63, § 1; SL 1977, ch 48, § 1.