South Dakota Codified Laws
Chapter 11 - South Dakota Housing Development Authority
Section 11-11-38 - Annual informational budget required--Inclusion in Governor's budget report.

11-11-38. Annual informational budget required--Inclusion in Governor's budget report.
In addition to the reporting requirements imposed by §11-11-181, the authority shall annually submit an informational budget to the Governor through the Bureau of Finance and Management in accordance with §4-7-7.2. The informational budget submitted by the authority shall be submitted to the Legislature by the Governor in the budget report required by §4-7-9.

Source: SL 1978, ch 213, §1; SDCL Supp, §28-19-34.1.

Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 11 - Planning, Zoning and Housing Programs

Chapter 11 - South Dakota Housing Development Authority

Section 11-11-1 - Legislative findings.

Section 11-11-2 - Declaration of necessity for development authority.

Section 11-11-3 - Powers necessary for development authority.

Section 11-11-4 - Declaration of public purposes and public interest.

Section 11-11-5 - Definition of terms.

Section 11-11-6 - Developments and projects subject to chapter.

Section 11-11-7 - Sponsors eligible under chapter.

Section 11-11-9 - Costs covered by chapter.

Section 11-11-10 - Development authority established--Administrator of federal housing program.

Section 11-11-11 - Reporting to Governor's Office of Economic Development.

Section 11-11-12 - Appointment of commissioners--Political affiliations.

Section 11-11-13 - State officers and employees eligible as commissioners.

Section 11-11-14 - Corporate officers and employees eligible as commissioners--Abstention on conflict of interests.

Section 11-11-15 - Terms of office of commissioners--Vacancy--Restrictions on reappointment.

Section 11-11-16 - Surety bonds of commissioners and executive director--Blanket bond--Payment of cost.

Section 11-11-17 - Removal of commissioner from office.

Section 11-11-18 - Officers of commissioners.

Section 11-11-19 - Meetings of commissioners--Quorum--Majority required for action.

Section 11-11-20 - Compensation of commissioners.

Section 11-11-21 - Executive director--Appointment and duties--Other personnel.

Section 11-11-22 - Salaries.

Section 11-11-23 - Benefits of state employees provided.

Section 11-11-24 - Records maintained by secretary--Certified copies--Publication of resolutions.

Section 11-11-25 - Powers of local commissions conferred upon authority--Approval by local governing body required--Cooperation with local commissions.

Section 11-11-26 - Power to carry out chapter.

Section 11-11-27 - Power to sue and be sued--Seal--Perpetual succession--Office.

Section 11-11-28 - Consolidation of processing for developments and projects.

Section 11-11-29 - Policy favoring private business firms.

Section 11-11-30 - Bylaws, rules, and regulations.

Section 11-11-31 - Research and development.

Section 11-11-33 - Advice and technical assistance to developments, projects and residents.

Section 11-11-34 - Cooperation with federal and other governmental agencies.

Section 11-11-36 - Execution of necessary instruments.

Section 11-11-37 - Acceptance of legislative appropriations--Purposes to which applied.

Section 11-11-38 - Annual informational budget required--Inclusion in Governor's budget report.

Section 11-11-39 - Acceptance of grants and contributions--Purposes to which applied.

Section 11-11-40 - Residual powers of authority.

Section 11-11-41 - Power to borrow and issue evidence of indebtedness.

Section 11-11-42 - Financing, reserves, and incidental costs included in amounts borrowed.

Section 11-11-43 - Issuance of notes and bonds--Purposes for which used.

Section 11-11-45 - Qualified private activity bonds--Maximum aggregate principal amount.

Section 11-11-47 - Authority as state issuing agency and housing credit agency.

Section 11-11-48 - Compliance with federal conditions for qualified mortgage bonds.

Section 11-11-49 - Public debt not created by authority obligations--Statement on face of obligations.

Section 11-11-50 - Refunding of notes and bonds.

Section 11-11-51 - Consent of other public agencies not required for bonds or notes--Procedural requirements of other laws not applicable.

Section 11-11-52 - Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.

Section 11-11-53 - Notes and bonds as general obligations of authority--Exception.

Section 11-11-54 - Bond resolution provisions--Contracts with bondholders.

Section 11-11-65 - Trust indenture to secure bonds--Contents--Expenses of trust indenture--Separate trustee not authorized.

Section 11-11-66 - Pledge binding when made--Attachment of lien.

Section 11-11-67 - Continuing validity of signatures by commissioners or officers.

Section 11-11-69 - Purpose of capital reserve fund requirements.

Section 11-11-70 - Establishment of capital reserve funds--Moneys paid into funds.

Section 11-11-71 - Amount required in capital reserve fund for each year.

Section 11-11-72 - Valuation of securities held by capital reserve funds.

Section 11-11-73 - Transfer to other funds of capital reserve fund income.

Section 11-11-74 - Purposes to which moneys in reserve funds applied--Maintenance of required amount.

Section 11-11-75 - Deposit in reserve fund of bond proceeds necessary to maintain required amount.

Section 11-11-76 - Annual budget estimate for restoration of capital reserve fund--Governor's budget--Deposit of appropriated funds.

Section 11-11-77 - Other funds created by authority.

Section 11-11-78 - Purchase of authority's own bonds--Cancellation--Resale.

Section 11-11-79 - Price of bonds repurchased for cancellation.

Section 11-11-80 - Refunding obligations authorized--Application of provisions applicable to original obligations.

Section 11-11-81 - Sale or exchange of refunding obligations--Investment of proceeds pending redemption of original obligations.

Section 11-11-82 - Compliance with certain other state laws not required.

Section 11-11-83 - Appointment of trustee by bondholders after authority default.

Section 11-11-84 - Enforcement of bondholders' rights.

Section 11-11-91 - Circuit court jurisdiction of proceedings by trustee.

Section 11-11-93 - State pledge to bondholders.

Section 11-11-94 - Commissioners and executive director not personally liable.

Section 11-11-95 - Negotiability of bonds.

Section 11-11-96 - Securities regulation--Bonds treated as securities of state instrumentality.

Section 11-11-97 - Bonds as legal investments for financial institutions and fiduciaries.

Section 11-11-97.1 - Authority may contract to manage payment or interest rate risk for bonds.

Section 11-11-98 - Investment of authority funds.

Section 11-11-100 - Acquisition and disposition of property.

Section 11-11-101 - Exemption of authority from taxes, recording fees and transfer taxes.

Section 11-11-102 - Contracts--Mortgage loans--Foreclosure.

Section 11-11-114 - Confidentiality of applications and financial information.

Section 11-11-115 - Applications--Signatures and certification required--Perjury.

Section 11-11-117 - Construction to be substantially completed, or final insurance or guarantee certificate issued before loan disbursed.

Section 11-11-118 - Additional lending powers of authority.

Section 11-11-119 - Purchase of mortgages from mortgage lenders.

Section 11-11-120 - Purchase of securities from mortgage lenders.

Section 11-11-122 - Loans to mortgage lenders for new residential mortgages.

Section 11-11-123 - Requirements for transactions with mortgage lenders.

Section 11-11-124 - Eligibility of obligations purchased from mortgage lenders for purchase or purchase commitment--Criteria.

Section 11-11-134 - Purchase of federally insured housing mortgages.

Section 11-11-135 - Sale or transfer of mortgage loan or obligation.

Section 11-11-137 - Court actions to enforce loans or protect the public interest--Foreclosure.

Section 11-11-138 - Receiver appointed to safeguard authority's loan.

Section 11-11-139 - Reorganization of housing sponsor subject to control by authority.

Section 11-11-140 - Notice to authority before sale of real property on judgment against housing sponsor--Protective steps taken by authority.

Section 11-11-141 - Promulgation of rules regarding borrowers, admission of occupants, and ancillary commercial facilities.

Section 11-11-144 - Provisions governing loans and other financing to sponsors of multifamily units and day-care facilities.

Section 11-11-148 - Loans restricted to sponsors meeting statutory definition.

Section 11-11-149 - Amount and amortization period of FHA loans.

Section 11-11-150 - Amount and amortization of non-FHA loans.

Section 11-11-151 - Terms and form of loans or other financing--Investment in multifamily residential housing projects and day-care facilities.

Section 11-11-152 - Interest rates on which loans made--Additional charges.

Section 11-11-155 - Surety bonds and other assurances of payment and performance.

Section 11-11-161 - Conditions of mortgage loan or other financing.

Section 11-11-163 - Supervision of multifamily residential housing units and day-care facilities.

Section 11-11-179 - Retirement and redemption of investments in sponsor of multifamily units and day-care facilities.

Section 11-11-180 - General power to make rules and regulations.

Section 11-11-181 - Annual report by authority to Governor and Legislature.

Section 11-11-182 - Annual audit of authority.

Section 11-11-183 - Chapter cumulative and supplemental to other laws.

Section 11-11-184 - Chapter controlling over other laws.

Section 11-11-185 - Citation of chapter.