46A-1-13.4. Authorization of Mni Wiconi rural system--Loans--Accrual of interest.
Pursuant to §§46A-1-11 to 46A-1-13, inclusive, construction of a two hundred sixty-three million two hundred forty-one thousand dollar ($263,241,000) Mni Wiconi Rural Water System as generally described in the report "Mni Wiconi Rural Water Supply Project Final Engineering Report" dated May 21, 1993, is hereby authorized for the purpose of providing safe and adequate municipal, rural, and industrial water supplies as well as promoting benefits to fish and wildlife and the natural environment of South Dakota on the Pine Ridge Indian Reservation, the Rosebud Indian Reservation, the Lower Brule Indian Reservation and in the counties of Stanley, Haakon, Lyman, Jones, Jackson, Mellette, and Pennington.
The Legislature finds that it is in the best interest of the Mni Wiconi Rural Water System to provide the nonfederal matching requirements as enumerated in P.L. 100-516 as amended on January 1, 1995, through the State Water Resources Management System revolving loan program. Therefore, all grants authorized for expenditure out of the South Dakota Water and Environment for the Mni Wiconi Rural Water System since January 1, 1989, shall convert to loans.
The Board of Water and Natural Resources may provide loans under the State Water Resources Management System revolving loan program in amounts not to exceed a total of twelve million nine hundred one thousand eight hundred dollars ($12,901,800) to the Mni Wiconi Rural Water System to provide the nonfederal matching requirements for the West River Rural Water System component and the Lyman-Jones Rural Water System component as enumerated in P.L. 100-516 as amended on January 1, 1995. No disbursements may be made under the loans authorized by this section unless funds are appropriated by the Legislature in conformance with §46A-1-61.
Notwithstanding the provisions of §46A-1-66 no interest may accrue until the Board of Water and Natural Resources certifies the completion of the construction of the project as authorized. The initial loan repayment shall be due and payable one year following the certification of construction completion. Loan terms and conditions shall be set by the Board of Water and Natural Resources.
The loans authorized by this section may be increased or decreased by such amounts as may be justified by reason of ordinary fluctuations in development costs incurred after October 1, 1992, as indicated by engineering costs indices applicable for the type of construction involved.
Source: SL 1992, ch 254, §13; SL 1995, ch 251, §28.
Structure South Dakota Codified Laws
Chapter 01 - State Water Resources Management
Section 46A-1-1 - Legislative findings and policy.
Section 46A-1-2 - Legislative purpose for state water plan--Composition of plan.
Section 46A-1-2.1 - Legislative finding--Preferred, priority objectives.
Section 46A-1-3 - Definition of terms.
Section 46A-1-4 - Water rights not affected by chapter.
Section 46A-1-8 - Resolution of conflicting interests.
Section 46A-1-13.4 - Authorization of Mni Wiconi rural system--Loans--Accrual of interest.
Section 46A-1-13.7 - Sioux Falls Flood Control Project authorized.
Section 46A-1-13.10 - Lewis and Clark Rural Water System authorized.
Section 46A-1-13.11 - Southern Black Hills Water System authorized.
Section 46A-1-13.12 - Belle Fourche irrigation upgrade project authorized.
Section 46A-1-14 - Annual report of activities of board--Contents.
Section 46A-1-15 - Consideration of wild, scenic, and recreational rivers.
Section 46A-1-19 - Interim financing--Proper authority required.
Section 46A-1-20 - Interim financing--Independent review of feasibility of project.
Section 46A-1-22 - Terms of interim notes.
Section 46A-1-23 - Security for interim notes.
Section 46A-1-24 - Additional covenants and conditions to secure interim notes.
Section 46A-1-25 - Registration of interim notes--Interest payment--Redemption prior to maturity.
Section 46A-1-26 - Execution and attestation of interim notes--Sale.
Section 46A-1-27 - Bond provisions applicable to interim financing.
Section 46A-1-28 - Payment of interim notes on issue of revenue bonds.
Section 46A-1-30 - Purposes for bond issuance.
Section 46A-1-32 - Terms of bonds.
Section 46A-1-33 - Pledge of revenues to secure payment of bonds.
Section 46A-1-33.1 - District may contract to manage payment or interest rate risk for bonds.
Section 46A-1-36 - Covenant to collect revenues sufficient for retirement of bonds.
Section 46A-1-37 - Covenant against alienation or encumbrance of projects while bonds outstanding.
Section 46A-1-38 - Covenants as to management of project and accounting for funds.
Section 46A-1-39 - Trust agreements.
Section 46A-1-40 - Additional covenants to secure bonds or make them more marketable.
Section 46A-1-41 - State general obligation not to be created.
Section 46A-1-42 - Bonds not a state obligation--Payment restricted to revenues.
Section 46A-1-43 - Recording not required for bond protection.
Section 46A-1-45 - Sale of bonds--Procedure and price.
Section 46A-1-46 - Negotiability of bonds.
Section 46A-1-47 - Bonds as legal investments for fiduciaries and financial institutions.
Section 46A-1-48 - Bond and note proceeds--Payment into state treasury not required.
Section 46A-1-49 - Financing agreements to lend bond proceeds--Board resolution.
Section 46A-1-51 - Financing agreements--Proper authority required.
Section 46A-1-52 - Financing agreements--Independent review of feasibility of project.
Section 46A-1-53 - Agreement as to custody and disposition of moneys.
Section 46A-1-54 - Remedies of bondholders.
Section 46A-1-55 - Persons executing district notes or bonds not subject to personal liability.
Section 46A-1-56 - Refunding bonds authorized for matured obligations.
Section 46A-1-58 - Refunding bonds authorized for unmatured obligations.
Section 46A-1-59 - Sale of refunding bonds for unmatured obligations--Use of proceeds.
Section 46A-1-60 - Water and environment fund--Establishment--Moneys in fund.
Section 46A-1-62 - Disbursements from capital projects fund.
Section 46A-1-63.1 - Consolidated water facilities construction program--Disbursements.
Section 46A-1-66 - Interest on loans.
Section 46A-1-68 - Loan terms set by Legislature.
Section 46A-1-68.1 - Deposit of money received from fund.
Section 46A-1-69 - Suspension of annual installment due on loan for irrigation project.
Section 46A-1-70 - Financial reporting of projects--Auditing.
Section 46A-1-72 - Pipeline or aqueduct construction authorized--Use of water.
Section 46A-1-73 - Financing of pipelines or aqueducts--Bonds--Loans.
Section 46A-1-81 - Amount of funds required for dredge maintenance and repair and other expenses.
Section 46A-1-82 - Environment and water resources trust fund established--Subfund.
Section 46A-1-83 - State solid waste management program established.
Section 46A-1-88 - Conversion of study loans to grants.
Section 46A-1-91 - Financial assistance for recycling and processing facilities for waste tires.
Section 46A-1-92 - Legislative findings and authorization of certain water development projects.
Section 46A-1-93 - Priority in administration of funds.
Section 46A-1-94 - Perkins County rural water system.
Section 46A-1-96 - Special purpose water district loan program established--Funding.
Section 46A-1-97 - Board authorized to contract for financial services.
Section 46A-1-100 - Definition of terms.
Section 46A-1-103 - Promulgation of rules by board--Content.
Section 46A-1-105 - Establishment of brownfields program by eligible entity.
Section 46A-1-106 - Powers of eligible entity establishing brownfields program.