46A-1-29. Plan for project financing to be submitted to Legislature--Authorization for bond issuance--Amount of bonds.
Upon presentation of a request to authorize the construction of a water facility of the state water resources management system by the Board of Water and Natural Resources in accordance with §46A-1-11, the board shall provide a plan for financing the construction of the project to the Legislature, including, in the case of a project to be financed under §46A-1-49, a general description of the anticipated financing agreement with the participating persons or public entities. If the board deems it necessary to request authorization for the issuance of bonds by the district, the Legislature shall determine whether such authorization shall be given in the same act as it authorizes the inclusion of construction of the project as part of the state water resources management system. If the Legislature authorizes the issuance of bonds for the construction of the facilities, it shall specify the amount of bonds that may be issued by the district for construction of the project, including any amount of bonds issued to fund a debt service reserve for the bonds or for capitalized interest during construction of the project. Pursuant to authorization by the Legislature, the district may issue bonds to acquire or construct or arrange for construction of, or to enter into a financing agreement with persons or public entities for, any one project, or more than one, or to refund bonds heretofore or hereafter issued for each project or facility or to fund a debt service reserve for the bonds or for capitalized interest during construction of the project and to provide for the security and payment of the bonds and for the rights of the holders of the bonds. The board may issue bonds in the amount of up to thirty percent greater than the specific amount authorized by the Legislature for financing any specific project if increases in construction costs, changes in engineering designs, or minor changes in the area or number of persons served by a project require such an increase to complete the project, and if the amount of funds obtained from the district through its bonding power does not exceed the authorization of the Legislature by more than thirty percent for any specific project.
Source: SL 1972, ch 241, §24; SL 1977, ch 377, §1; SL 1980, ch 310, §6; SDCL Supp, §46-17A-30; SL 2011, ch 165, §293.
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.