46A-2-16. Leverage lease agreements by board--District as lender and lessee--Sublease of equipment.
The Board of Water and Natural Resources may become a party to a leverage lease agreement whereby the district loans up to eighty percent of the cost of construction and equipment for a water development project sponsored by or built for a political subdivision of the State of South Dakota to a person or persons who agrees to own in fee simple such works and equipment and lease them back to the district or political subdivision. The district may be both lender and lessee on such leverage lease, and, in the event it is lessee, it may sublease such works and equipment.
Source: SL 1977, ch 369, §1; SDCL Supp, §46-17-17.1.
Structure South Dakota Codified Laws
Chapter 02 - South Dakota Conservancy District
Section 46A-2-1 - Creation of South Dakota Conservancy District--Boundaries--Powers.
Section 46A-2-2 - Purposes for which district created.
Section 46A-2-4 - Definition of terms.
Section 46A-2-5 - Board of directors abolished--Performance of functions.
Section 46A-2-6 - Offices of district.
Section 46A-2-7 - Quorum of board--Actions on notes or bonds.
Section 46A-2-8 - Rules--Delegation of authority by board.
Section 46A-2-11 - Board may sue and be sued.
Section 46A-2-12 - Legal adviser of board--Cooperation of state agencies at request of board.
Section 46A-2-13 - Coordination of water resources project activities.
Section 46A-2-17 - Eminent domain--Exercise of power by board.
Section 46A-2-21 - Interim financing--Eminent domain power--Limitation.
Section 46A-2-24 - Cooperation with other agencies in development of water resources projects.
Section 46A-2-25 - Acceptance of assistance to aid and promote water resources projects.
Section 46A-2-28 - Federal contracts for multi-purpose projects--Mandatory contract terms.
Section 46A-2-29 - Federal contracts for multi-purpose projects--Approval of contract provisions.
Section 46A-2-30 - Federal loans contracted by district.
Section 46A-2-34 - Generation and sale of hydroelectric power authorized.
Section 46A-2-35 - Appropriations to accomplish duties of district--Request to state Legislature.
Section 46A-2-36 - Powers granted to district and water development districts--Construction.