South Dakota Codified Laws
Chapter 12 - South Dakota Building Authority
Section 5-12-25 - .Restrictions on obligation stated on face of bonds.

South Dakota Codified Laws

Title 5 - Public Property, Purchases and Contracts

Chapter 12 - South Dakota Building Authority

Section 5-12-1 - .Authority created--Composition--Initial terms--Political affiliation--Chairman.

Section 5-12-1.1 - .Authority continued within Bureau of Finance and Management--Records and reports.

Section 5-12-1.2 - .Meaning of United States Department of Agriculture Conservation Reserve Program.

Section 5-12-2 - .Terms of members--Vacancies--Quorum.

Section 5-12-3 - .Oath and bond of members.

Section 5-12-4 - .Members receive no compensation--Reimbursement of expenses.

Section 5-12-5 - .Employment of personnel.

Section 5-12-6 - .Common seal of authority.

Section 5-12-7 - .Purposes of authority.

Section 5-12-8 - .Studies and investigations of land needs.

Section 5-12-8.1 - .Additional powers with respect to projects under §5-12-8.

Section 5-12-10 - .Transfer of state property to authority.

Section 5-12-11 - .Power of authority to acquire property--Methods of acquisition.

Section 5-12-11.1 - .Standards and specifications to accommodate persons with disabilities.

Section 5-12-12 - .Plans and specifications for projects to be undertaken.

Section 5-12-13 - .Lease of facilities and sites to state agencies authorized--Commencement of payments under lease.

Section 5-12-14 - .Terms, conditions, and rental under leases--Annual extension provision.

Section 5-12-15 - .Lessee's option to purchase--Conveyance on exercise of option.

Section 5-12-16 - .Taxes and insurance added to rental properties--Authorization to self-insure.

Section 5-12-17 - .Authority's power to use facilities for other purposes on nonpayment of rent--Appropriations and funds from which rent payable.

Section 5-12-18 - .Costs and reserves to be covered by rent and charges.

Section 5-12-19 - .Tax exemption of property owned or leased by authority--Exception.

Section 5-12-20 - .Resolutions for revenue bonds authorized--Purpose--Legislative approval required.

Section 5-12-21 - .Purposes for which bonds issued--Refunding and refinancing--Pledge of income.

Section 5-12-22 - .Terms and interest rate of bonds.

Section 5-12-23 - .Revenues and income from which bonds payable--Use of educational facilities fund--Disposition of revenues.

Section 5-12-24 - .Execution and registration of bonds--Validity of signature by officers.

Section 5-12-25 - .Restrictions on obligation stated on face of bonds.

Section 5-12-26 - .Creation of state obligation not authorized.

Section 5-12-27 - .Contract with bondholders--Bondholders' remedies.

Section 5-12-27.1 - .Refunding bonds authorized--Purposes.

Section 5-12-27.2 - .Amount of refunding bonds.

Section 5-12-27.3 - .Exchange or sale of refunding bonds--Proceeds of sale--Cancellation of bonds and coupons--Evidence of discharge of interest obligation.

Section 5-12-27.4 - .Exchange or sale of bonds--Disposition of proceeds of sale.

Section 5-12-27.5 - .Assistance in conserving and improving soil and water resources of highly erodible cropland by means of loans--Revenue bonds and interim notes authorized.

Section 5-12-27.6 - .No indebtedness to be charged against state.

Section 5-12-27.7 - .Acceptance and expenditure of gifts, contributions, etc., authorized.

Section 5-12-27.8 - .Lease and sublease agreements with South Dakota Building Authority authorized to support purpose and payment of revenue bonds or interim notes.

Section 5-12-28 - .Interim notes authorized--Purposes of borrowing.

Section 5-12-29 - .Resolution for issuance of interim notes--Interest rate--Maturity date.

Section 5-12-30 - .Terms and registration of interim notes--Redemption prior to maturity--Execution of notes--Pledge of income and revenue.

Section 5-12-31 - .Additional provisions to secure payment of interim notes.

Section 5-12-32 - .Debt limitations not applicable to interim notes--Personal liability not created by execution of notes.

Section 5-12-33 - .Payment of interim notes or purchase of government obligations with proceeds from sale of revenue bonds.

Section 5-12-34 - .Disposition of income under chapter--Public building fund.

Section 5-12-35 - .Accounts maintained by authority--Purpose of disbursements from public building fund.

Section 5-12-36 - .Authority to convey property to state when debt paid or payment provided for--Reversion to authority.

Section 5-12-37 - .Record of rental payments under lease--Conveyance to lessee after amortization of debt.

Section 5-12-38 - .Annual audit.

Section 5-12-38.1 - .Informational budget required.

Section 5-12-39 - .Contractual power of authority.

Section 5-12-40 - .Bylaws, rules, and regulations of authority.

Section 5-12-41 - .Severability of provisions.

Section 5-12-42 - .Sale and lease-back arrangements--Sales and land leases authorized--Use of proceeds.

Section 5-12-43 - .Sale and lease-back arrangements--Contracts to acquire use or ownership authorized--Terms.

Section 5-12-44 - .Provisions applicable to contracts to acquire use or ownership.

Section 5-12-45 - .Revenue bonds to finance sale and lease-back arrangements--Lending proceeds--Refund or refinance of obligations.

Section 5-12-46 - .Legislative approval required for sale and lease-back arrangements.

Section 5-12-47 - .Revenue obligations--Issuance--Purpose--Funds for payment.

Section 5-12-47.1 - .Payment of lease rental obligations to South Dakota Building Authority by Bureau of Finance and Management.

Section 5-12-47.2 - .Irrevocable escrow agreement for defeasance and payment of lease revenue trust certificates and bonds--Arrangements to pay governmental expenses.

Section 5-12-48 - .Definition of terms.

Section 5-12-48.1 - .Authority may invest funds in certain permitted investments.

Section 5-12-49 - .Transfer and sale of state's right to tobacco settlement revenues--Disposition of funds--Written agreement--Filing of agreement.

Section 5-12-50 - .Establishment of special purpose corporation--Limitations--Board membership--Powers of corporation.

Section 5-12-50.1 - .Bond transactions to be public records subject to disclosure.

Section 5-12-51 - .Purposes of special purpose corporation.

Section 5-12-52 - .Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.

Section 5-12-53 - .Pledge of non-interference by state to impair terms of bonds--Liability of state on bonds.

Section 5-12-54 - .Liability of authority and special purpose corporation.

Section 5-12-55 - .Special purpose corporation treated as public instrumentality of state--Income of authority and corporation not taxed--Obligations of corporation deemed public securities.

Section 5-12-56 - .Employees of special purpose corporation.

Section 5-12-59 - .State pledge to honor agreements of authority or corporation with regard to certain federal income tax exclusions.

Section 5-12-61 - .Authority may contract to manage payment or interest rate risk for bonds.