5-2-2.3. Use of proceeds and interest from sale.
Except for the proceeds from the sale of endowment lands, the net proceeds, and accumulated interest from sale of land under the Board of Regents pursuant to §5-2-2.1 shall be used by the Board of Regents for acquisition of real and personal property or capital improvements subject to the approval of the Legislature. For purposes of this section, the definition of capital improvement contained in §5-14-1 applies.
Source: SL 1976, ch 7, §2; SL 1989, ch 20, §54; SL 1989, ch 49, §2; SL 1990, ch 30, §19; SL 2011, ch 29, §7; SL 2011, ch 30, §6; SL 2018, ch 111, §8, eff. Feb. 8, 2018.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Chapter 02 - State-Owned Lands In General
Section 5-2-1 - Acquisition of options for additional lands for institutions.
Section 5-2-2.3 - Use of proceeds and interest from sale.
Section 5-2-2.4 - Lease of land by executive branch--Period of lease--Renewal--Amount.
Section 5-2-4 - State ownership of lake and river beds declared--Riparian owners protected.
Section 5-2-6 - Proceeds of sand and gravel contracts--Payment--Deposit.
Section 5-2-7 - Rules and conditions governing sand and gravel contracts.
Section 5-2-8 - Unauthorized taking of materials from lake or river beds as misdemeanor.
Section 5-2-9 - Enforcement of state's right to materials from lake and river beds.
Section 5-2-11.2 - Recording of affidavit.
Section 5-2-11.3 - Previously recorded affidavits validated.
Section 5-2-12 - Mineral reservation in leases and conveyances of state land.
Section 5-2-17 - Land sales within federal irrigation projects to conform to federal limitations.
Section 5-2-19 - Review process of property given to state.
Section 5-2-20 - Transfer of state's interest in Camp Lakodia to 4-H Foundation.