5-29-5.Lands subject to school and public lands trust.
If any lands used for purposes of a research park are determined to be subject to the school and public lands trust established pursuant to S. D. Const., Art. VIII, §7, then:
(1)A civil, state, religious, or public organization seeking to develop and to operate a research park may make application to the commissioner of school and public lands for conveyance pursuant to §5-9-34. If the Board of Regents agrees to transfer possession of the land, the commissioner may convey defeasible title as provided in §5-9-35 for the purpose of operating a research park. Upon any reversion, the land shall once again be placed under the control of the Board of Regents as part of the campus from which it was originally severed; or
(2)The Board of Regents may select other lands under its control of equal value, as determined by the commissioner of school and public lands, and exchange such other lands for those comprising the research park in order to maintain the principal of the school and public lands trust.
Source: SL 2012, ch 46, §5.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Section 5-29-1 - Legislative findings.
Section 5-29-3 - Research parks on state lands.
Section 5-29-4 - Accommodation of all kinds of facilities.
Section 5-29-5 - Lands subject to school and public lands trust.
Section 5-29-6 - Mineral rights.
Section 5-29-7 - Geothermal resources.
Section 5-29-8 - Structures and mineral leases may not disturb use of research park.
Section 5-29-9 - Authorized agreements.
Section 5-29-10 - Construction of agreements to permit only authorized uses.
Section 5-29-11 - Security for financing.
Section 5-29-12 - Lease period limit.
Section 5-29-13 - Commercially reasonable performance required--Enforcement and termination.
Section 5-29-14 - Title to improvements upon termination.
Section 5-29-15 - State not liable for research park debts.
Section 5-29-16 - Formation of research park corporations.
Section 5-29-17 - Board of directors appointed by Board of Regents.
Section 5-29-18 - Net earnings of research park corporation.
Section 5-29-19 - Research park corporation not a public body.
Section 5-29-21 - Research park corporation to have powers of nonprofit corporation.