6-13-9. Sale of real property under installment contract.
The governing board may sell any real property with a purchase price in excess of two hundred fifty dollars under an installment contract. The property may not be sold for less than ninety percent of the appraised value. Before the governing board may sell any real property under an installment contract it shall attempt to sell such property pursuant to §6-13-5 or 6-13-6. The governing board shall determine the terms and conditions of the installment contract including the number of installments, the date of payment and the rate of interest. The purchaser may, at his option, pay the balance or any number of installments on any interest paying date.
Source: SL 1989, ch 62, §1.
Structure South Dakota Codified Laws
Title 6 - Local Government Generally
Chapter 13 - Disposal of Surplus Government Property
Section 6-13-1 - Disposition of surplus property.
Section 6-13-2 - Appraisal of value of surplus property--Filing of report.
Section 6-13-3 - Improvements appraised separately--Equipment and property not appraised.
Section 6-13-4 - Notice by publication of sale of surplus property--Exceptions.
Section 6-13-5 - Receipt of sealed bids--Sale to highest bidder--Absence of bids--Private sale.
Section 6-13-5.1 - Sale of property conveyed by a railroad.
Section 6-13-5.2 - Sale of government property at public auction or through broker--Offers--Notice.
Section 6-13-6 - Sale by auction--Notice by publication.
Section 6-13-7 - Persons prohibited from purchasing surplus property--Exception.
Section 6-13-8 - Deposit and credit of sale revenue.
Section 6-13-9 - Sale of real property under installment contract.
Section 6-13-10 - Acceptance of bid for installment contract.
Section 6-13-11 - Board approval of installment contract sales.
Section 6-13-12 - Full purchase price paid in cash--Execution of deed.
Section 6-13-13 - Less than full amount of purchase price in cash--Execution of contract for deed.
Section 6-13-14 - Transfer, license, or sale of computer software--Notice to board.