Sale and lease - back arrangements--Tax exemption

The governing body of a municipality may by ordinance exercise all the powers conferred on the South Dakota Building Authority and the Governor pursuant to and in the manner provided by §§ 5-12-15 , 5-12-19 , 5-12-42 to 5-12-45 , inclusive, with respect to the acquisition, lease, sale and lease - back of land, improvements and capital equipment for the municipality's auditorium or convention center and all related facilities, except that the proceeds of sale of any such facility are subject to §