Title 5, PUBLIC PROPERTY, PURCHASES AND CONTRACTS

The funds appropriated in SL 2014, ch 35, § 1 shall be used to pay or prepay lease rental and associated fees in the amounts specified below to the South Dakota Building Authority relating to the leases between the South Dakota Building Authority and the departments or offices an…

The South Dakota Building Authority may enter into an irrevocable escrow agreement to provide for the defeasance and payment of the series 1993A lease revenue trust certificates, the series 2005B bonds and the series 2008 bonds issued to finance the costs of the buildings and oth…

Terms used in §§ 5-12-48 to 5-12-61 , inclusive, mean: (1) "Authority," the South Dakota Building Authority, a body corporate and politic, organized and existing under chapter 5-12 ; (2) "Bonds," bonds, bond anticipation notes, notes, certificates of ownership or indebtedness, or…

In addition to all other powers established pursuant to chapter 5-12 , the building authority may invest its funds or the funds under its control or direction in permitted investments as defined in subdivision 5-12-48(10). Source: SL 2002, ch 31 , § 1.

At any one time or from time to time, all or any portion of the right, title, and interest of the State of South Dakota in, to, and under the master settlement agreement, including the right to receive and collect tobacco settlement revenues, may be sold, conveyed, or otherwise t…

The Building Authority shall possess the power to employ agents and employees necessary to carry out the duties and purposes of the authority. Source: SL 1967, ch 276 , § 5.

The authority may establish by resolution a special purpose corporation which shall be body corporate and politic and instrumentality of, but having a legal existence independent and separate from, the State of South Dakota and the authority. The corporation shall be established …

The particulars of any bond transactions made pursuant to §§ 5-12-48.1 , 5-12-50 , and 5-12-50.1 , inclusive, including legal fees and the costs of underwriting the bonds, shall be of public record subject to disclosure pursuant to § 1-27-1 . Source: SL 2002, ch 31 , § 3.

The purposes of the corporation established by the authority pursuant to §§ 5-12-48 to 5-12-61 , inclusive, are: (1) To purchase, acquire, own, pledge, encumber, or otherwise transfer all right, title, and interest of the state in, to, and under the master settlement agreement, i…

No bond of the corporation issued, incurred, or created under §§ 5-12-48 to 5-12-61 , inclusive, may be or become a lien, charge, or liability against the State of South Dakota or the authority, nor against the property or funds of the State of South Dakota or the authority withi…

The State of South Dakota pledges to and agrees with the holders of bonds issued, incurred, or created under §§ 5-12-48 to 5-12-59 , inclusive, that the state will not limit or alter the rights and powers vested in the corporation and the authority by §§ 5-12-48 to 5-12-59 , incl…

The authority is not liable for any bond issued, incurred, or created by the corporation under §§ 5-12-48 to 5-12-59 , inclusive, or for any act or failure to act of the corporation. The corporation may not be liable for any obligation of the South Dakota Building Authority or fo…

The corporation is hereby declared to be performing a public function on behalf of the state and to be a public instrumentality of the state. The income of the authority and the corporation, and all properties at any time owned by the authority and the corporation, are exempt fro…

The corporation may employ attorneys, accountants, tobacco industry consultants, and financial experts, managers, and such other employees and agents as may be necessary in its judgment and to fix their compensation. Source: SL 2001, ch 27 , § 9.

If in order to obtain or preserve any exclusion of interest on bonds from gross income of the holders thereof for purposes of federal income taxation, the corporation or authority enters into any agreement or covenant with the holders of bonds (or the trustee or other fiduciary a…

The Building Authority shall have the power to have and use a common seal and alter the same at pleasure. Source: SL 1967, ch 276 , § 5.

The authority may enter into any contract that the authority determines necessary or appropriate to manage payment or interest rate risk for bonds issued pursuant to this chapter, the investment of proceeds, or other funds of the authority. The contracts may include: interest rat…

The purposes of this authority are: (1) To build and otherwise provide hospital, housing, correctional facilities, administrative, classroom, dining halls, fieldhouses, parking facilities, union buildings, library, recreational, laboratory, office, and similar facilities for use …

The authority may make thorough and continuous studies and investigations of land located within the State of South Dakota that is highly - erodible cropland and which is subject to a contract with the United States secretary of agriculture pursuant to the United States Conservat…

In addition to any other powers granted to the authority pursuant to this chapter, with respect to projects of the kind listed in § 5-12-8 , the authority may: (1) Make and execute contracts and all other instruments necessary or convenient for the performance of its duties and t…