Title 5 — PUBLIC PROPERTY, PURCHASES AND CONTRACTS
34 chapters · 628 sections in this title.
SDCL § 5-12-44 Provisions applicable to contracts to acquire use or ownership
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The provisions of §§ 5-12-13 to 5-12-18 , inclusive, apply to all land, improvements and capital equipment which the Building Authority may occupy or use pursuant to any contract described in §
SDCL § 5-12-45 Revenue bonds to finance sale and lease - back arrangements--Lending proceeds--Refund or refinance of obligations
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The Building Authority may provide, by resolution, for the issuance and sale of revenue bonds to finance all or any part of the capital cost of any land, buildings, or other improvements or equipment of a capital nature to be acquired by any person, partnership, association, limi…
SDCL § 5-12-46 Legislative approval required for sale and lease - back arrangements
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No sale or lease - back of any land or improvements as described in §§ 5-12-42 and 5-12-43 shall be initiated later than July 1, 1984, without prior legislative approval. Source: SL 1983, ch 32 , § 8.
SDCL § 5-12-47 Revenue obligations--Issuance--Purpose--Funds for payment
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The authority, with the approval of the Governor, may by resolution provide for the issuance and sale of revenue obligations to finance all or any part of the capital cost of acquiring, constructing, furnishing, equipping, or repairing any state building owned or to be owned by i…
SDCL § 5-12-47.1 Payment of lease rental obligations to South Dakota Building Authority by Bureau of Finance and Management
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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…
SDCL § 5-12-47.2 Irrevocable escrow agreement for defeasance and payment of lease revenue trust certificates and bonds--Arrangements to pay governmental expenses
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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…
SDCL § 5-12-48 Definition of terms
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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…
SDCL § 5-12-48.1 Authority may invest funds in certain permitted investments
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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.
SDCL § 5-12-49 Transfer and sale of state's right to tobacco settlement revenues--Disposition of funds--Written agreement--Filing of agreement
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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…
SDCL § 5-12-5 Employment of personnel
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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.
SDCL § 5-12-50 Establishment of special purpose corporation--Limitations--Board membership--Powers of corporation
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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 …
SDCL § 5-12-50.1 Bond transactions to be public records subject to disclosure
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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 §
SDCL § 5-12-51 Purposes of special purpose corporation
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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…
SDCL § 5-12-52 Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited
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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…
SDCL § 5-12-53 Pledge of non-interference by state to impair terms of bonds--Liability of state on bonds
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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…
SDCL § 5-12-54 Liability of authority and special purpose corporation
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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…
SDCL § 5-12-55 Special purpose corporation treated as public instrumentality of state--Income of authority and corporation not taxed--Obligations of corporation deemed public securities
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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…
SDCL § 5-12-56 Employees of special purpose corporation
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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. 5-12-57, 5-12-58. Repealed by SL …
SDCL § 5-12-59 State pledge to honor agreements of authority or corporation with regard to certain federal income tax exclusions
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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…
SDCL § 5-12-6 Common seal of authority
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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.
SDCL § 5-12-60 Repealed by SL 2013, ch 28 , § 8
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5-12-61 Authority may contract to manage payment or interest rate risk for bonds.
SDCL § 5-12-61 Authority may contract to manage payment or interest rate risk for bonds
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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…
SDCL § 5-12-7 Purposes of authority
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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 …
SDCL § 5-12-8 Studies and investigations of land needs
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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…
SDCL § 5-12-8.1 SDCL 5-12-8.1
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Additional powers with respect to projects under §
SDCL § 5-12-9 Repealed by SL 1988, ch 51 , § 3
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5-12-10 Transfer of state property to authority. 5-12-11 Power of authority to acquire property--Methods of acquisition. 5-12-11.1 Standards and specifications to accommodate persons with disabilities. 5-12-12 Plans and specifications for projects to be undertaken. 5-12-13 Lease …