Title 5, PUBLIC PROPERTY, PURCHASES AND CONTRACTS

The Building Authority may acquire by purchase, condemnation (including the power of condemnation in accordance with chapter 21-35 ), gift or otherwise, construct, complete, remodel, maintain, and equip buildings and other facilities as the Legislature by law declares to be in th…

The standards and specifications set forth in § 5-14-13 shall be adhered to by the Bureau of Human Resources and Administration during the construction phase and by the appropriate state agency thereafter in those buildings and facilities constructed by the South Dakota Building …

The Board of Regents and the Bureau of Human Resources and Administration on behalf of the executive branch or other agency of state government shall prepare plans and specifications for, and have supervision over, any project to be undertaken by the Building Authority for their …

The Building Authority may execute leases of facilities and sites to, and charge for the use of any such facilities and sites by the Board of Regents, any officer, department, board, commission, or other agency of the State of South Dakota, or the commissioner of human resources …

Leases may be (1) Upon such terms, conditions, and rentals, subject to available appropriations, as in the judgment of the building authority are in the public interest, or (2) For a term of one year from the time the building is completed and ready for occupancy, with an option …

The lease may provide that the lessee may, at the expiration of the original or any extended term, purchase the leased premises at a stated price, which shall be the balance of the total cost of the erection of the building and appurtenances not amortized by the payments of rents…

The lease may provide that the lessee shall, as additional rent for the leased premises, pay, or provide for the payment of, all taxes assessed against the leased premises if any, and the cost of insuring the building erected thereon against loss or damage by fire and windstorm i…

The Building Authority may, in the event of nonpayment of rents reserved in such leases, maintain and operate such facilities and sites or execute leases thereof to others for any suitable purposes. Such leases to the officers, departments, boards, commissions, other agencies, or…

The charges, fees, or rentals established by the Building Authority for the use of any facilities acquired, constructed, completed, remodeled, or equipped in whole or in part with the proceeds of the bonds issued as provided in this chapter shall be sufficient at all times to pay…

Except as hereinafter provided, all land, improvements, and capital equipment owned by the Building Authority, or being leased or acquired by the authority pursuant to a lease having a fixed term plus renewal options exceeding three years, or a lease - purchase or installment pur…

All appointments to the South Dakota Building Authority shall be made for a four - year term. Each member's term of office shall expire on the appropriate third Monday in January, but he shall continue to hold office until his successor is appointed and qualified. Any vacancy in …

The Building Authority may provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or any part of the cost of one or a combination of projects. However, no project may be let for construction, nor any revenue bonds be sold to raise the fun…

To accomplish projects of the kind authorized in this chapter, the Building Authority may borrow money and issue and sell bonds in such amount or amounts as the authority may determine for the purpose of acquiring, constructing, completing, or remodeling, maintaining or equipping…

All such bonds shall mature within twenty - five years from date and shall bear interest at a rate to be negotiated and may be sold by the Building Authority in such manner as it may deem to be in the best public interest. Source: SL 1967, ch 276 , § 6; SL 1970, ch 39 ; SL 1980, …

Such bonds shall be payable solely and only from: (1) Revenues to be derived by the building authority from the operation of any such facilities acquired, constructed, completed, remodeled or equipped in whole or in part with the proceeds of the bonds; (2) Income to be derived fr…

Such bonds shall be executed by such officers of the Building Authority as shall be designated by the authority, and shall be registered by the state auditor of the State of South Dakota. Any bonds bearing the signature of officers in office at the date of signing thereof shall b…

Each such bond shall state upon its face that it is payable solely from revenues derived by the Building Authority from the operation of facilities acquired, constructed, completed, remodeled, or equipped in whole or in part with the proceeds of the sale of such bonds, including …

Nothing in this chapter shall be construed to authorize the Building Authority or any department, board, commission, or other agency to create an obligation of the State of South Dakota within the meaning of the Constitution or statutes of South Dakota. Source: SL 1967, ch 276 , …

The provisions of this chapter and of any resolution or proceeding authorizing the issuance of bonds shall constitute a contract with the holders of such bonds. The provisions thereof shall be enforceable either in law or in equity, by suit, action, mandamus, or other proceeding …

The Building Authority may issue negotiable refunding bonds to refund: (1) Unpaid matured bonds; (2) Unpaid matured coupons evidencing interest upon its unpaid matured bonds; and (3) Interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of …

The Building Authority may issue negotiable refunding bonds under §§ 5-12-27.1 to 5-12-27.4 , inclusive, to refund bonds at or prior to their maturity or which by their terms are subject to redemption before maturity, or both, in an amount necessary to refund: (1) The principal a…

Refunding bonds issued pursuant to §§ 5-12-27.1 to 5-12-27.4 , inclusive, may be exchanged for the bonds to be refunded on a par for par basis of the bonds, interest coupons and interest not represented by coupons, if any, or may be sold at not less than par, or may be exchanged …

Refunding bonds issued pursuant to §§ 5-12-27.1 to 5-12-27.4 , inclusive, may be exchanged for not less than an equal principal amount of bonds to be refunded or may be sold at not less than par, or may be exchanged in part and sold in part. All proceeds received at the sale ther…

It being declared to be in the public interest, the South Dakota Building Authority may, pursuant to chapter 5-12 , finance loans to participants in a program of the United States to assist owners and operators of highly - erodible cropland in conserving and improving the soil an…

No indebtedness, bond, or obligation incurred or created under authority of §§ 5-12-27.5 to 5-12-27.8 , inclusive, may be or become a lien, charge or liability against the State of South Dakota, nor against the property or funds of the State of South Dakota within the meaning of …

The Building Authority and the State of South Dakota through any of its departments, agencies, or bureaus, may accept and expend for the purposes stated in § 5-12-27.5 , any funds obtained for such purposes from gifts, contributions, or other sources, including any unit of govern…

The State of South Dakota through any of its departments, agencies, or bureaus, may make and enter into lease and sublease agreements with the South Dakota Building Authority and make rental payments under the terms thereof, pursuant to chapter 5-12 , from appropriations to be ma…

In addition to the permanent financing authorized by §§ 5-12-20 to 5-12-27 , inclusive, the South Dakota Building Authority may borrow money and issue interim notes in evidence thereof for any of the projects, or to perform any of the duties authorized under this chapter, and in …

Whenever the Building Authority deems it advisable and in the interests of the authority to borrow funds temporarily for any of the purposes enumerated in § 5-12-28 , the authority may from time to time, and pursuant to appropriate resolution, issue interim notes to evidence the …

Each member shall, before entering upon the duties of his office, take and subscribe the constitutional oath of office and give bond in the penal sum of twenty - five thousand dollars conditioned upon the faithful performance of his duties. The oath and bond shall be filed in the…

The Building Authority may provide for the registration of the notes in the name of the owner either as to principal alone, or as to both principal and interest, on such terms and conditions as the authority may determine by the resolution authorizing their issue. The notes shall…

The Building Authority, in order further to secure the payment of the interim notes, is, in addition to the foregoing, authorized and empowered to make any other or additional covenants, terms, and conditions not inconsistent with the provisions of §§ 5-12-11 and 5-12-12 , and do…

The interim notes shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. No member, officer, agent, or employee of the authority, nor any other person who executes interim notes, shall be liable personally by rea…

Contemporaneously with the issue of revenue bonds as provided by this chapter, all interim notes, even though they may not then have matured, shall be paid, both principal and interest to date of payment, from the funds derived from the sale of revenue bonds for the permanent fin…

The gross total income from: (1) The sale of bonds; (2) Charges, fees, or rentals; and (3) All other revenue derived from any project undertaken pursuant to this chapter shall be paid to the treasurer of the State of South Dakota. Said income shall be held by him in trust for the…

The Building Authority shall keep account of the gross total income derived from each separate project or any combination thereof undertaken pursuant to this chapter. Disbursements from a given account in the public building fund shall be ordered by the authority only for the pay…

To accomplish projects of the kind listed in this chapter, the Building Authority may convey property, without charge, to the State of South Dakota, if all debts which have been secured by the income from the property have been paid. The authority may transfer title and jurisdict…

An accurate record shall be kept of the rental payments under each lease entered into by the Building Authority and any officer, department, board, commission, or other agency of the State of South Dakota, or the commissioner of human resources and administration when requested t…

The Building Authority shall be audited annually in accordance with chapter 4-11 . Source: SL 1967, ch 276 , § 11; SL 1989, ch 51 .

Notwithstanding any other provisions of law, all funds received by the Building Authority shall be set forth in an informational budget as described in § 4-7-7.2 and be annually reviewed by the Legislature. Source: SL 1984, ch 4 , § 2.

The Building Authority shall possess the power to enter into contracts regarding any matter connected with any corporate purpose within the objects and purposes of this chapter. Source: SL 1967, ch 276 , § 5.

No member of such Building Authority shall receive any compensation for services rendered under this chapter. However, members shall be reimbursed for necessary expenses incurred in connection with duties and powers prescribed by this chapter. Source: SL 1967, ch 276 , § 1.

To accomplish projects of the kind listed in this chapter, the authority may adopt all necessary bylaws, rules, and regulations for the conduct of the business and affairs of the authority, and for the management and use of facilities and sites acquired under the powers granted b…

If any clause or other portion of this chapter shall be held invalid, that decision shall not affect the validity of the remaining portions of this chapter. It is hereby declared that all such remaining portions of this chapter are severable, and that the Legislature would have e…

Improved or unimproved land held by or transferred to the Building Authority pursuant to § 5-12-10 , may be leased and the improvements thereon sold to a person, partnership, association, limited liability company, or corporation. The improvements may be sold only at their fair m…

Source: SL 1983, ch 32 , § 1; SL 1989, ch 212 , § 2; SL 1994, ch 351 , § 4. 5-12-43 . Sale and lease - back arrangements--Contracts to acquire use or ownership authorized--Terms. The Building Authority may enter into any contract necessary to acquire the right to use or the owner…