Title 1 — STATE AFFAIRS AND GOVERNMENT

The Legislature finds and declares: (1) That the State of South Dakota and the northern plains region of the United States are underrepresented and underdeveloped in the areas of scientific and technological investigation, experimentation, and development; (2) That fostering and …

The board shall meet on the call of the chair, upon the written request of four members of the board, or upon the request of the executive director. Source: SL 2004, ch 15 , § 10.

A majority of the voting members of the board constitutes a quorum for the transaction of business. Any official act of the authority requires the affirmative vote of at least four voting members of the board at a meeting of the board at which the members casting those affirmativ…

Notwithstanding any other law to the contrary it is not a conflict of interest for a trustee, director, officer, or employee of any health institution, educational institution, financial institution, investment banking firm, brokerage firm, commercial bank or trust company, archi…

Each meeting of the authority for any purpose whatsoever shall be open to the public as required by chapter 1-25 . Notice of meetings shall be as provided in the bylaws of the authority. Resolutions need not be published or posted. Source: SL 2004, ch 15 , § 13.

The executive director or other person designated by the authority shall keep a record of the proceedings thereof and shall be custodian of all books, documents, and papers filed with the authority, the minute books or journal of the authority and its official seal. The executive…

The authority may: (1) Have perpetual succession as a body politic and corporate exercising essential public functions; (2) Sue and be sued in its own name; (3) Have an official seal and alter the seal at will; (4) Maintain an office at such places within the state as the authori…

The authority may, pursuant to chapter 1-26 , promulgate rules necessary to regulate the authority's affairs, to carry into effect the powers and purposes of the authority, and to conduct its business, including rules to: (1) Establish application procedures for grants and loans …

Loans and grants made by the authority pursuant to the terms of this chapter shall be upon such terms and conditions as the authority may deem necessary, and may be with or without interest and on a secured or unsecured basis. Source: SL 2004, ch 15 , § 17.

The authority may invest any funds not needed for immediate investment in the following: (1) Bonds, notes, certificates of indebtedness, treasury bills, or other securities constituting direct obligations of, or obligations the principal of and interest on which are fully guarant…

In addition to the investments authorized by § 1-16H-18 , the authority may invest any funds of the authority in an account with the State Investment Council pursuant to chapter 4-5 . Source: SL 2005, ch 11 , § 1.

The authority may issue revenue bonds, notes, or other evidences of indebtedness to pay the cost incurred in connection with developing, constructing, acquiring, improving, maintaining, operating, and decommissioning projects. For the purpose of evidencing the obligations of the …

The purpose of the authority created by this chapter is to foster and facilitate scientific and technological investigation, experimentation, and development by creating a mechanism through which laboratory, experimental, and development facilities may be acquired, developed, con…

Any holder of any revenue bonds, notes, or other instruments issued by the authority may bring suits at law or proceedings in equity to compel the performance and observance by any corporation or person or by the authority or any of its agents or employees of any contract or cove…

If the authority fails to pay the principal of or interest on any of the revenue bonds or premium, if any, as the principal or interest becomes due, a civil action to compel payment may be instituted in the appropriate circuit court by the holder or holders of the revenue bonds o…

Notwithstanding the form and tenor of any such revenue bonds, notes, or other instruments and in the absence of any express recital on the face of any such revenue bond, note, or other instruments that it is non-negotiable, all such revenue bonds, notes, and other instruments are…

To secure the payment of any or all of such revenue bonds, notes, or other instruments, the revenues to be received by the authority from a lease agreement or loan agreement shall be pledged, and, for the purpose of setting forth the covenants and undertakings of the authority in…

The revenue bonds or notes shall be secured as provided in the authorizing resolution which may, notwithstanding any other provision of this chapter, include in addition to any other security a specific pledge or assignment of and lien on or security interest in any or all revenu…

The State of South Dakota pledges to and agrees with the holders of the revenue bonds and notes of the authority issued pursuant to this chapter that the state will not limit or decrease the rights and powers vested in the authority by this chapter so as to impair the terms of an…

Nothing in this chapter may be construed to authorize the authority to create a debt of the state within the meaning of the Constitution or statutes of South Dakota and all revenue bonds, notes, other instruments and obligations issued by the authority pursuant to the provisions …

The state and all counties, municipalities, political subdivisions, public bodies, public officers, banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, personal representatives, conservators, trustees, an…

Any documentary material or data made or received by the authority for purposes under this chapter, to the extent that such material or data consists of trade secrets, scientific or technical secrets, matters involving national security, or commercial or financial information reg…

The authority may acquire title to any project with respect to which it exercises its authority. Source: SL 2004, ch 15 , § 29.

Terms used in this chapter mean: (1) "Authority," the South Dakota Science and Technology Authority created by this chapter; (2) "Board," the board of directors of the authority; (3) "Project," any undertaking that includes surface and underground real and personal property, incl…

The authority may acquire by purchase, lease, gift, or otherwise any property or rights to any property from any person or any governmental agency, whether improved for the purposes of any prospective project or unimproved. The authority may also accept any donation of funds for …

The authority may acquire, develop, construct, improve, maintain, operate, and decommission any project, either under its own direction or through collaboration with any approved applicant, or acquire any project through purchase or otherwise, using for that purpose the proceeds …

For the purpose of §§ 1-16H-31.1 to 1-16H-31.10 , inclusive, the term, subsurface property, means complete fee title to real property located one hundred feet or more below the surface, including the right to use such real property to construct, operate, support and maintain unde…

The provisions of chapters 45-4 and 45-5A do not apply to subsurface property rights taken by the authority pursuant to §§ 1-16H-31.1 to 1-16H-31.10 , inclusive. Source: SL 2005, ch 12 , § 10.

The authority may condemn private and public subsurface property for public use for the purposes of acquiring, developing, constructing, maintaining, or operating projects. The authority may only condemn subsurface property upon or through which it already owns or controls some, …

In any proceeding initiated under this chapter and chapter 21-35 , the authority may, at any time before final judicial determination of the rights of the parties, file a declaration of taking, signed by the authority, declaring the extent of the subsurface property interest take…

Title to the subsurface property interest specified in the declaration vests in the authority and the subsurface property interest is deemed condemned and taken for the use of the authority, and the right to just compensation for the subsurface property interest vests in the pers…

Upon filing of a declaration of taking pursuant to § 1-16H-31.3 , the court may fix the time within which, and the terms upon which, the parties in possession are required to surrender possession to the authority. A notice shall be issued stating that if the defendants do not app…

A copy of the declaration of taking filed pursuant to § 1-16H-31.2 and any amendments thereto shall be served with the condemnation petition or by mailing a copy thereof to each of the known defendants by registered mail at the defendant's last known post office address. Source: …

If any person who is a proper party defendant or if any affected subsurface property is omitted from the declaration of taking filed pursuant to § 1-16H-31.2 , the authority may file amendments to include the person or subsurface property. Any amendment from the time of filing ha…

If the authority elects to utilize the procedures set forth in §§ 1-16H-31.2 to 1-16H-31.7 , inclusive, for possession of subsurface property, the authority shall deposit with the court the money required by § 21-35-11 as a condition to the exercise of such power. In that case, t…

Upon application of the parties in interest, the court may order that all of the money deposited in court pursuant to § 1-16H-31.8 , or any part thereof, be paid for or on account of the just compensation to be awarded in the proceeding. If the compensation finally awarded for th…

The authority may enter into intergovernmental agreements with any governmental agency. Source: SL 2004, ch 15 , § 32.

The authority may share employees with governmental agencies. Source: SL 2004, ch 15 , § 33.

Inapplicability of §

Any department, board, commission, agency, or officer of this state or the Board of Regents of the State of South Dakota, may transfer jurisdiction of or title to any property to, or may exchange property under its control with, the authority if the transfer or exchange is approv…

The authority shall designate a qualified public depository as defined in § 4-6A-1 as a depository of its money. Those depositories shall be designated only within the state and upon condition that bonds approved as to form and surety by the authority and at least equal in amount…

The income of the authority and all land, improvements, equipment, fixtures, or other property interests owned by the authority are exempt from all taxation in the State of South Dakota. The authority is exempt from the provisions of chapter 47-31B . Source: SL 2004, ch 15 , § 37…

The authority is attached to the Governor's Office of Economic Development for reporting purposes. The authority shall submit such records, information, and reports in the form and at such times as required by the commissioner. However, the authority shall report at least annuall…

Notwithstanding any other provisions of law, all funds received by the authority shall be set forth in an informational budget as described in §

The South Dakota Science and Technology Authority is hereby created as a body corporate and politic. Source: SL 2004, ch 15 , § 4.

The functions and programs of the former Homestake Laboratory Conversion Project are transferred to the authority. Source: SL 2004, ch 15 , § 40.

The authority may accept the donation of the former Homestake Mine in Lead, South Dakota, or any part thereof. Source: SL 2004, ch 15 , § 41.

The sections, clauses, sentences, and parts of this chapter are severable, are not matters of mutual essential inducement, and any of them may be excised by any court of competent jurisdiction if this chapter would otherwise be unconstitutional or ineffective. It is the intention…

Any person who donates or otherwise conveys without cost any underground mine workings and related real or personal property, including fixtures or structures, to the Science and Technology Authority for public use or benefit is immune from any liability under state law which ari…

If the authority leases land, improvements, equipment, fixtures, or other property interests in Lawrence County to an entity that: (1) Is organized and operated on a not-for-profit basis; (2) Is organized as a limited liability company; (3) Has members of the limited liability co…