Title 6 — LOCAL GOVERNMENT GENERALLY
24 chapters · 201 sections in this title.
SDCL § 6-20-1 Local government airport improvement contracts--Authorization, issuance, and sale of revenue bonds
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Any municipality or county owning and operating an airport which has been approved by the state Aeronautics Commission for public use may contract to construct, improve, and equip buildings, hangars, runways, and structures for the improvement of its municipal or county airport. …
SDCL § 6-20-2 Contents of authorizing resolution or ordinance
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The revenue bonds shall be issued pursuant to and in accordance with the resolution or ordinance adopted by the governing body of the municipality or county, describing one or more buildings, hangars, runways, or structures whose revenues are to be pledged for the payment of the …
SDCL § 6-20-3 Adoption of resolution by airport board--Approval by governing body
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When an airport board has been organized in a municipality, the resolution or ordinance shall be adopted by that board, subject to approval by resolution of the governing body. Source: SL 1963, ch 1 , § 2; SL 1984, ch 43 , § 128; SDCL § 50-8-3 ; SL 2019, ch. 203, § 83.
SDCL § 6-20-4 Minimum revenues for issuance of bonds--Items includable in estimated future revenues
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No bonds may be issued unless the existing and estimated revenues pledged to the payment of the bonds are at least equal to the maximum amount of principal and interest to become due thereon in any fiscal year, and the revenues not pledged plus the taxes which may be levied withi…
SDCL § 6-20-5 Funds available for payment of bonds--Pledge of revenue from future facilities
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The revenue bonds authorized by this chapter shall be payable solely from the revenues described in the resolution or ordinance initially adopted, except that the resolution or ordinance may also pledge therefor the revenues of any other facilities to be acquired in future, and m…
SDCL § 6-20-6 Revenues available for operation and maintenance of airport--Taxing power not used to liquidate bonds--Exceptions
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The pledge of revenues made by the initial resolution shall be sufficient to pay the interest and the principal thereof when due, and shall be irrepealable until the bonds and the interest are paid, and that the revenues not pledged and the taxes levied by the municipality or cou…
SDCL § 6-20-7 Covenants respecting operation and maintenance of airport
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Without limitation of the generality hereof, covenants may be entered into as to the manner of operation and maintenance of the airport, the insurance of properties whose revenues are pledged for payment of the bonds, the collection, segregation, deposit, investment, safekeeping,…
SDCL § 6-20-8 Default in payment of bonds--Mismanagement of airport--Appointment of receiver for payment of bonds--Restoration of airport to local control
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In addition to any other remedy, if there be any default in the payment of the principal or interest or in any covenant materially affecting the rights of any bondholder, and such default shall continue for a period of not less than three months, or if the airport shall be misman…