Title 1 — STATE AFFAIRS AND GOVERNMENT
88 chapters · 1,826 sections in this title.
SDCL § 1-16A-26 Leasing of facilities--Terms of lease--Option to purchase
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to lease to a participating health institution or a participating educational institution, as the case may be, any or all of the facilities upon such terms an…
SDCL § 1-16A-27 Duration of leases--Rentals required
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Any lease of the facilities entered into pursuant to the provisions of this chapter shall be for a term not shorter than the longest maturity of any bonds issued to finance such facilities or a portion thereof and shall provide for rentals adequate to pay principal and interest o…
SDCL § 1-16A-28 Establishment of rents and charges
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, generally to fix and revise from time to time and charge and collect rates, rents, fees, and charges for the use of and services furnished or to be furnished …
SDCL § 1-16A-29 Rules and regulations for use of facilities
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to establish rules and regulations for the use of facilities and to designate a participating health institution or participating educational institution, as …
SDCL § 1-16A-3 Authority created--Public function
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There is hereby created a body politic and corporate to be known as the "South Dakota Health and Educational Facilities Authority." The authority is constituted a public instrumentality and the exercise by the authority of the powers conferred by this chapter shall be deemed and …
SDCL § 1-16A-3.1 Authority continued within Bureau of Finance and Management--Records and reports
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The health and educational facilities authority shall continue within the Bureau of Finance and Management, and shall retain all its prescribed functions, including administrative functions. The authority shall submit such records, information, and reports in the form and at such…
SDCL § 1-16A-30 Laws and ordinances applicable to facilities
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All facilities shall be subject to the planning, zoning, sanitary, and building laws, ordinances and regulations applicable to the locality in which any such facilities are to be situated. Source: SL 1972, ch 10 , § 18.
SDCL § 1-16A-31 Loans to participating institutions--Maximum amount
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to make loans to or for the benefit of any participating health institution or participating educational institution, as the case may be, for the cost of the …
SDCL § 1-16A-32 Refunding loans to participating institutions--Findings required
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to make loans to or for the benefit of a participating health institution or participating educational institution, as the case may be, to refund outstanding …
SDCL § 1-16A-33 Initial planning service fee to accompany applications
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When any application is made to the authority by any participating health institution or participating educational institution for financial assistance to provide for its facilities, such application shall be accompanied by an initial planning service fee in an amount determined …
SDCL § 1-16A-34 Annual planning service fee payable to authority
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In addition to such initial fee, an annual planning service fee shall be paid to the authority by each participating health institution and each participating educational institution in an amount not exceeding one - fourth of one percent of the principal amount of bonds issued on…
SDCL § 1-16A-35 Purpose of planning service fees--Agencies used in planning
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It is anticipated the fees required by §§ 1-16A-33 and 1-16A-34 shall be used for necessary expenses to determine the need of facilities in the area concerned and to that end the authority may utilize recognized voluntary and official health planning and educational planning orga…
SDCL § 1-16A-36 Planning services and surveys obtained from other agencies
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In addition the authority may, for a negotiated fee, retain the services of any other public or private person, firm or corporation for the furnishing of services and data for use by the authority in determining the need and location of any such facilities for which application i…
SDCL § 1-16A-37 Proration of planning service fees between institutions
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In the event bonds are issued by the authority for the concurrent benefit of two or more participating health institutions or two or more participating educational institutions then the fees to be paid to the authority under §§ 1-16A-33 and 1-16A-34 shall be prorated among the in…
SDCL § 1-16A-38 Issuance and refunding of bonds and obligations
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The authority shall have the power, together with all powers incidental thereto or necessary for the performance thereof, to issue bonds, notes, or other obligations for any of its corporate purposes and to refund the same, all as provided for in this chapter. Source: SL 1972, ch…
SDCL § 1-16A-39 Terms and form of bonds issued
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The bonds may be issued as serial bonds or as term bonds or a combination of both types. Such bonds may be executed and delivered by the authority at any time and from time to time, may be in such form and denominations and of such terms and maturities, may be in fully registered…
SDCL § 1-16A-4 Appointment of members of authority--Qualifications
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The authority shall consist of seven members to be appointed by the Governor who are residents of the state. Not more than four of the seven members of the authority may be of the same political party. At least one of the members to be appointed by the Governor must be or must ha…
SDCL § 1-16A-40 Sale of bonds--Expenses of issuance
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The bonds of the authority may be sold at public or private sale for such price and in such manner and from time to time as may be determined by the authority, and the authority may pay all expenses, premiums, and commissions which it may deem necessary or advantageous in connect…
SDCL § 1-16A-41 Negotiability of bonds
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All bonds of the authority and the interest coupons applicable thereto are hereby made and shall be construed to be negotiable instruments. Source: SL 1972, ch 10 , § 11.
SDCL § 1-16A-42 Bonds payable only from revenues
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All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the authority of the facilities concerned or of any thereof as may be designated in the resolutions of the authority under which the bonds shall be autho…
SDCL § 1-16A-43 Pledge of revenues to secure bonds
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The principal of and interest on any bonds issued by the authority shall be secured by a pledge of the revenues, rentals, and receipts out of which the same shall be made payable and may be secured by a trust indenture or mortgage or deed of trust (including assignment of leases …
SDCL § 1-16A-44 Pledge continuing until bonds paid
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Each pledge, agreement, lease, indenture, mortgage and deed of trust made for the benefit or security of any of the bonds of the authority shall continue effective until the principal of and interest on the bonds for the benefit of which the same were made shall have been fully p…
SDCL § 1-16A-45 Maintenance, rental and funding agreements in bond resolution
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The resolution under which the bonds are authorized to be issued and any such trust indenture, mortgage, or deed of trust may contain any agreements and provisions respecting the maintenance of the properties covered thereby, the fixing and collection of rents for any portions th…
SDCL § 1-16A-46 Pooling of leases for pledge of revenues
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In addition to the foregoing, bonds of the authority may be secured by a pooling of leases whereby the authority may assign its rights, as lessor, and pledge rents under two or more leases of the facilities with two or more participating health institutions or participating educa…
SDCL § 1-16A-47 Bond redemption privileges retained
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If deemed advisable by the authority there may be retained in the resolutions or the trust indenture under which any bonds of the authority are authorized to be issued an option to redeem all or any part thereof as may be specified in such resolutions or in such trust indenture, …
SDCL § 1-16A-48 Additional bonds for facilities or HEAL loans--Protection of prior bondholders
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Issuance by the authority of one or more series of bonds for one or more purposes shall not preclude it from issuing other bonds in connection with the same facilities or HEAL loans or any other facilities or HEAL loans or any other purpose hereunder, but the resolutions or trust…
SDCL § 1-16A-49 Remedies of bondholders on default
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In the event of default in payment of the principal of or interest on any bonds of the authority or in any agreements of the authority made as a part of the contract under which the bonds were issued, whether contained in the resolutions authorizing the bonds or in any trust inde…
SDCL § 1-16A-5 Terms of office of members--Vacancies
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Upon the expiration of the term of any appointed member his successor shall be appointed for a term of five years expiring on June thirtieth and until his successor has been appointed and has qualified. Any member shall be eligible for reappointment. The Governor shall fill any v…
SDCL § 1-16A-50 General obligation not created by issuance of bonds--Tax levy not promised
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Bonds issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof other than the authority or a pledge of the faith and credit of the state or of any such political subdivision other than t…
SDCL § 1-16A-51 State debt not created--Disclaimer in bonds
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Nothing in this chapter shall 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 bonds issued by the authority pursuant to the provisions of this chapter are payable and shall state that…
SDCL § 1-16A-52 Pledge of full faith and credit of authority or institution
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Nothing contained in § 1-16A-50 or 1-16A-51 shall prevent or be construed to prevent the authority from pledging its full faith and credit or the full faith and credit of a participating health institution or participating educational institution, as the case may be, to the payme…
SDCL § 1-16A-52.1 Financing through federally guaranteed securities authorized
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Notwithstanding any other provisions of this chapter to the contrary, the authority may finance the cost of an educational or health facility, or refund outstanding indebtedness incurred prior to or after the effective date of this section for the construction or acquisition of a…
SDCL § 1-16A-52.2 Commitments and agreements for financing through federally guaranteed securities
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In furtherance of the powers granted in § 1-16A-52.1 , the authority may acquire or enter into commitments to acquire any federally guaranteed security and to pledge or otherwise use any such federally guaranteed security in such manner as the authority deems in its best interest…
SDCL § 1-16A-52.3 Bonds not to exceed cost of facility--Expenses included--Terms and sale of bonds
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Any bonds issued pursuant to § 1-16A-52.1 shall not exceed in principal amount the cost of such educational or health facility as determined by the participating educational or health institution and approved by the authority. However such costs may include, without limitation, a…
SDCL § 1-16A-52.4 Title to facility financed through federally guaranteed securities--Mortgage--Lease prohibited
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If an educational or health facility is financed or refinanced pursuant to §§ 1-16A-52.1 to 1-16A-52.3 , inclusive, the title to the facility shall remain in the participating educational or health institution owning the facility. The title is subject to the lien of any mortgage,…
SDCL § 1-16A-52.5 Return of securities to issuer when provision made for payment
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The provisions of § 1-16A-56 shall not apply to any educational or health facility financed pursuant to §§ 1-16A-52.1 to 1-16A-52.5 , inclusive, but the authority shall return the securities purchased through the issuance of bonds thereunder to the issuer of such securities when …
SDCL § 1-16A-53 Refunding bonds authorized--Amount
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Any bonds of the authority at any time outstanding may at any time and from time to time be refunded by the authority by the issuance of its refunding bonds in such amount as the authority may deem necessary but not exceeding an amount sufficient to refund the principal of the bo…
SDCL § 1-16A-54 Methods of refunding--Maturity dates
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Any such refunding may be effected whether the bonds to be refunded shall have then matured or shall thereafter mature, either by sale of the refunding bonds and the application of the proceeds thereof for the payment of the bonds to be refunded thereby, or by the exchange of the…
SDCL § 1-16A-54.1 Bond issue authorized to refund securities of participating institution
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Notwithstanding any other provisions of this chapter to the contrary, the authority may finance the cost of an educational or health facility, or refund outstanding indebtedness incurred prior to or after July 1, 1976, for the construction or acquisition of an educational or heal…
SDCL § 1-16A-54.2 Amount and terms of securities purchased--Mortgage--Insurance and guaranties
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Any securities purchased pursuant to § 1-16A-54.1 shall have the same principal amounts, maturities, and interest rates as the bonds being issued pursuant to §
SDCL § 1-16A-54.3 Pledge of securities to secure bonds--Income used for payment--Maximum principal--Bonds subject to other provisions of chapter
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Any bonds issued pursuant to § 1-16A-54.1 shall be secured by a pledge of the securities purchased pursuant to § 1-16A-54.1 under the trust agreement or indenture creating such bonds, shall be payable solely out of the payments to be made on such securities, and shall not exceed …
SDCL § 1-16A-54.4 Title of financed facility to remain in participating institution--Mortgage--Lease prohibited
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If an educational or health facility is financed pursuant to §§ 1-16A-54.1 to 1-16A-54.3 , inclusive, the title to the facility shall remain in the participating educational or health institution owning the facility. The title is subject to the lien of the mortgage, if any, secur…
SDCL § 1-16A-55 Bonds of authority as legal investments
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The state and all counties, municipalities, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, insu…
SDCL § 1-16A-56 Conveyance of facility to participating institution when debt paid
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When the principal of and interest on bonds issued by the authority to finance the cost of facilities or to refinance outstanding indebtedness of one or more participating health institutions or participating educational institutions, as the case may be, including any refunding b…
SDCL § 1-16A-56.1 Conveyance provisions inapplicable to refinanced facility--Return of securities when bonds paid or payment provided for
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The provisions of § 1-16A-56 shall not apply to any educational or health facility financed pursuant to §§ 1-16A-54.1 to 1-16A-54.4 , inclusive, but the authority shall return the securities purchased through the issuance of bonds thereunder to the participating educational or he…
SDCL § 1-16A-57 Expenses paid from authority funds--Borrowing for initial operation
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All expenses of the authority incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter and no liability shall be incurred by the authority beyond the extent to which moneys shall have been provided und…
SDCL § 1-16A-58 Tax exemption of authority
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The authority is hereby declared to be performing a public function in behalf of the state and to be a public instrumentality of the state. Accordingly, the income of the authority, and all properties at any time owned by the authority, shall be exempt from all taxation in the St…
SDCL § 1-16A-59 Securities regulation
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For purposes of chapter 47-31B , bonds issued by the authority are deemed to be securities issued by a public instrumentality of the State of South Dakota. Source: SL 1972, ch 10 , § 14; SL 1989, ch 30 , § 3; SL 2004, ch 278 , § 54.
SDCL § 1-16A-6 Business interests not disqualifying for membership--Abstention where conflict of interest
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Notwithstanding any other law to the contrary it shall not be or constitute 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 …
SDCL § 1-16A-60 Additional proceedings not required--Police power reserved
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No proceedings, referendum, notice, or approval shall be required for the creation of the authority or the issuance of any bonds or any instrument as security therefor, except as herein provided, any other law to the contrary notwithstanding; provided, that nothing herein shall b…