Title 46A — WATER MANAGEMENT

Executed 46A-1-2.10

Before issuing any interim notes pursuant to § 46A-1-18 , the Board of Water and Natural Resources shall conduct an independent review of the feasibility of the project to ensure that projected water consumption, operation costs, construction costs, revenues and other statistics …

Any interim financing arrangement under § 46A-1-18 shall provide that the person or public entity receiving the proceeds of such interim financing shall pledge and dedicate the proceeds of its loan or grant from the United States as security for the interim notes issued pursuant …

Any resolution authorizing the issuance of such notes shall specify the principal amount, rate of interest and maturity date, but not to exceed five years from date of issue, and such other terms as may be specified in such resolution. Source: SL 1972, ch 241 , § 26; SDCL Supp, §…

All such notes and the interest on the notes may be secured by a pledge of, and payable from, any income and revenue (subject to the prior payment of the operation and maintenance expenses of any project) derived from the project to be undertaken with the proceeds of the notes; t…

The district, in order further to secure the payment of the interim notes, may make any other or additional covenants, terms, and conditions not inconsistent with the provisions of this chapter, and do anything that may be necessary or convenient or desirable in order to secure p…

The district 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 district may determine by the resolution authorizing their issue. Interest on the notes may …

The notes may be executed by the chairman of the board and shall be attested by the secretary of the Department of Agriculture and Natural Resources. The district may by resolution provide that any signatures, other than the authentication signature of the trustee, on the notes m…

The provisions of §§ 46A-1-38 to 46A-1-44 , inclusive, § 46A-1-46 , § 46A-1-49 , § 46A-1-54 , §§ 46A-1-56 to 46A-1-59 , inclusive, and § 46A-1-70 , relating to bonds shall also apply to notes issued pursuant to §

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…

Upon presentation of a request to authorize the construction of a water facility of the state water resources management system by the Board of Water and Natural Resources in accordance with § 46A-1-11 , the board shall provide a plan for financing the construction of the project…

Terms as used in this chapter, unless the context otherwise requires, shall mean: (1) "Basis point," one hundredth of one percent of interest; (2) "Board," the Board of Water and Natural Resources created by § 1-41-11 ; (3) "District," the South Dakota Conservancy District; (4) "…

The district may issue bonds authorized by the Legislature pursuant to § 46A-1-29 or by § 46A-1-31 for the following purposes, which are hereby determined to be in the public interest and to constitute lawful and public purposes: (1) To acquire, construct, plan, or arrange for ac…

In addition to the aggregate indebtedness authorized by the Legislature and Board of Water and Natural Resources pursuant to §§ 46A-1-29 and 46A-1-30 , the district may issue bonds in an amount not to exceed in aggregate eight million dollars at any time for the purpose of financ…

The bonds may be issued and sold in one or more series, may be in such amounts and at such prices, may bear such date or dates, may be in such denomination or denominations, may mature at such time or times not exceeding fifty years from the respective dates thereof, may mature i…

In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the district shall have the power to provide that bonds issued under this chapter, subject only to the prior payment of the operation an…

The district may enter into any contract that the district 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 district. The contracts may include: interest rate e…

46A-1-36 Covenant to collect revenues sufficient for retirement of bonds. 46A-1-37 Covenant against alienation or encumbrance of projects while bonds outstanding. 46A-1-38 Covenants as to management of project and accounting for funds. 46A-1-39 Trust agreements. 46A-1-40 Addition…

The district may covenant with or for the benefit of the holder of any bonds issued under this chapter that if any such bonds remain outstanding and unpaid, the district will fix, maintain, and collect in such installments as may be agreed upon, all revenues authorized to be pled…

The district may covenant that if any of the bonds issued under this chapter remain outstanding and unpaid, the district will not, except upon such terms and conditions as may be determined, voluntarily create or cause to be created any debt, lien, mortgage, pledge, assignment, e…

The district may covenant with or for the benefit of the holder of any bonds issued under this chapter as to all matters deemed advisable by the district including: (1) The purposes, terms, and conditions for the issuance of additional parity or junior lien bonds that may thereaf…

The district may vest in a trustee the right to receive any part of the proceeds of the bonds and any part of the income and revenue pledged and assigned to, or for the benefit of, the holder of bonds issued under this chapter; the right to hold, apply, and dispose of the bonds; …

The enactment of this chapter does not create any right to water or the use of water and does not affect any existing legislation with respect to water or water rights, except as expressly provided in this chapter. Nothing in this chapter affects vested water rights. Source: SL 1…

The district may covenant to perform any act and to do anything as may be necessary or convenient or desirable in order to secure its bonds, or as may in the judgment of the district tend to make the bonds more marketable, notwithstanding that such acts or things may not be enume…

Nothing in this chapter shall be construed to authorize the district to contract a debt on behalf of, or in any way to obligate, the State of South Dakota, or to pledge, assign, or encumber in any way, or to permit the pledging, assigning, or encumbering in any way, of appropriat…

Any bonds issued pursuant to this chapter are obligations of the district payable only in accordance with the terms of the bonds and are not obligations general, special, or otherwise, of the State of South Dakota. Such bonds do not constitute a debt, legal or moral, of the State…

Neither the resolution authorizing the bonds nor any financing statement or other instrument or document need be filed or recorded in any public records in order to perfect the lien on the pledge of the revenues to pay the bonds as against third parties. Source: SL 1972, ch 241 ,…

The bonds bearing the signatures of officers of the district in office on the date of the signing of the bonds are valid and binding obligations, notwithstanding that before the delivery of and payment for the bonds any person whose signature appears on the bonds may have ceased …

All bonds issued under this chapter shall be sold in a manner and for a price or prices as the district shall determine. Source: SL 1972, ch 241 , § 44; SL 1980, ch 310 , § 11; SDCL Supp, § 46-17A-43; SL 1988, ch 363 , § 3.

The coupon bonds shall be fully negotiable within the meaning of the Uniform Commercial Code, Title 57A of South Dakota Codified Laws. Source: SL 1972, ch 241 , § 45; SDCL Supp, § 46-17A-44.

The state and all counties, municipal corporations, political subdivisions, and public bodies, and public officers of any thereof, all banks, subject to applicable investment limitations, bankers, trust companies, savings banks and institutions, building and loan associations, sa…

Notwithstanding the provisions of any other law, no moneys derived from the sale of bonds or notes issued under the provisions of this chapter, or pledged or assigned to or in trust for the benefit of the holder or holders of the bonds or notes, may be required to be paid into th…

46A-1-6

Any financing agreement under § 46A-1-49 shall provide for repayment of the loan through payments sufficient to pay the principal of, premium if any, and interest on the bonds issued in connection with the agreement and, in order to provide for and secure the repayment of the bon…

Before entering into any financing agreement under § 46A-1-49 , the Board of Water and Natural Resources shall be satisfied by opinion of the attorney general, by an examination of relevant charters, resolutions, minutes, and other documents, or by other sufficient means that the…

Before entering into any financing agreement under § 46A-1-49 , the Board of Water and Natural Resources shall conduct an independent review of the feasibility of the project to ensure that projected water consumption, operation costs, construction costs, revenues, and other stat…

The provisions of § 46A-1-48 do not limit the power of the district to agree in connection with the issuance of any of its bonds as to the custody and the disposition of the moneys received from the sale of the bonds or from the income and revenues pledged or assigned to or in tr…

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

Neither the members of the Board of Water and Natural Resources nor any other person executing the notes or bonds issued by the district shall be subject to personal liability or accountability by reason of the issuance thereof or any review or finding of feasibility under § 46A-…

The district may issue negotiable refunding bonds for the following purposes: (1) To refund unpaid matured bonds; (2) To refund unpaid matured coupons evidencing interest upon its unpaid matured bonds; and (3) To refund interest at the coupon rate upon its unpaid matured bonds th…

Refunding bonds issued pursuant to § 46A-1-56 may be sold at such price as the district shall determine and the proceeds received at any such sale shall be used to pay the bonds, interest coupons, and interest not represented by coupons, if any. Bonds and interest coupons which h…

The district may issue negotiable refunding bonds under the provisions of this chapter to refund bonds at or before their maturity or which by their terms are subject to redemption before maturity, or both, in an amount necessary to refund: (1) The principal amount of the bonds t…

Refunding bonds issued pursuant to § 46A-1-58 may be sold at a price determined by the district. All proceeds received at the sale of the refunding bonds (excepting the accrued interest received) shall be used: (1) If the bonds to be refunded are then due, for the payment of the …

46A-1-8 Resolution of conflicting interests. 46A-1-9

The state water pollution control revolving fund program and the state drinking water revolving fund program are hereby established. Program subfunds shall be created within the water and environment fund established pursuant to §

Funds from the state water pollution control revolving fund program and the state drinking water revolving fund program shall be disbursed and administered according to rules promulgated by the Board of Water and Natural Resources pursuant to chapter 1-26 , § 46A-1-65 and the pro…

The Board of Water and Natural Resources may, by rules promulgated pursuant to chapter 1-26 , establish criteria and procedures for the selection of projects to receive funds from the state water pollution control revolving fund program and the state drinking water revolving fund…

All money disbursed from the water and environment fund shall be authorized by an act of the Legislature for projects approved as part of the state water resources management system or for ongoing programs that have been or shall be established by the Legislature for the purpose …

Disbursements from the South Dakota water and environment fund shall be on warrants drawn by the state auditor pursuant to vouchers approved by the secretary of the Department of Agriculture and Natural Resources. Source: SL 1972, ch 241 , § 54; SDCL Supp, § 46-17A-55; SL 1992, c…

Funds accruing to the district under contract or instrument of conveyance for energy industry use under § 46A-2-19 , received under § 46A-2-25 or any other source unless otherwise provided by law, shall be deposited in the South Dakota water and environment fund established by §