___________________ moved that SB 43 be amended as follows:
" Section 1. That § 1-16A-93 be amended to read as follows:
1-16A-93. Beginning July 1, 2013, any bonds, notes or other obligations of the authority which
are payable out of receipts, rentals, and other payments made pursuant to lease purchase agreements
with the Western Dakota Technical Institute, the Southeast Technical Institute, the Lake Area
Technical Institute, the Mitchell Technical Institute, or the South Dakota Board of Education under
the authority of chapter 13-39 may only be issued if the Board of Education determines, by the
adoption of a resolution, that the estimated receipts, rentals, and other payments, including
appropriations by the Legislature, student fee payments, or other balances or revenues pledged under
the applicable bond indenture or similar agreement will not be less than one hundred three percent
of the projected scheduled payments of principal and interest on all outstanding bonds which, for
purposes of that determination shall include the proposed bonds to be issued and shall exclude any
bonds to be refunded. Proposed issuance of obligations must comply with sections 4 and 5 of this
Act. The South Dakota Board of Education must approve the issuance of additional obligations prior
to submission to the Legislature. In issuing additional bonds, the authority may conclusively rely
upon the determination of the board.
Section 2. That § 1-16A-95 be amended to read as follows:
1-16A-95. Beginning on July 1, 2013, the issuance of any additional bonds, notes, or other
obligations of the authority which are payable out of receipts, rentals, and other payments made
pursuant to lease purchase agreements with the Western Dakota Technical Institute, the Southeast
Technical Institute, the Lake Area Technical Institute, the Mitchell Technical Institute, or the South
Dakota Board of Education under the authority of chapter 13-39 shall be approved by the Legislature
before issuance. The South Dakota Board of Education must approve the issuance of additional
bonds, notes, or other obligations prior to submission to the Legislature in accordance with §§ 1-16A-93 and 1-16A-94 and applicable administrative rules. This requirement, however, does not
apply to the issuance of bonds for the purposes of refinancing or refunding existing bonds, notes, or
other obligations. ".
" Section 2. The total principal amount of debt outstanding through the South Dakota Building
Authority and the vocational education program of the South Dakota Health and Educational
Facilities Authority may not exceed one and two-tenths percent of South Dakota's gross domestic
product for the most recently completed calendar year as calculated by the United States Bureau of
Economic Analysis.
Section 3. The total annual debt service payments of the South Dakota Building Authority and
the vocational education program of the South Dakota Health and Educational Facilities Authority
may not exceed four percent of the total ongoing general fund receipts for the most recently
completed state fiscal year.".