SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY
Declaration of necessity for development authority.
Powers necessary for development authority.
Declaration of public purposes and public interest.
Definition of terms.
Developments and projects subject to chapter.
Sponsors eligible under chapter.
Costs covered by chapter.
Development authority established--Administrator of federal housing
Reporting to Governor's Office of Economic Development.
Appointment of commissioners--Political affiliations.
State officers and employees eligible as commissioners.
Corporate officers and employees eligible as commissioners--Abstention
on conflict of interests.
Terms of office of commissioners--Vacancy--Restrictions on
Surety bonds of commissioners and executive director--Blanket bond--Payment of cost.
Removal of commissioner from office.
Officers of commissioners.
Meetings of commissioners--Quorum--Majority required for action.
Compensation of commissioners.
Executive director--Appointment and duties--Other personnel.
Benefits of state employees provided.
Records maintained by secretary--Certified copies--Publication of
Powers of local commissions conferred upon authority--Approval by local
governing body required--Cooperation with local commissions.
Power to carry out chapter.
Power to sue and be sued--Seal--Perpetual succession--Office.
Consolidation of processing for developments and projects.
Policy favoring private business firms.
Bylaws, rules, and regulations.
Research and development.
Advice and technical assistance to developments, projects and residents.
Cooperation with federal and other governmental agencies.
Execution of necessary instruments.
Acceptance of legislative appropriations--Purposes to which applied.
Annual informational budget required--Inclusion in Governor's budget
Acceptance of grants and contributions--Purposes to which applied.
Residual powers of authority.
Power to borrow and issue evidence of indebtedness.
Financing, reserves, and incidental costs included in amounts borrowed.
Issuance of notes and bonds--Purposes for which used.
Qualified private activity bonds--Maximum aggregate principal amount.
Authority as state issuing agency and housing credit agency.
Compliance with federal conditions for qualified mortgage bonds.
Public debt not created by authority obligations--Statement on face of
Refunding of notes and bonds.
Consent of other public agencies not required for bonds or notes--Procedural requirements of other laws not applicable.
Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.
Notes and bonds as general obligations of authority--Exception.
Bond resolution provisions--Contracts with bondholders.
to 11-11-64. Repealed.
Trust indenture to secure bonds--Contents--Expenses of trust indenture--Separate trustee not authorized.
Pledge binding when made--Attachment of lien.
Continuing validity of signatures by commissioners or officers.
Purpose of capital reserve fund requirements.
Establishment of capital reserve funds--Moneys paid into funds.
Amount required in capital reserve fund for each year.
Valuation of securities held by capital reserve funds.
Transfer to other funds of capital reserve fund income.
Purposes to which moneys in reserve funds applied--Maintenance of
Deposit in reserve fund of bond proceeds necessary to maintain required
Annual budget estimate for restoration of capital reserve fund--Governor's
budget--Deposit of appropriated funds.
Other funds created by authority.
Purchase of authority's own bonds--Cancellation--Resale.
Price of bonds repurchased for cancellation.
Refunding obligations authorized--Application of provisions applicable to
Sale or exchange of refunding obligations--Investment of proceeds
pending redemption of original obligations.
Compliance with certain other state laws not required.
Appointment of trustee by bondholders after authority default.
Enforcement of bondholders' rights.
to 11-11-90. Repealed.
Circuit court jurisdiction of proceedings by trustee.
State pledge to bondholders.
Commissioners and executive director not personally liable.
Negotiability of bonds.
Securities regulation--Bonds treated as securities of state instrumentality.
Bonds as legal investments for financial institutions and fiduciaries.
Authority may contract to manage payment or interest rate risk for bonds.
Investment of authority funds.
Acquisition and disposition of property.
Exemption of authority from taxes, recording fees and transfer taxes.
to 11-11-108. Repealed.
to 11-11-112. Repealed.
Confidentiality of applications and financial information.
Applications--Signatures and certification required--Perjury.
Construction to be substantially completed, or final insurance or guarantee
certificate issued before loan disbursed.
Additional lending powers of authority.
Purchase of mortgages from mortgage lenders.
Purchase of securities from mortgage lenders.
Loans to mortgage lenders for new residential mortgages.
Requirements for transactions with mortgage lenders.
Eligibility of obligations purchased from mortgage lenders for purchase or
to 11-11-133. Repealed.
Purchase of federally insured housing mortgages.
Sale or transfer of mortgage loan or obligation.
Court actions to enforce loans or protect the public interest--Foreclosure.
Receiver appointed to safeguard authority's loan.
Reorganization of housing sponsor subject to control by authority.
Notice to authority before sale of real property on judgment against
housing sponsor--Protective steps taken by authority.
Promulgation of rules regarding borrowers, admission of occupants, and
ancillary commercial facilities.
, 11-11-143. Repealed.
Provisions governing loans and other financing to sponsors of multifamily
units and day-care facilities.
to 11-11-147. Repealed.
Loans restricted to sponsors meeting statutory definition.
Amount and amortization period of FHA loans.
Amount and amortization of non-FHA loans.
Terms and form of loans or other financing--Investment in multifamily
residential housing projects and day-care facilities.
Interest rates on which loans made--Additional charges.
Surety bonds and other assurances of payment and performance.
to 11-11-160. Repealed.
Conditions of mortgage loan or other financing.
Supervision of multifamily residential housing units and day-care
to 11-11-166. Repealed.
, 11-11-169. Repealed.
to 11-11-178. Repealed.
Retirement and redemption of investments in sponsor of multifamily units
and day-care facilities.
General power to make rules and regulations.
Annual report by authority to Governor and Legislature.
Annual audit of authority.
Chapter cumulative and supplemental to other laws.
Chapter controlling over other laws.
Citation of chapter.
to 11-11-188. Repealed.
Get Chapter 11-11