49-16C-1      Railroad trust fund--Creation--Expenditure.
49-16C-2      Transfer of money to railroad authority fund.
49-16C-3      Loans to regional railroad authorities--Procedure.
49-16C-4      Interest and fees on loans to regional authorities.
49-16C-5      Expenditures to match federal funds.
49-16C-6      Expenditure to join other states in preserving certain railroad.
49-16C-7      Continuous appropriation of fund.
49-16C-8      Purchase of rolling stock or operation of railroad not authorized.

49-16C-1. Railroad trust fund--Creation--Expenditure.

For the purposes of planning, enlarging, maintaining, equipping, and protecting railroads and railroad facilities, there is hereby created a special fund within the state treasury known as the railroad trust fund. All moneys in the fund, except as otherwise provided in this chapter, shall be expended in accordance with the provisions of chapter 4-7, chapter 4-8, chapter 4-8A, and chapter 4-8B.

Source: SL 1981, ch 100, § 3.

49-16C-2. Transfer of money to railroad authority fund.

Upon approval of a proposed expenditure as provided for in § 49-16B-13.1, the Governor shall order the approved amount of money transferred from the railroad trust fund to the railroad authority fund.

Source: SL 1981, ch 100, § 6.

49-16C-3. Loans to regional railroad authorities--Procedure.

The South Dakota State Railroad Board may upon the written approval of the Governor make loans from the railroad trust fund to regional railroad authorities upon such terms and conditions as the State Railroad Board may determine. The South Dakota State Railroad Board shall adopt rules, pursuant to chapter 1-26 establishing the procedures for loan application and approval.

Source: SL 1981, ch 100, § 7.

49-16C-4. Interest and fees on loans to regional authorities.

The South Dakota State Railroad Board may set from time to time the interest rates at which it shall make the loans provided for in § 49-16C-3. In addition to such interest charges, the board may make and collect such costs, fees, and other charges as the board may deem necessary.

Source: SL 1981, ch 100, § 8.

49-16C-5. Expenditures to match federal funds.

The South Dakota State Railroad Board may, with the approval of the Governor, expend funds from the railroad trust fund to match federal railroad rehabilitation funds.

Source: SL 1981, ch 100, § 9.

49-16C-6. Expenditure to join other states in preserving certain railroad.

The South Dakota State Railroad Board may, upon approval of the Governor, expend from the railroad trust fund an amount not to exceed one million dollars to join with other states to preserve the railroad line extending from Jonathan, Minnesota, in a westerly direction through South Dakota to Miles City, Montana.

Source: SL 1981, ch 100, § 10.

49-16C-7. Continuous appropriation of fund.

Any funds in the railroad trust fund designated for expenditure by any of the provisions of § 49-16B-13.1, 49-16C-2, 49-16C-3, 49-16C-5, or 49-16C-6 are hereby continuously appropriated for such purposes.

Source: SL 1981, ch 100, § 10A.

49-16C-8. Purchase of rolling stock or operation of railroad not authorized.

Provisions of this chapter do not constitute permission to purchase railroad rolling stock or to operate any railroad.

Source: SL 1981, ch 100, § 11.