<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 1-16H-15 - Powers and duties of authority.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s351244ea70824bdbb10f007c7b1aaae8Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s351244ea70824bdbb10f007c7b1aaae8SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s351244ea70824bdbb10f007c7b1aaae8CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s351244ea70824bdbb10f007c7b1aaae8Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 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font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s351244ea70824bdbb10f007c7b1aaae8SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 1-16H-15 - Powers and duties of authority."><meta property="og:description" content="SDLRC Codified Law 1-16H-15 - Powers and duties of authority."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=1-16H-15"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8Normal"><a href="https://sdlegislature.gov/Statutes?Statute=1-16H-15" rel="noopener"><span class="s351244ea70824bdbb10f007c7b1aaae8SENU">1-16H-15</span></a><span xml:space="preserve" class="s351244ea70824bdbb10f007c7b1aaae8SENU">. </span><span class="s351244ea70824bdbb10f007c7b1aaae8CL">Powers and duties of authority.</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8Statute"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">The authority may:</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(1)    Have perpetual succession as a body politic and corporate exercising essential public functions;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(2)    Sue and be sued in its own name;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(3)    Have an official seal and alter the seal at will;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(4)    Maintain an office at such places within the state as the authority may designate;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(5)    Make and execute contracts and all other instruments necessary or convenient for the performance of its duties and the exercise of its powers and functions under this chapter;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(6)    Employ fiscal consultants, engineers, attorneys, and such other consultants and employees as may be required and contract with agencies of the state to provide staff and support services;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(7)    Procure insurance against any loss in connection with its property and other assets, including loans and notes in such amounts and from such insurers as it may deem advisable;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(8)    Borrow money and issue bonds as provided by this chapter;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(9)    Procure insurance, letters of credit, guarantees, or other credit enhancement arrangements from any public or private entities, including any department, agency, or instrumentality of the United States or the state, for payment of all or any portion of any bonds issued by the authority, including the power to pay premiums, fees, or other charges on any such insurance, letters of credit, guarantees, or credit arrangements;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(10)    Receive and accept from any source financial aid or contributions of moneys, property, labor, or other things of value to be held, used, and applied to carry out the purposes of this chapter subject to the conditions upon which the grants or contributions are made, including, gifts or grants from any department, agency, or instrumentality of the United States for any purpose consistent with the provisions of this chapter;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(11)    Provide technical assistance to local public bodies and to profit and nonprofit entities to foster and facilitate scientific and technological investigation, experimentation, and development;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(12)    Collaborate with Black Hills State University and the South Dakota School of Mines and Technology to provide educational and outreach opportunities;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(13)    To the extent permitted under its contract with the holders of bonds of the authority, consent to any modification with respect to the rate of interest, time, and payment of any installment of principal or interest, or any other term of any contract, loan, loan note, loan note commitment, contract, lease, or agreement of any kind to which the authority is a party;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(14)    To make loans and grants to, and enter into financing agreements with, any governmental agency or any person for the costs incurred in connection with the development, construction, acquisition, improvement, maintenance, operation, or decommissioning of a project, or for the maintenance of the physical or structural integrity of real or personal property incorporated or which may be incorporated into a project, in accordance with a written agreement between the authority and such governmental agency or person. However, no such loan or grant may exceed the total cost of such project as determined by the governmental agency or person and approved by the authority;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(15)    Cooperate with and exchange services, personnel, and information with any governmental agency;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(16)    Enter into agreements for management on behalf of the authority of any of its properties upon such terms and conditions as may be mutually agreeable;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(17)    Sell, exchange, lease, donate, and convey any of its properties whenever the authority finds such action to be in furtherance of the purposes for which it was organized;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(18)    Acquire, hold, lease, and dispose of real and personal property, and construct, develop, maintain, operate, and decommission projects for the purposes for which the authority was created;</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(19)    Indemnify any person or governmental agency for such reasonable risks as the authority deems advisable if the indemnification is a condition of a grant, gift, or donation to the authority. However, any such obligation to indemnify may only be paid from insurance or from revenues of the authority, and such obligation does not constitute a debt or obligation of the State of South Dakota; and</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8StatuteNumber1"><span class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont">(20)    Do any act and execute any instrument which in the authority's judgment is necessary or convenient to the exercise of the powers granted by this chapter or reasonably implied from it.</span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8Normal"><span xml:space="preserve" class="s351244ea70824bdbb10f007c7b1aaae8000000"> </span></p><p dir="ltr" class="s351244ea70824bdbb10f007c7b1aaae8NoIndent"><span xml:space="preserve" class="s351244ea70824bdbb10f007c7b1aaae8DefaultParagraphFont-000001">Source: </span><span class="s351244ea70824bdbb10f007c7b1aaae8SCL">SL 2004, ch 15, § 15; SL 2023, ch 4, § 2.</span></p></div></body></html>