<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 13-16-6.1 - Bidders on installment purchases or lease-purchase agreement to state interest rate and installment schedule. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2041796Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2041796SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2041796CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2041796Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2041796DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2041796000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2041796SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2041796SCL-000002 { 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></head><body><div><p dir="ltr" class="s2041796Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=13-16-6.1"><span class="s2041796SENU">13-16-6.1</span></a><span xml:space="preserve" class="s2041796SENU">. </span><span class="s2041796CL">Bidders on installment purchases or lease-purchase agreement to state interest rate and installment schedule.</span></p><p dir="ltr" class="s2041796Normal-000000"><span xml:space="preserve" class="s2041796DefaultParagraphFont">Notwithstanding the provisions of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-18A"><span class="s2041796DefaultParagraphFont">5-18A</span></a><span xml:space="preserve" class="s2041796DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=13-20"><span class="s2041796DefaultParagraphFont">13-20</span></a><span xml:space="preserve" class="s2041796DefaultParagraphFont">, if any proposed installment purchase contract or lease-purchase agreement authorized under chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=13-16"><span class="s2041796DefaultParagraphFont">13-16</span></a><span class="s2041796DefaultParagraphFont">, is to be entered into by a school district, the notice for bidders shall require the bidders to state the rate of interest and the installment payment or lease-purchase schedule that would have to be made by the school district in fulfillment of the contract. However, the requirement of this section does not apply to any installment purchase or lease-purchase to be entered into between a school district and the health and educational facilities authority.</span></p><p dir="ltr" class="s2041796Normal"><span xml:space="preserve" class="s2041796000001"> </span></p><p dir="ltr" class="s2041796Normal"><span class="s2041796SCL">Source:</span><span xml:space="preserve" class="s2041796SCL-000002"> SL 1973, ch 91, § 3; SL 1978, ch 109, § 2; SL 1989, ch 146, § 4; SL 2011, ch 2, § 122.</span></p></div></body></html>