CHAPTER 5-12

    SOUTH DAKOTA BUILDING AUTHORITY

5-12-1.    Authority created--Composition--Initial terms--Political affiliation--Chairman.

5-12-1.1.    Authority continued within Bureau of Finance and Management--Records and reports.

5-12-1.2.    Meaning of United States Department of Agriculture Conservation Reserve Program.

5-12-2.    Terms of members--Vacancies--Quorum.

5-12-3.    Oath and bond of members.

5-12-4.    Members receive no compensation--Reimbursement of expenses.

5-12-5.    Employment of personnel.

5-12-6.    Common seal of authority.

5-12-7.    Purposes of authority.

5-12-8.    Studies and investigations of land needs.

5-12-8.1.    Additional powers with respect to projects under § 5-12-8.

5-12-9.    Repealed.

5-12-10.    Transfer of state property to authority.

5-12-11.    Power of authority to acquire property--Methods of acquisition.

5-12-11.1.    Standards and specifications to accommodate persons with disabilities.

5-12-12.    Plans and specifications for projects to be undertaken.

5-12-13.    Lease of facilities and sites to state agencies authorized--Commencement of payments under lease.

5-12-14.    Terms, conditions, and rental under leases--Annual extension provision.

5-12-15.    Lessee's option to purchase--Conveyance on exercise of option.

5-12-16.    Taxes and insurance added to rental properties--Authorization to self-insure.

5-12-17.    Authority's power to use facilities for other purposes on nonpayment of rent--Appropriations and funds from which rent payable.

5-12-18.    Costs and reserves to be covered by rent and charges.

5-12-19.    Tax exemption of property owned or leased by authority--Exception.

5-12-20.    Resolutions for revenue bonds authorized--Purpose--Legislative approval required.

5-12-21.    Purposes for which bonds issued--Refunding and refinancing--Pledge of income.

5-12-22.    Terms and interest rate of bonds.

5-12-23.    Revenues and income from which bonds payable--Use of educational facilities fund--Disposition of revenues.

5-12-24.    Execution and registration of bonds--Validity of signature by officers.

5-12-25.    Restrictions on obligation stated on face of bonds.

5-12-26.    Creation of state obligation not authorized.

5-12-27.    Contract with bondholders--Bondholders' remedies.

5-12-27.1.    Refunding bonds authorized--Purposes.

5-12-27.2.    Amount of refunding bonds.

5-12-27.3.    Exchange or sale of refunding bonds--Proceeds of sale--Cancellation of bonds and coupons--Evidence of discharge of interest obligation.

5-12-27.4.    Exchange or sale of bonds--Disposition of proceeds of sale.

5-12-27.5.    Assistance in conserving and improving soil and water resources of highly erodible cropland by means of loans--Revenue bonds and interim notes authorized.

5-12-27.6.    No indebtedness to be charged against state.

5-12-27.7.    Acceptance and expenditure of gifts, contributions, etc., authorized.

5-12-27.8.    Lease and sublease agreements with South Dakota Building Authority authorized to support purpose and payment of revenue bonds or interim notes.

5-12-28.    Interim notes authorized--Purposes of borrowing.

5-12-29.    Resolution for issuance of interim notes--Interest rate--Maturity date.

5-12-30.    Terms and registration of interim notes--Redemption prior to maturity--Execution of notes--Pledge of income and revenue.

5-12-31.    Additional provisions to secure payment of interim notes.

5-12-32.    Debt limitations not applicable to interim notes--Personal liability not created by execution of notes.

5-12-33.    Payment of interim notes or purchase of government obligations with proceeds from sale of revenue bonds.

5-12-34.    Disposition of income under chapter--Public building fund.

5-12-35.    Accounts maintained by authority--Purpose of disbursements from public building fund.

5-12-36.    Authority to convey property to state when debt paid or payment provided for--Reversion to authority.

5-12-37.    Record of rental payments under lease--Conveyance to lessee after amortization of debt.

5-12-38.    Annual audit.

5-12-38.1.    Informational budget required.

5-12-39.    Contractual power of authority.

5-12-40.    Bylaws, rules, and regulations of authority.

5-12-41.    Severability of provisions.

5-12-42.    Sale and lease-back arrangements--Sales and land leases authorized--Use of proceeds.

5-12-43.    Sale and lease-back arrangements--Contracts to acquire use or ownership authorized--Terms.

5-12-44.    Provisions applicable to contracts to acquire use or ownership.

5-12-45.    Revenue bonds to finance sale and lease-back arrangements--Lending proceeds--Refund or refinance of obligations.

5-12-46.    Legislative approval required for sale and lease-back arrangements.

5-12-47.    Revenue obligations--Issuance--Purpose--Funds for payment.

5-12-47.1.    Payment of lease rental obligations to South Dakota Building Authority by Bureau of Finance and Management.

5-12-47.2.    Irrevocable escrow agreement for defeasance and payment of lease revenue trust certificates and bonds--Arrangements to pay governmental expenses.

5-12-48.    Definition of terms.

5-12-48.1.    Authority may invest funds in certain permitted investments.

5-12-49.    Transfer and sale of state's right to tobacco settlement revenues--Disposition of funds--Written agreement--Filing of agreement.

5-12-50.    Establishment of special purpose corporation--Limitations--Board membership--Powers of corporation.

5-12-50.1.    Bond transactions to be public records subject to disclosure.

5-12-51.    Purposes of special purpose corporation.

5-12-52.    Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.

5-12-53.    Pledge of non-interference by state to impair terms of bonds--Liability of state on bonds.

5-12-54.    Liability of authority and special purpose corporation.

5-12-55.    Special purpose corporation treated as public instrumentality of state--Income of authority and corporation not taxed--Obligations of corporation deemed public securities.

5-12-56.    Employees of special purpose corporation.

5-12-57, 5-12-58. Repealed.

5-12-59.    State pledge to honor agreements of authority or corporation with regard to certain federal income tax exclusions.

5-12-60.    Repealed.

5-12-61.    Authority may contract to manage payment or interest rate risk for bonds.