<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS 49-40 CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 49-40 CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS "> <META NAME="Description" Content="South Dakota Codified Laws 49-40"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 49-40 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-1">49-40-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Conditions under which assets may be transferred or encumbered. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-2">49-40-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Hypothecation of assets permitted. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-3">49-40-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Sale of consumers power district assets. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-3.1">49-40-3.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Sale of assets--Retroactive application. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-4">49-40-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Right of municipality to purchase portion of assets within boundaries. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-5">49-40-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Inability to agree with municipality on price--Court determination--Basis of determination. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-6">49-40-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Allocation of bonded indebtedness as between municipality and other transferee--Terms of court award. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-7">49-40-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-8">49-40-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Lease or alienation of facilities within municipality. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-9">49-40-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Petition for dissolution of district--Conditions under which dissolution may be permitted--Notice of dissolution--Contents of notice--Expenses of dissolution. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-40-10">49-40-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Court hearing and investigation respecting dissolution--Filing order of dissolution with clerk of courts and secretary of state. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070936Normal { 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.s2070936SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070936CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070936Normal-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.s2070936DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070936000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070936SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070936SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070936Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-1"><span class="s2070936SENU">49-40-1</span></a><span xml:space="preserve" class="s2070936SENU">. </span><span class="s2070936CL">Conditions under which assets may be transferred or encumbered.</span></p><p dir="ltr" class="s2070936Normal-000000"><span class="s2070936DefaultParagraphFont">No power plant or system owned by a consumers power district shall be sold, alienated or mortgaged by such district, except under the circumstances set forth in this chapter.</span></p><p dir="ltr" class="s2070936Normal"><span xml:space="preserve" class="s2070936000001"> </span></p><p dir="ltr" class="s2070936Normal"><span class="s2070936SCL">Source:</span><span xml:space="preserve" class="s2070936SCL-000002"> SL 1950 (SS), ch 17, § 59; SDC Supp 1960, § 52.1758.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070937Normal { 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.s2070937SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070937CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070937Normal-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.s2070937DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070937000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070937SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070937SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070937Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-2"><span class="s2070937SENU">49-40-2</span></a><span xml:space="preserve" class="s2070937SENU">. </span><span class="s2070937CL">Hypothecation of assets permitted.</span></p><p dir="ltr" class="s2070937Normal-000000"><span class="s2070937DefaultParagraphFont">If, in order to borrow money, it shall become necessary that a consumers power district mortgage, or otherwise hypothecate, any of its said property or assets to secure the payment of a loan or loans made to it, such district is hereby authorized and empowered to do so.</span></p><p dir="ltr" class="s2070937Normal"><span xml:space="preserve" class="s2070937000001"> </span></p><p dir="ltr" class="s2070937Normal"><span class="s2070937SCL">Source:</span><span xml:space="preserve" class="s2070937SCL-000002"> SL 1950 (SS), ch 17, § 59; SDC Supp 1960, § 52.1758; SL 1975, ch 288.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070938Normal { 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.s2070938SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070938CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070938Normal-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.s2070938DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070938000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070938SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070938SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070938Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-3"><span class="s2070938SENU">49-40-3</span></a><span xml:space="preserve" class="s2070938SENU">. </span><span class="s2070938CL">Sale of consumers power district assets.</span></p><p dir="ltr" class="s2070938Normal-000000"><span class="s2070938DefaultParagraphFont">Any consumers power district may sell any power plant, electric generating plant, electric transmission, or distribution system, or any part thereof, for any sum and upon any terms that the board of directors of the district may consider fair and reasonable.</span></p><p dir="ltr" class="s2070938Normal"><span xml:space="preserve" class="s2070938000001"> </span></p><p dir="ltr" class="s2070938Normal"><span class="s2070938SCL">Source:</span><span xml:space="preserve" class="s2070938SCL-000002"> SL 1950 (SS), ch 17, § 64; SDC Supp 1960, § 52.1763; SL 1983, ch 347, § 1; SL 2017, ch 198, § 1.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070939Normal { 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.s2070939SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070939CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070939Normal-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.s2070939DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070939000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070939SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070939SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070939Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-3.1"><span class="s2070939SENU">49-40-3.1</span></a><span xml:space="preserve" class="s2070939SENU">. </span><span class="s2070939CL">Sale of assets--Retroactive application.</span></p><p dir="ltr" class="s2070939Normal-000000"><span xml:space="preserve" class="s2070939DefaultParagraphFont">Section </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-3"><span class="s2070939DefaultParagraphFont">49-40-3</span></a><span xml:space="preserve" class="s2070939DefaultParagraphFont"> is retroactive and is effective as to any resolution or agreement adopted by any consumers power district.</span></p><p dir="ltr" class="s2070939Normal"><span xml:space="preserve" class="s2070939000001"> </span></p><p dir="ltr" class="s2070939Normal"><span class="s2070939SCL">Source:</span><span xml:space="preserve" class="s2070939SCL-000002"> SL 1983, ch 347, § 2.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070940Normal { 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.s2070940SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070940CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070940Normal-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.s2070940DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070940000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070940SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070940SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070940Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-4"><span class="s2070940SENU">49-40-4</span></a><span xml:space="preserve" class="s2070940SENU">. </span><span class="s2070940CL">Right of municipality to purchase portion of assets within boundaries.</span></p><p dir="ltr" class="s2070940Normal-000000"><span xml:space="preserve" class="s2070940DefaultParagraphFont">Whenever any consumers district shall, as provided in chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-35"><span class="s2070940DefaultParagraphFont">49-35</span></a><span xml:space="preserve" class="s2070940DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40"><span class="s2070940DefaultParagraphFont">49-40</span></a><span class="s2070940DefaultParagraphFont">, inclusive, acquire, by purchase, lease or otherwise, any electric distribution system, or any part or parts thereof, situated within or partly within any municipality, if any part of such system be within such municipality, such acquisition shall be upon the condition that such municipality may purchase, and such district shall be required to sell to such municipality such electric distribution system, situated within or partly within such municipality, but not within the corporate limits of any other municipality, by paying to such district such sum as is fair and reasonable, including reasonable severance damages.</span></p><p dir="ltr" class="s2070940Normal"><span xml:space="preserve" class="s2070940000001"> </span></p><p dir="ltr" class="s2070940Normal"><span class="s2070940SCL">Source:</span><span xml:space="preserve" class="s2070940SCL-000002"> SL 1950 (SS), ch 17, § 65; SDC Supp 1960, § 52.1764.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070941Normal { 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.s2070941SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070941CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070941Normal-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.s2070941DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070941000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070941SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070941SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070941Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-5"><span class="s2070941SENU">49-40-5</span></a><span xml:space="preserve" class="s2070941SENU">. </span><span class="s2070941CL">Inability to agree with municipality on price--Court determination--Basis of determination.</span></p><p dir="ltr" class="s2070941Normal-000000"><span xml:space="preserve" class="s2070941DefaultParagraphFont">If any municipality and consumers power district shall fail to agree upon a price and terms for the sale of property to such municipality pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-4"><span class="s2070941DefaultParagraphFont">49-40-4</span></a><span xml:space="preserve" class="s2070941DefaultParagraphFont"> the procedure for determining such price and terms of sale, and for compelling such sale shall be the same as is provided by chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-35"><span class="s2070941DefaultParagraphFont">21-35</span></a><span class="s2070941DefaultParagraphFont">. In determining the amount of severance damages, the court shall take into account, together with other relevant factors, the economic effect, if any, caused by the severance therefrom of the part taken upon the system as a going concern as it will be and remain after the severance.</span></p><p dir="ltr" class="s2070941Normal"><span xml:space="preserve" class="s2070941000001"> </span></p><p dir="ltr" class="s2070941Normal"><span class="s2070941SCL">Source:</span><span xml:space="preserve" class="s2070941SCL-000002"> SL 1950 (SS), ch 17, § 65; SDC Supp 1960, § 52.1764.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070942Normal { 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.s2070942SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070942CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070942Normal-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.s2070942DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070942000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070942SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070942SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070942Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-6"><span class="s2070942SENU">49-40-6</span></a><span xml:space="preserve" class="s2070942SENU">. </span><span class="s2070942CL">Allocation of bonded indebtedness as between municipality and other transferee--Terms of court award.</span></p><p dir="ltr" class="s2070942Normal-000000"><span xml:space="preserve" class="s2070942DefaultParagraphFont">When the sum that is fair and reasonable shall have been determined as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-5"><span class="s2070942DefaultParagraphFont">49-40-5</span></a><span class="s2070942DefaultParagraphFont">, the court shall deduct therefrom and allow as a credit upon such sum an amount that bears the same proportion to such sum as the amount of the bonds that have been paid, redeemed or liquidated, and the reserves established therefor by said district, out of the earnings from the operation of the district while such municipality was within and a part of such district, bears to the total amount of the bonded indebtedness of such district issued to finance the purchase price and the cost of construction of the entire property of such district. In entering its award the court shall show how much of the total thereof was allowed for the physical property taken and how much was allowed for other values and damages, if any.</span></p><p dir="ltr" class="s2070942Normal"><span xml:space="preserve" class="s2070942000001"> </span></p><p dir="ltr" class="s2070942Normal"><span class="s2070942SCL">Source:</span><span xml:space="preserve" class="s2070942SCL-000002"> SL 1950 (SS), ch 17, § 65; SDC Supp 1960, § 52.1764.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS 49-40-7 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 49-40-7 "> <META NAME="Description" Content="South Dakota Codified Laws 49-40-7"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 49-40-7. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 2017, ch 198, &#167;&nbsp;2.<p> </BODY> </HTML> <br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070944Normal { 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.s2070944SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070944CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070944Normal-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.s2070944DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070944000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070944SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070944SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070944Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-8"><span class="s2070944SENU">49-40-8</span></a><span xml:space="preserve" class="s2070944SENU">. </span><span class="s2070944CL">Lease or alienation of facilities within municipality.</span></p><p dir="ltr" class="s2070944Normal-000000"><span xml:space="preserve" class="s2070944DefaultParagraphFont">If a consumers power district is comprised of territory wholly within the corporate limits of a first or second class municipality then the district shall have power to lease or alienate the franchises, plant or physical equipment of the district to any private person, firm, association or corporation in accordance with the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-39-37"><span class="s2070944DefaultParagraphFont">9-39-37</span></a><span xml:space="preserve" class="s2070944DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-39-38"><span class="s2070944DefaultParagraphFont">9-39-38</span></a><span class="s2070944DefaultParagraphFont">.</span></p><p dir="ltr" class="s2070944Normal"><span xml:space="preserve" class="s2070944000001"> </span></p><p dir="ltr" class="s2070944Normal"><span class="s2070944SCL">Source:</span><span xml:space="preserve" class="s2070944SCL-000002"> SL 1950 (SS), ch 17, § 69; SDC Supp 1960, § 52.1768; SL 1992, ch 60, § 2; SL 2017, ch 198, § 3.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070945Normal { 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.s2070945SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070945CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070945Normal-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.s2070945DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070945DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070945000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070945SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070945SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2070945Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-9"><span class="s2070945SENU">49-40-9</span></a><span xml:space="preserve" class="s2070945SENU">. </span><span class="s2070945CL">Petition for dissolution of district--Conditions under which dissolution may be permitted--Notice of dissolution--Contents of notice--Expenses of dissolution.</span></p><p dir="ltr" class="s2070945Normal-000000"><span class="s2070945DefaultParagraphFont">Whenever a petition signed by a majority of the members of the board of directors or by twenty</span><span class="s2070945DefaultParagraphFont-000001">-</span><span xml:space="preserve" class="s2070945DefaultParagraphFont">five or more qualified voters of the state residing within the territorial boundaries of any district organized under and by virtue of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-35"><span class="s2070945DefaultParagraphFont">49-35</span></a><span class="s2070945DefaultParagraphFont">, shall be presented to the circuit court for the county where the principal place of business of the district is located, praying for the dissolution of such district, and it shall appear from the petition that such district has no property of any kind, owes no debts of any kind, that the district is not functioning, has ceased to function, and probably will not function in the future, the court shall forthwith publish a notice for two successive weeks in a legal newspaper of general circulation published in the district, or, if no legal newspaper is published in the district, then in any legal newspaper having general circulation therein, setting forth, in substance and in a clear and concise manner, the nature and prayer of the petition, and setting a time and place for a public hearing by the court upon the petition. The persons filing such petition for dissolution shall advance and pay the necessary expenses incurred.</span></p><p dir="ltr" class="s2070945Normal"><span xml:space="preserve" class="s2070945000002"> </span></p><p dir="ltr" class="s2070945Normal"><span class="s2070945SCL">Source:</span><span xml:space="preserve" class="s2070945SCL-000003"> SL 1950 (SS), ch 17, § 77; SDC Supp 1960, § 52.1776.</span></p></div></body></html><br /><hr><br /><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 49-40 - CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2070946Normal { 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.s2070946SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070946CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2070946Normal-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.s2070946DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070946000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2070946SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2070946SCL-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="s2070946Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-10"><span class="s2070946SENU">49-40-10</span></a><span xml:space="preserve" class="s2070946SENU">. </span><span class="s2070946CL">Court hearing and investigation respecting dissolution--Filing order of dissolution with clerk of courts and secretary of state.</span></p><p dir="ltr" class="s2070946Normal-000000"><span xml:space="preserve" class="s2070946DefaultParagraphFont">After such hearing and such independent investigation as may be deemed advisable, the court shall grant or reject the prayer of a petition filed pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-40-9"><span class="s2070946DefaultParagraphFont">49-40-9</span></a><span class="s2070946DefaultParagraphFont">, and, if the prayer of the petition is granted, the court shall thereupon issue its order declaring the district dissolved and terminated. The order of court shall thereupon be filed in the office of the clerk of courts of the county in which the petition for dissolution is filed, and a certified copy of such order shall immediately be filed in the Office of the Secretary of State, and a certified copy shall be filed in the office of the clerk of courts of each county into which any part of the district may extend. The district shall thereupon be dissolved, and cease to exist.</span></p><p dir="ltr" class="s2070946Normal"><span xml:space="preserve" class="s2070946000001"> </span></p><p dir="ltr" class="s2070946Normal"><span class="s2070946SCL">Source:</span><span xml:space="preserve" class="s2070946SCL-000002"> SL 1950 (SS), ch 17, § 77; SDC Supp 1960, § 52.1776.</span></p></div></body></html>