<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 7-25-19 - Sale and lease-back arrangements--Disposition of sale proceeds--Tax exemption. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2035716Normal { 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.s2035716SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2035716CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2035716CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2035716Normal-000001 { 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.s2035716DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2035716DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2035716000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2035716SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2035716SCL-000004 { 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="s2035716Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=7-25-19"><span class="s2035716SENU">7-25-19</span></a><span xml:space="preserve" class="s2035716SENU">. </span><span class="s2035716CL">Sale and lease</span><span class="s2035716CL-000000">-</span><span class="s2035716CL">back arrangements--Disposition of sale proceeds--Tax exemption.</span></p><p dir="ltr" class="s2035716Normal-000001"><span xml:space="preserve" class="s2035716DefaultParagraphFont">The board of county commissioners of any county may by resolution exercise all the powers conferred on the South Dakota Building Authority pursuant to and in the manner provided by §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-12-15"><span class="s2035716DefaultParagraphFont">5-12-15</span></a><span xml:space="preserve" class="s2035716DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-12-19"><span class="s2035716DefaultParagraphFont">5-12-19</span></a><span xml:space="preserve" class="s2035716DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-12-42"><span class="s2035716DefaultParagraphFont">5-12-42</span></a><span xml:space="preserve" class="s2035716DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-12-45"><span class="s2035716DefaultParagraphFont">5-12-45</span></a><span class="s2035716DefaultParagraphFont">, inclusive, with respect to the acquisition, lease, sale and lease</span><span class="s2035716DefaultParagraphFont-000002">-</span><span xml:space="preserve" class="s2035716DefaultParagraphFont">back of land, improvements, and capital equipment to be used for any lawful purpose, except that the proceeds of sale of any such facility are subject to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=6-13-8"><span class="s2035716DefaultParagraphFont">6-13-8</span></a><span class="s2035716DefaultParagraphFont">. All land, improvements and capital equipment owned or being leased or acquired by the county pursuant to a lease having a fixed term plus renewal options exceeding three years or a lease</span><span class="s2035716DefaultParagraphFont-000002">-</span><span class="s2035716DefaultParagraphFont">purchase or installment purchase contract shall constitute a separate class of property which is exempt from all taxation.</span></p><p dir="ltr" class="s2035716Normal"><span xml:space="preserve" class="s2035716000003"> </span></p><p dir="ltr" class="s2035716Normal"><span class="s2035716SCL">Source:</span><span xml:space="preserve" class="s2035716SCL-000004"> SL 1984, ch 48, § 1; SL 1987, ch 185, § 3; SL 1989, ch 30, § 14.</span></p></div></body></html>