South Dakota Codified Laws > Title 9 > Chapter 54 – Economic Development Projects


§ 9-54-1	Purpose of chapter
§ 9-54-2	Power to issue bonds, acquire or construct projects and enter revenue agreements–Location of projects
§ 9-54-2.1	Power to issue revenue bonds, purchase or discharge debt of nonprofit corporation operating health care or housing facility and enter revenue agreements–Location of project
§ 9-54-2.2	Restriction on use of bonds for elderly housing projects
§ 9-54-3	“Revenue bonds” defined
§ 9-54-3.1	“Revenue agreement” defined
§ 9-54-4	Costs to be covered by bonds–Authorization, issuance and sale of bonds
§ 9-54-5	Amount of bond issue limited by costs
§ 9-54-6	Bonds not general obligations nor payable by taxation–Recitals in bonds
§ 9-54-7	Mortgage of project and pledge of revenues to payment of bonds–Trust funds–Other covenants and agreements
§ 9-54-8	Lease or sale payments sufficient to pay bonds and costs–Payments in lieu of property taxes
§ 9-54-8.1	Lease with option to purchase–Title acquired before bonds retired–Pledge for payment of bonds
§ 9-54-9	Municipal obligations restricted by contractual payments from facilities
§ 9-54-10	County and sanitary district powers
§ 9-54-11	Municipal joint or cooperative agreements
§ 9-54-12	Compliance with federal requirements for tax exemption

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Contract: A legal written agreement that becomes binding when signed.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
ordinance: as used in this title shall mean a permanent legislative act of the governing body of a municipality within the limits of its powers. See South Dakota Codified Laws 9-19-1
Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Trustee: A person or institution holding and administering property in trust.
written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2