South Dakota Codified Laws 1-33B-12. Continuance of contract–Payments
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If the governmental unit reasonably believes that legally available funds of an amount sufficient to make all contractual payments during the original term and each of the renewal terms can be obtained either through projected operational or energy savings, or both, or a performance bond guaranteeing such savings, the governmental entity shall continue the contract through the original term and all of the renewal terms and pay the contracted payments.
Terms Used In South Dakota Codified Laws 1-33B-12
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1992, ch 14, § 12.