South Dakota Codified Laws 34A-6-38. Municipal acquisition of property–Maximum duration of contract–Shares of parties to regional or county solid waste authority
Current as of: 2023 | Check for updates
|
Other versions
Municipalities are authorized to acquire by gift, devise, lease, purchase, or eminent domain real or personal property necessary to the installation and operation of a solid waste management system either individually or as a party to a regional or county solid waste authority. A contract for the purchase or lease of such property by a municipality may be for a term not to exceed twenty years. If contracted as a party to a regional or county solid waste authority, each member’s share shall be fixed at the time of purchase with provisions for a division of proceeds upon termination of the region or the withdrawal from regional participation.
Terms Used In South Dakota Codified Laws 34A-6-38
- Contract: A legal written agreement that becomes binding when signed.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1972, ch 198, § 10; SDCL, § 34-16B-25; SL 1977, ch 280, § 30.