§ 5-12-1 Authority created–Composition–Initial terms–Political affiliation–Chairman
§ 5-12-1.1 Authority continued within Bureau of Finance and Management–Records and reports
§ 5-12-1.2 Meaning of United States Department of Agriculture Conservation Reserve Program
§ 5-12-2 Terms of members–Vacancies–Quorum
§ 5-12-3 Oath and bond of members
§ 5-12-4 Members receive no compensation–Reimbursement of expenses
§ 5-12-5 Employment of personnel
§ 5-12-6 Common seal of authority
§ 5-12-7 Purposes of authority
§ 5-12-8 Studies and investigations of land needs
§ 5-12-10 Transfer of state property to authority
§ 5-12-11 Power of authority to acquire property–Methods of acquisition
§ 5-12-11.1 Standards and specifications to accommodate persons with disabilities
§ 5-12-12 Plans and specifications for projects to be undertaken
§ 5-12-13 Lease of facilities and sites to state agencies authorized–Commencement of payments under lease
§ 5-12-14 Terms, conditions, and rental under leases–Annual extension provision
§ 5-12-15 Lessee’s option to purchase–Conveyance on exercise of option
§ 5-12-16 Taxes and insurance added to rental properties–Authorization to self-insure
§ 5-12-17 Authority’s power to use facilities for other purposes on nonpayment of rent–Appropriations and funds from which rent payable
§ 5-12-18 Costs and reserves to be covered by rent and charges
§ 5-12-19 Tax exemption of property owned or leased by authority–Exception
§ 5-12-20 Resolutions for revenue bonds authorized–Purpose–Legislative approval required
§ 5-12-21 Purposes for which bonds issued–Refunding and refinancing–Pledge of income
§ 5-12-22 Terms and interest rate of bonds
§ 5-12-23 Revenues and income from which bonds payable–Use of educational facilities fund–Disposition of revenues
§ 5-12-24 Execution and registration of bonds–Validity of signature by officers
§ 5-12-25 Restrictions on obligation stated on face of bonds
§ 5-12-26 Creation of state obligation not authorized
§ 5-12-27 Contract with bondholders–Bondholders’ remedies
§ 5-12-27.1 Refunding bonds authorized–Purposes
§ 5-12-27.2 Amount of refunding bonds
§ 5-12-27.3 Exchange or sale of refunding bonds–Proceeds of sale–Cancellation of bonds and coupons–Evidence of discharge of interest obligation
§ 5-12-27.4 Exchange or sale of bonds–Disposition of proceeds of sale
§ 5-12-27.5 Assistance in conserving and improving soil and water resources of highly erodible cropland by means of loans–Revenue bonds and interim notes authorized
§ 5-12-27.6 No indebtedness to be charged against state
§ 5-12-27.7 Acceptance and expenditure of gifts, contributions, etc., authorized
§ 5-12-27.8 Lease and sublease agreements with South Dakota Building Authority authorized to support purpose and payment of revenue bonds or interim notes
§ 5-12-28 Interim notes authorized–Purposes of borrowing
§ 5-12-29 Resolution for issuance of interim notes–Interest rate–Maturity date
§ 5-12-30 Terms and registration of interim notes–Redemption prior to maturity–Execution of notes–Pledge of income and revenue
§ 5-12-31 Additional provisions to secure payment of interim notes
§ 5-12-32 Debt limitations not applicable to interim notes–Personal liability not created by execution of notes
§ 5-12-33 Payment of interim notes or purchase of government obligations with proceeds from sale of revenue bonds
§ 5-12-34 Disposition of income under chapter–Public building fund
§ 5-12-35 Accounts maintained by authority–Purpose of disbursements from public building fund
§ 5-12-36 Authority to convey property to state when debt paid or payment provided for–Reversion to authority
§ 5-12-37 Record of rental payments under lease–Conveyance to lessee after amortization of debt
§ 5-12-38 Annual audit
§ 5-12-38.1 Informational budget required
§ 5-12-39 Contractual power of authority
§ 5-12-40 Bylaws, rules, and regulations of authority
§ 5-12-41 Severability of provisions
§ 5-12-42 Sale and lease-back arrangements–Sales and land leases authorized–Use of proceeds
§ 5-12-43 Sale and lease-back arrangements–Contracts to acquire use or ownership authorized–Terms
§ 5-12-44 Provisions applicable to contracts to acquire use or ownership
§ 5-12-45 Revenue bonds to finance sale and lease-back arrangements–Lending proceeds–Refund or refinance of obligations
§ 5-12-46 Legislative approval required for sale and lease-back arrangements
§ 5-12-47 Revenue obligations–Issuance–Purpose–Funds for payment
§ 5-12-47.1 Payment of lease rental obligations to South Dakota Building Authority by Bureau of Finance and Management
§ 5-12-47.2 Irrevocable escrow agreement for defeasance and payment of lease revenue trust certificates and bonds–Arrangements to pay governmental expenses
§ 5-12-48 Definition of terms
§ 5-12-48.1 Authority may invest funds in certain permitted investments
§ 5-12-49 Transfer and sale of state’s right to tobacco settlement revenues–Disposition of funds–Written agreement–Filing of agreement
§ 5-12-50 Establishment of special purpose corporation–Limitations–Board membership–Powers of corporation
§ 5-12-50.1 Bond transactions to be public records subject to disclosure
§ 5-12-51 Purposes of special purpose corporation
§ 5-12-52 Bonds of corporation not a lien, charge or liability against the state–Pledge of education enhancement trust funds prohibited
§ 5-12-53 Pledge of non-interference by state to impair terms of bonds–Liability of state on bonds
§ 5-12-54 Liability of authority and special purpose corporation
§ 5-12-55 Special purpose corporation treated as public instrumentality of state–Income of authority and corporation not taxed–Obligations of corporation deemed public securities
§ 5-12-56 Employees of special purpose corporation
§ 5-12-59 State pledge to honor agreements of authority or corporation with regard to certain federal income tax exclusions
§ 5-12-61 Authority may contract to manage payment or interest rate risk for bonds
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Terms Used In South Dakota Codified Laws > Title 5 > Chapter 12 - South Dakota Building Authority

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Oath: A promise to tell the truth.
  • Oath: includes affirmation. See South Dakota Codified Laws 2-14-2
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • Seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper, and also the word "seal" written or printed on such paper. See South Dakota Codified Laws 2-14-2
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • 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