reglab/housing_qa huggingface dataset:
SD Codified L § 5-12-40 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-40 - .Bylaws, rules, and regulations of authority.

5-12-40. Bylaws, rules, and regulations of authority.To accomplish projects of the kind listed in this chapter, the authority may adopt all necessary bylaws, rules, and regulations for the conduct of the business and affairs of the authority, and for the management and use of facilities and sites acquired under the powers granted by this chapter. Source: SL 1967, ch 276, §5; SL 1994, ch 50, §11.
SD Codified L § 5-12-41 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-41 - .Severability of provisions.

5-12-41. Severability of provisions.If any clause or other portion of this chapter shall be held invalid, that decision shall not affect the validity of the remaining portions of this chapter. It is hereby declared that all such remaining portions of this chapter are severable, and that the Legislature would have enacted such remaining portions if the portions that may be so held to be invalid had not been included in this chapter. Source: SL 1967, ch 276, §15.
SD Codified L § 5-12-42 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-42 - .Sale and lease-back arrangements--Sales and land leases authorized--Use of proceeds.

5-12-42. Sale and lease-back arrangements--Sales and land leases authorized--Use of proceeds.Improved or unimproved land held by or transferred to the Building Authority pursuant to §5-12-10, may be leased and the improvements thereon sold to a person, partnership, association, limited liability company, or corporation. The improvements may be sold only at their fair market value as determined by the authority, but consideration for a land lease may be nominal. The authority shall obtain and consider when determining the fair market value of improvements to be sold, at least one independent appraisal. The proceeds of sale shall be paid to the Building Authority trust account and shall be applied to such purpose, if any, as may be required by the State Constitution or any contract of the state. If no specific disposition of the proceeds, including any investment income thereon, or any portion thereof is required by the Constitution or any state contract, the proceeds, including any investment income thereon, shall be used in or expended for the acquisition of land, buildings, water development, or other improvements of a capital nature as the Legislature or the special committee created in §4-8A-2 and Governor may specifically direct. Contracts of the state shall include any contract now in existence and any contract entered into in connection with any sale hereunder and the lease-back of the improvements sold pursuant to §5-12-43. Except as provided in chapters 5-6 to 5-8, inclusive, all leases and sales of land and improvements may be made without reservation of timber, mineral, or other similar rights. Source: SL 1983, ch 32, §1; SL 1989, ch 212, §2; SL 1994, ch 351, §4.
SD Codified L § 5-12-43 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-43 - .Sale and lease-back arrangements--Contracts to acquire use or ownership authorized--Terms.

5-12-43. Sale and lease-back arrangements--Contracts to acquire use or ownership authorized--Terms.The Building Authority may enter into any contract necessary to acquire the right to use or the ownership, or both, of land leased and improvements sold by it under §5-12-42, and any other improvements made upon such land, and capital equipment needed for the operation of the improvements or property to be acquired by it pursuant to §5-12-11, including lease, lease-purchase, and, subject to compliance with the provisions of S.D. Const., Art. XIII, §1, installment purchase contracts. No term of an installment purchase contract may exceed thirty years. The authority may establish the terms of the contracts, subject to the approval of the Governor. The authority may include in such contracts the following provisions:(1)In lease contracts, options to purchase the property subject to the lease or the lessor's interest therein, and provisions for the payment by lessee to lessor of rent net of all other costs and expenses of ownership, operation, maintenance, and insurance of the leased property by the authority as agent of the lessor, subject only to the laws, rules and regulations as are applicable to the lessor;(2)In lease-purchase contracts, provisions of the type specified in subdivision (1), and provisions for designating a portion of the periodic payments to be made thereunder as interest, for prepayment, and for acquisition of unencumbered title or fee title to the property subject to the contract. Source: SL 1983, ch 32, §2.
SD Codified L § 5-12-44 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-44 - .Provisions applicable to contracts to acquire use or ownership.

5-12-44. Provisions applicable to contracts to acquire use or ownership.The provisions of §§5-12-13 to 5-12-18, inclusive, apply to all land, improvements and capital equipment which the Building Authority may occupy or use pursuant to any contract described in §5-12-43. Source: SL 1983, ch 32, §3.
SD Codified L § 5-12-45 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-45 - .Revenue bonds to finance sale and lease-back arrangements--Lending proceeds--Refund or refinance of obligations.

5-12-45. Revenue bonds to finance sale and lease-back arrangements--Lending proceeds--Refund or refinance of obligations.The Building Authority may provide, by resolution, for the issuance and sale of revenue bonds to finance all or any part of the capital cost of any land, buildings, or other improvements or equipment of a capital nature to be acquired by any person, partnership, association, limited liability company, or corporation and leased or acquired by the authority pursuant to §5-12-43, and may loan the proceeds thereof to such person, partnership, association, or corporation. The issuance of the bonds is declared to be for a public purpose, and in selling, securing, and issuing the bonds and applying the proceeds thereof the authority may exercise all powers conferred on any municipality under chapter 9-54, and may pay from the proceeds the cost of any letter of credit, bond insurance, bond guarantee, put option, or other contractual right deemed necessary or desirable to secure the payment of or reduce the net interest cost on the bonds. The provisions of §5-12-21, except the last sentence thereof, and §§5-12-23 to 5-12-27, inclusive, are applicable to the bonds only to the extent they are not inconsistent with the provisions of chapter 9-54. The authority shall also have the powers specified in §§5-12-27.1 to 5-12-39, inclusive, with respect to projects and bonds of the type herein described.The Building Authority may provide, by resolution, for the issuance and sale of revenue obligations to refund or refinance obligations issued pursuant to §§5-12-42 and 5-12-43. In connection with such refunding or refinancing, the authority need not determine the fair market value of the improvements to be sold as otherwise required by §5-12-42. For sufficient consideration received by the authority, as determined by the authority, the authority may enter into contracts with banks, investment bankers, or other purchasers for the sale and issuance of such revenue obligations to refund or refinance obligations issued pursuant to §§5-12-42 and 5-12-43, which contracts of sale shall be binding on the authority for the period stated therein, but not exceeding three years. Source: SL 1983, ch 32, §6; SL 1994, ch 50, §13; SL 1994, ch 351, §5.
SD Codified L § 5-12-46 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-46 - .Legislative approval required for sale and lease-back arrangements.

5-12-46. Legislative approval required for sale and lease-back arrangements.No sale or lease-back of any land or improvements as described in §§5-12-42 and 5-12-43 shall be initiated later than July 1, 1984, without prior legislative approval. Source: SL 1983, ch 32, §8.
SD Codified L § 5-12-47 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-47 - .Revenue obligations--Issuance--Purpose--Funds for payment.

5-12-47. Revenue obligations--Issuance--Purpose--Funds for payment.The authority, with the approval of the Governor, may by resolution provide for the issuance and sale of revenue obligations to finance all or any part of the capital cost of acquiring, constructing, furnishing, equipping, or repairing any state building owned or to be owned by it and for this purpose may exercise all powers conferred upon it by this chapter. Revenue obligations issued pursuant to this section shall be payable solely from moneys, including investment income, derived by the authority from transactions described in §§5-12-42 and 5-12-43, transactions authorized by the Legislature and transactions initiated by resolutions of the authority adopted prior to July 1, 1984. Such moneys may be pledged for this purpose. Source: SL 1985, ch 40, §1.
SD Codified L § 5-12-47.1 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-47.1 - .Payment of lease rental obligations to South Dakota Building Authority by Bureau of Finance and Management.

5-12-47.1. Payment of lease rental obligations to South Dakota Building Authority by Bureau of Finance and Management.The funds appropriated in SL 2014, ch 35, §1 shall be used to pay or prepay lease rental and associated fees in the amounts specified below to the South Dakota Building Authority relating to the leases between the South Dakota Building Authority and the departments or offices and the related real or personal property financed by the South Dakota Building Authority all as described below:(1)Lease rentals and fees in an estimated amount of eleven million eighteen thousand eight hundred fifty-three dollars in connection with the lease between the South Dakota Building Authority and the Department of Human Services relating to the George S. Mickelson Center for the Neurosciences financed with the proceeds of a sale by the South Dakota Building Authority of series 1992 bonds and refinanced with proceeds of series 1993A lease revenue trust certificates;(2)Lease rentals and fees in an estimated amount of six million forty thousand two hundred ninety-three dollars in connection with the lease between the South Dakota Building Authority and the Office of Attorney General and Department of Public Safety relating to the George S. Mickelson Criminal Justice Center financed with proceeds of the South Dakota Building Authority's series 2005B bonds;(3)Lease rentals and fees in an estimated amount of thirty-two million four hundred sixty-five thousand five hundred forty dollars in connection with a lease between the South Dakota Building Authority and the Board of Regents relating to the portion of the costs of the science facilities and laboratories at various public universities supported by rent paid from general fund appropriations by the Legislature and financed by proceeds of the South Dakota Building Authority's series 2008 bonds; and(4)Lease rentals and fees in an estimated amount of six million seven hundred thirty-two thousand five hundred sixty-five dollars in connection with a lease between the South Dakota Building Authority and the Department of Human Services relating to the George S. Mickelson Center for the Neurosciences dietary wing financed with the proceeds of the South Dakota Building Authority's series 2010B bonds. Source: SL 2014, ch 35, §2, eff. Mar. 28, 2014.
SD Codified L § 5-12-47.2 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-47.2 - .Irrevocable escrow agreement for defeasance and payment of lease revenue trust certificates and bonds--Arrangements to pay governmental expenses.

5-12-47.2. Irrevocable escrow agreement for defeasance and payment of lease revenue trust certificates and bonds--Arrangements to pay governmental expenses.The South Dakota Building Authority may enter into an irrevocable escrow agreement to provide for the defeasance and payment of the series 1993A lease revenue trust certificates, the series 2005B bonds and the series 2008 bonds issued to finance the costs of the buildings and other real or personal property described in subdivisions 5-12-47.1(1), (2) and (3). The authority may enter into such other arrangements to pay or prepay, from time to time, any governmental expenses permissible under chapter 5-12, including payment or prepayment of debt service and associated fees and expenses relating to series 2010B bonds issued to finance the costs of the buildings and other real or personal property described in subdivision 5-12-47.1(4). The authority may contract with a third party for any of the purposes of this section. Upon determination by the authority of the amounts necessary for payment or prepayment of the bonds and other governmental expenses described in this section, and any associated fees and expenses, any remaining funds shall be transferred to the general fund at the end of the fiscal year in which SL 2014, ch 35 was enacted. Thereafter, as of the end of each fiscal year to and including the fiscal year ending June 30, 2021, the South Dakota Building Authority shall file an annual report with the Bureau of Finance and Management specifying any lease rentals, any fees received pursuant to §5-12-47.1 and this section, and any interest earnings thereon, which the authority has determined are no longer expected to be required for the purposes set forth in §5-12-47.1. Any such amounts not then expected to be required shall be deposited into the general fund with thirty days of the filing of the annual report. Any lease rentals and fees received by the authority pursuant to §5-12-47.1 and this section, or interest earnings thereon, which are not applied by June 2, 2021, to pay or prepay amounts described in this section, shall be deposited into the general fund by June 30, 2021. Source: SL 2014, ch 35, §3, eff. Mar. 28, 2014.
SD Codified L § 5-12-48.1 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-48.1 - .Authority may invest funds in certain permitted investments.

5-12-48.1. Authority may invest funds in certain permitted investments.In addition to all other powers established pursuant to chapter 5-12, the building authority may invest its funds or the funds under its control or direction in permitted investments as defined in subdivision 5-12-48(10). Source: SL 2002, ch 31, §1.
SD Codified L § 5-12-50.1 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-50.1 - .Bond transactions to be public records subject to disclosure.

5-12-50.1. Bond transactions to be public records subject to disclosure.The particulars of any bond transactions made pursuant to §§5-12-48.1, 5-12-50, and 5-12-50.1, inclusive, including legal fees and the costs of underwriting the bonds, shall be of public record subject to disclosure pursuant to §1-27-1. Source: SL 2002, ch 31, §3.
SD Codified L § 5-12-51 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-51 - .Purposes of special purpose corporation.

5-12-51. Purposes of special purpose corporation.The purposes of the corporation established by the authority pursuant to §§5-12-48 to 5-12-61, inclusive, are:(1)To purchase, acquire, own, pledge, encumber, or otherwise transfer all right, title, and interest of the state in, to, and under the master settlement agreement, including, without limitation, all right, title, and interest to receive or collect tobacco settlement revenues;(2)To raise funds through the issuance of bonds or other obligations or evidences of indebtedness or ownership or through the sale, transfer, pledge, encumbrance, securitization, factoring, or other conveyance of the rights described above in subdivision (1) of this section for the purposes of depositing net proceeds of bonds in the education enhancement trust fund and as otherwise described in §§5-12-48 to 5-12-61, inclusive;(3)To serve the Legislature by making reports concerning the foregoing;(4)To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;(5)To have and to use a corporate seal and to alter the same at pleasure;(6)To maintain an office at such place or places as the authority by resolution may designate;(7)To receive funds transferred to it by the authority, the state, or others; and(8)To do all things necessary and convenient to carry out the purposes of this chapter.The corporation shall also be vested with the same power and authority, and shall be subject to the same limitations and conditions, as are applicable to the authority pursuant to §§5-12-1.1, 5-12-4, 5-12-5, 5-12-8.1, 5-12-22, 5-12-24, 5-12-26, 5-12-27, 5-12-27.1, 5-12-27.2, 5-12-27.3, 5-12-27.4, 5-12-27.6, 5-12-28, 5-12-38, 5-12-38.1, and 5-12-40, except such power and authority shall be exercised with respect to and shall be limited to the purposes of the corporation set forth in this section, the final maturity date of any bonds issued, incurred, or created hereunder may not be in excess of forty years for the date of delivery thereof, and the corporation may not engage in any unrelated activities. In addition, the corporation may invest any of its funds in permitted investments. Source: SL 2001, ch 27, §4; SL 2013, ch 28, §3.
SD Codified L § 5-12-52 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-52 - .Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.

5-12-52. Bonds of corporation not a lien, charge or liability against the state--Pledge of education enhancement trust funds prohibited.No bond of the corporation issued, incurred, or created under §§5-12-48 to 5-12-61, inclusive, may be or become a lien, charge, or liability against the State of South Dakota or the authority, nor against the property or funds of the State of South Dakota or the authority within the meaning of the Constitution or statutes of South Dakota. In no event may any of the funds deposited into the education enhancement trust fund be pledged to secure payment of any bonds issued under the authority of §§5-12-48 to 5-12-61, inclusive. Source: SL 2001, ch 27, §5; SL 2013, ch 28, §4.
SD Codified L § 5-12-53 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-53 - .Pledge of non-interference by state to impair terms of bonds--Liability of state on bonds.

5-12-53. Pledge of non-interference by state to impair terms of bonds--Liability of state on bonds.The State of South Dakota pledges to and agrees with the holders of bonds issued, incurred, or created under §§5-12-48 to 5-12-59, inclusive, that the state will not limit or alter the rights and powers vested in the corporation and the authority by §§5-12-48 to 5-12-59, inclusive, so as to impair the terms of any contract made by the corporation or the authority with those holders or in any way impair the rights and remedies of those holders until such bonds, together with interest thereon, interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of those holders are fully met or discharged. In addition, the state pledges to and agrees with the holders of bonds issued, incurred, or created under §§5-12-48 to 5-12-59, inclusive, that the state will not limit or alter the basis on which tobacco settlement revenues that have been sold pursuant to §§5-12-48 to 5-12-59, inclusive, are to be paid to the corporation or the authority so as to impair the terms of any such contract. The corporation and authority each may include these pledges and agreements of the state in any contract with the holders of bonds issued, incurred, or created under §§5-12-48 to 5-12-59, inclusive.Neither the State of South Dakota nor the authority is liable on bonds issued, incurred, or created under §§5-12-48 to 5-12-59, inclusive, those bonds may not be a debt of the state or the authority, and §§5-12-48 to 5-12-59, inclusive, may not be construed as a guarantee by the state or the authority of the debts of the corporation. The bonds shall contain a statement to this effect on the face of the bonds. Source: SL 2001, ch 27, §6.
SD Codified L § 5-12-54 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-54 - .Liability of authority and special purpose corporation.

5-12-54. Liability of authority and special purpose corporation.The authority is not liable for any bond issued, incurred, or created by the corporation under §§5-12-48 to 5-12-59, inclusive, or for any act or failure to act of the corporation. The corporation may not be liable for any obligation of the South Dakota Building Authority or for any act or failure to act by the building authority. Source: SL 2001, ch 27, §7.
SD Codified L § 5-12-55 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 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.

5-12-55. Special purpose corporation treated as public instrumentality of state--Income of authority and corporation not taxed--Obligations of corporation deemed public securities.The corporation is hereby declared to be performing a public function on behalf of the state and to be a public instrumentality of the state. The income of the authority and the corporation, and all properties at any time owned by the authority and the corporation, are exempt from all taxation in the State of South Dakota. In addition, the corporation is exempt from all filing, reporting, and similar requirements otherwise applicable to nonprofit and other corporations.For purposes of chapter 47-31B, bonds, notes, certificates, or other obligations issued, incurred or created by the corporation under §§5-12-48 to 5-12-59, inclusive, are deemed to be securities issued by a public instrumentality of the State of South Dakota. Source: SL 2001, ch 27, §8; SL 2004, ch 278, §56.
SD Codified L § 5-12-56 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-56 - .Employees of special purpose corporation.

5-12-56. Employees of special purpose corporation.The corporation may employ attorneys, accountants, tobacco industry consultants, and financial experts, managers, and such other employees and agents as may be necessary in its judgment and to fix their compensation. Source: SL 2001, ch 27, §9.