reglab/housing_qa huggingface dataset:
SD Codified L § 13-51A-17 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-17 - Covenant to maintain adequate income for bond retirement.

13-51A-17. Covenant to maintain adequate income for bond retirement.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to covenant with or for the benefit of the holder or holders of the bonds issued under this chapter that so long as any such bonds shall remain outstanding and unpaid the board will fix, maintain and collect in such installments as may be agreed upon:(1)Fees, rentals, and other charges from students, staff members, and others using or being served by, or having the right to use or the right to be served by, or to operate any project;(2)Health, hospital, medical, laboratory, admission, student activities, student services, and all other fees collected from students matriculated, registered, or otherwise enrolled at and attending each such institution pledged under the terms of any resolution authorizing bonds pursuant to this chapter; and(3)Rentals from any facility or building leased to the United States of America,the aggregate of which shall be sufficient at all times to pay all necessary expenses of the operation and maintenance of any project, to pay the bonds at maturity and accruing interest thereon in accordance with their terms, and to create and maintain all reserves therefor as provided by the resolution authorizing said bonds, until said bonds and accruing interest have been paid in accordance with their terms. Source: SL 1971, ch 134, §5, subdiv 3.
SD Codified L § 13-51A-18 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-18 - Covenant against debt or charge endangering income pledged to bond retirement.

13-51A-18. Covenant against debt or charge endangering income pledged to bond retirement.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to covenant that so long as any of the bonds issued under this chapter shall remain outstanding and unpaid, it will not, except upon such terms and conditions as may be determined, voluntarily create or cause to be created any debt, lien, mortgage, pledge, assignment, encumbrance, or other charge having priority to the lien of the bonds issued under this chapter upon any of the income and revenues derived from:(1)All fees, rentals, and other charges from students, staff members, and others using or being served by, or having the right to use or the right to be served by, or to operate, any project;(2)All health, hospital, medical, laboratory, admission, student activities, student services, and all other fees collected from students matriculated, registered, or otherwise enrolled at and attending each such institution; and(3)All rentals from any facility or building leased to the United States of America. Source: SL 1971, ch 134, §5, subdiv 6 (i).
SD Codified L § 13-51A-19 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-19 - Covenant against alienation of project so as to endanger bond security.

13-51A-19. Covenant against alienation of project so as to endanger bond security.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to covenant that so long as any of the bonds issued under this chapter shall remain outstanding and unpaid, it will not, except upon such terms and conditions as may be determined, convey or otherwise alienate any project or the real estate upon which such project shall be located, except at a price sufficient to pay all the bonds issued for such project then outstanding and interest accrued thereon, and then only in accordance with any agreements with the holder or holders of such bonds. Source: SL 1971, ch 134, §5, subdiv 6 (ii).
SD Codified L § 13-51A-20 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-20 - Additional covenants for security of bonds.

13-51A-20. Additional covenants for security of bonds.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to covenant with or for the benefit of the holder or holders of bonds issued under this chapter as to all matters deemed advisable by the board, including:(1)The purposes, terms, and conditions for the issuance of additional parity or junior lien bonds that may thereafter be issued, and for the payment of the principal, redemption premiums, and interest on such bonds.(2)The kind and amount of all insurance to be carried, the cost of which shall be charged as an operation and maintenance expense of any project.(3)The operation, maintenance, and management of any project to assure the maximum use and occupancy thereof; the accounting for, and the auditing of, all income revenue from, and all expenses of, any project; the employment of engineers and consultants; and the keeping of records, reports, and audits of any project.(4)The obligation of the board to maintain any project in good condition and to operate the same at all times in an economical and efficient manner.(5)The terms and conditions for creating and maintaining debt service funds, reserve funds, and such other special funds as may be created in the resolution authorizing said bonds, separate and apart from all other funds and accounts of said board and said institution.(6)The procedure by which the terms of any contract with the holders of the bonds may be amended, the amount of bonds the holders of which must consent thereto, and the manner in which consent may be given.(7)Providing the procedure for refunding such bonds.(8)Such other covenants as may be deemed necessary or desirable to assure a successful operation of any project and the prompt payment of the principal of and interest upon the bonds so authorized. Source: SL 1971, ch 134, §5, subdiv 4.
SD Codified L § 13-51A-21 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-21 - Trustee for bondholders--General powers--Trust agreement.

13-51A-21. Trustee for bondholders--General powers--Trust agreement.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to vest in a trustee or trustees the right to receive all or any part of the income and revenue pledged and assigned to, or for the benefit of the holder or holders of bonds issued under this chapter, and to hold, apply, and dispose of the same and the right to enforce any covenant made to secure or pay or in relation to the bonds; execute and deliver a trust agreement or trust agreements which may set forth the powers and duties and the remedies available to such trustee or trustees and limiting the liabilities thereof and describing what occurrences shall constitute events of default and prescribing the terms and conditions upon which such trustee or trustees or the holder or holders of any specified amount or percentage of such bonds may exercise such right and enforce any and all such covenants and resort to such remedies as may be appropriate. Source: SL 1971, ch 134, §5, subdiv 7.
SD Codified L § 13-51A-22 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-22 - Covenants to take actions for benefit of bondholders.

13-51A-22. Covenants to take actions for benefit of bondholders.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to covenant to perform any and all acts and to do any and all such things as may be necessary or convenient or desirable in order to secure its bonds, or as may in the judgment of the board tend to make the bonds more marketable, notwithstanding that such acts or things may not be enumerated herein, it being the intention hereof to give the board issuing bonds pursuant to this chapter power to make all covenants, to perform all acts and to do all things not inconsistent with the Constitution of the State of South Dakota. Source: SL 1971, ch 134, §5, subdiv 8.
SD Codified L § 13-51A-23 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-23 - Prohibition against obligating state.

13-51A-23. Prohibition against obligating state.Nothing in this chapter shall be construed to authorize the board or any institution to contract a debt on behalf of, or in any way to obligate, the State of South Dakota, or to pledge, assign, or encumber in any way, or to permit the pledging, assigning or encumbering in any way, of appropriations made by the Legislature of the State of South Dakota. Source: SL 1971, ch 134, §9.
SD Codified L § 13-51A-24 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-24 - Limited obligation of bonds.

13-51A-24. Limited obligation of bonds.All bonds issued pursuant to this chapter shall be obligations of the board payable only in accordance with the terms thereof and shall not be obligations general, special, or otherwise, of the State of South Dakota. Such bonds shall not constitute a debt, legal or moral, of the State of South Dakota, and shall not be enforceable against the state, nor shall payment thereof be enforceable out of any funds of the board, or of any institution, other than the income and revenues pledged and assigned to, or in trust for the benefit of, the holder or holders of such bonds. Source: SL 1971, ch 134, §10.
SD Codified L § 13-51A-25 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-25 - Recording not required to perfect lien.

13-51A-25. Recording not required to perfect lien.Neither the resolution authorizing the bonds nor any financing statement or other instrument or document need be filed or recorded in any public records in order to perfect the lien on the pledge of the revenues to pay the bonds as against third parties. Source: SL 1971, ch 134, §8.
SD Codified L § 13-51A-26 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-26 - Validity of bonds despite expiration of terms of officers--Irregularities in proceedings.

13-51A-26. Validity of bonds despite expiration of terms of officers--Irregularities in proceedings.The bonds bearing the signatures of officers of the board in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all persons whose signatures appear thereon shall have ceased to be such officers. The validity of the bonds shall not be dependent on nor affected by the validity or regularity of any proceedings to acquire any project financed by the bonds, or to refund outstanding bonds, or taken in connection therewith. Source: SL 1971, ch 134, §8.
SD Codified L § 13-51A-27 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-27 - Sale of bonds--Minimum price.

13-51A-27. Sale of bonds--Minimum price.All bonds issued under this chapter shall be sold for such price or prices as the board shall determine but at not less than ninety-five percent of par except refunding bonds exchanged on a par for par basis as hereinafter provided. Source: SL 1971, ch 134, §4 (A).
SD Codified L § 13-51A-28 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-28 - Negotiability of bonds.

13-51A-28. Negotiability of bonds.The coupon bonds shall be fully negotiable within the meaning of Title 57A. Source: SL 1971, ch 134, §4 (A).
SD Codified L § 13-51A-29 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-29 - Bonds as legal investments.

13-51A-29. Bonds as legal investments.The state and all counties, cities, villages, incorporated towns, and other municipal corporations, political subdivisions, and public bodies, and public officers of any thereof, all banks, subject to applicable investment limitations, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all personal representatives, conservators, trustees, and other fiduciaries may legally invest any debt service funds, moneys, or other funds belonging to them or within their control in any bonds issued pursuant to this chapter, it being the purpose of this section to authorize the investment in such bonds of all debt service, insurance, retirement, compensation, pension, and trust funds, whether owned or controlled by private or public persons or officers; provided, however, that nothing contained in this section may be construed as relieving any person, firm, or corporation from any duty of exercising reasonable care in selecting securities for purchase or investment. Source: SL 1971, ch 134, §11; SL 1992, ch 60, §2; SL 1993, ch 213, §86.
SD Codified L § 13-51A-30 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-30 - Deposit of bond proceeds and revenues--Security--Disbursement.

13-51A-30. Deposit of bond proceeds and revenues--Security--Disbursement.Notwithstanding the provisions of any other law, no moneys derived from the sale of bonds issued under the provisions of this chapter, or pledged or assigned to or in trust for the benefit of the holder or holders thereof, shall be required to be paid into the state treasury but shall be deposited by the treasurer or other fiscal officer of the board in such bank or banks or trust company or trust companies as may be designated by the board, and all deposits of such moneys shall, if required by the board, be secured by obligations of the United States of America, of a market value equal at all times to the amount of such moneys on deposit. Such moneys shall be disbursed as may be directed by the board and in accordance with the terms of any agreements with the holder or holders of any bonds. Source: SL 1971, ch 134, §7.
SD Codified L § 13-51A-31 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-31 - Agreements as to custody of funds.

13-51A-31. Agreements as to custody of funds.Section 13-51A-30 shall not be construed as limiting the power of the board to agree in connection with the issuance of any of its bonds as to the custody and disposition of the moneys received from the sale of such bonds or from the income and revenues pledged or assigned to or in trust for the benefit of the holder or holders thereof. Source: SL 1971, ch 134, §7.
SD Codified L § 13-51A-32 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-32 - Actions for enforcement of chapter and resolutions.

13-51A-32. Actions for enforcement of chapter and resolutions.The provisions of this chapter and of any resolution or other proceeding authorizing the issuance of bonds shall constitute a contract with the holders of such bonds and the provisions thereof shall be enforceable either in law or in equity, by suit, action, mandamus, or other proceeding in any court of competent jurisdiction to enforce and compel the performance of all duties required by this chapter and by any resolution authorizing the issuance of bonds adopted responsive hereto. Source: SL 1971, ch 134, §6.
SD Codified L § 13-51A-33 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-33 - Power to issue refunding bonds for matured obligations.

13-51A-33. Power to issue refunding bonds for matured obligations.The board shall have power, and is hereby authorized from time to time, to issue negotiable refunding bonds:(1)To refund unpaid matured bonds;(2)To refund unpaid matured coupons evidencing interest upon its unpaid matured bonds; and(3)To refund interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of those bonds. Source: SL 1971, ch 134, §4 (B).
SD Codified L § 13-51A-34 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-34 - Exchange of refunding bonds--Sale and use of proceeds--Cancellation of bonds and coupons received.

13-51A-34. Exchange of refunding bonds--Sale and use of proceeds--Cancellation of bonds and coupons received.Refunding bonds issued pursuant to §13-51A-33 may be exchanged for the bonds to be refunded on a par for par basis of the bonds, interest coupons, and interest not represented by coupons, if any, or may be sold at not less than par, or may be exchanged in part and sold in part, and the proceeds received at any such sale shall be used to pay the bonds, interest coupons, and interest not represented by coupons, if any. Bonds and interest coupons which have been received in exchange or paid shall be canceled and the obligation for interest, not represented by coupons, which has been discharged, shall be evidenced by a written acknowledgment of the exchange or payment thereof. Source: SL 1971, ch 134, §4 (B).
SD Codified L § 13-51A-35 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-35 - Power to issue refunding bonds for unmatured obligations.

13-51A-35. Power to issue refunding bonds for unmatured obligations.The board shall have power, and is hereby authorized from time to time, to also issue negotiable refunding bonds hereunder to refund bonds at or prior to their maturity or which by their terms are subject to redemption before maturity, or both, in an amount necessary to refund:(1)The principal amount of the bonds to be refunded;(2)The interest to accrue up to and including the maturity date or dates, or to the next succeeding redemption date thereof; and(3)The applicable redemption premiums, if any. Source: SL 1971, ch 134, §4 (C).
SD Codified L § 13-51A-36 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-36 - Exchange or sale of refunding bonds--Use of proceeds.

13-51A-36. Exchange or sale of refunding bonds--Use of proceeds.Refunding bonds issued pursuant to §13-51A-35 may be exchanged for not less than an equal principal amount of bonds to be refunded or may be sold at not less than par, or may be exchanged in part and sold in part. All proceeds received at the sale thereof (excepting the accrued interest received) shall be used:(1)If the bonds to be refunded are then due, for the payment thereof;(2)If the bonds to be refunded are voluntarily surrendered with the consent of the holder or holders thereof, for the payment thereof;(3)If the bonds to be refunded are then subject to prior redemption by their terms, for the redemption thereof;(4)If the bonds to be refunded are not then subject to payment or redemption, to purchase direct obligations of the United States of America so long as such obligations will mature at such time or times, with interest thereon or the proceeds received therefrom, to provide funds adequate to pay when due or called for redemption prior to maturity the bonds to be refunded, together with the interest accrued thereon and any redemption premium due thereon, and such proceeds or obligations of the United States of America shall, with all other funds legally available for such purpose, be deposited in escrow with a banking corporation, or national banking association, located in and doing business in the State of South Dakota, with power to accept and execute trusts, or any successor thereto, which is also a member of the Federal Deposit Insurance Corporation and of the Federal Reserve System, to be held in an irrevocable trust solely for and until the payment and redemption of the bonds so to be refunded, and any balance remaining in said escrow after the payment and retirement of the bonds to be refunded shall be returned to said board to be used and held for use as revenues pledged for the payment of said refunding bonds; or(5)For any combination thereof. Source: SL 1971, ch 134, §4 (C).
SD Codified L § 13-51A-37 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-37 - Contracts and leases to carry out purposes.

13-51A-37. Contracts and leases to carry out purposes.The board shall have power for each institution listed in subdivision 13-51A-1(4) to make contracts and leases, either as lessee or lessor, and execute all instruments and perform all acts and do all things necessary or convenient to carry out the powers granted in this chapter. Source: SL 1971, ch 134, §3, subdiv 5.
SD Codified L § 13-51A-38 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-38 - Parietal rules.

13-51A-38. Parietal rules.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to make and enforce and agree to make and enforce parietal rules that shall ensure the use of any project to the maximum extent to which such project is capable of serving students, staff members, and others using or being served by, or having the right to use or the right to be served by, or to operate, any project. Source: SL 1971, ch 134, §5, subdiv 5.
SD Codified L § 13-51A-39 (2021)
2021 South Dakota Codified Laws|Title 13 - Education|Chapter 51A - Board Of Regents Revenue Bonds|Section 13-51A-39 - Establishment and collection of fees.

13-51A-39. Establishment and collection of fees.In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the board shall have the power for each such institution to fix, maintain, and collect:(1)Fees, rentals, and other charges from students, staff members, and others using or being served by, or having the right to use or the right to be served by, or to operate any project;(2)Health, hospital, medical, laboratory, admission, student activities, student services, and all other fees collected from students matriculated, registered or otherwise enrolled at and attending each such institution; and(3)Rentals from any facility or building leased to the United States of America,the aggregate of which shall be sufficient at all times to pay all necessary expenses of the operation and maintenance of any project, to pay the bonds at maturity and accruing interest thereon in accordance with their terms, and to create and maintain all reserves therefor as provided by the resolution authorizing said bonds. Source: SL 1971, ch 134, §5, subdiv 1.