reglab/housing_qa huggingface dataset:
SD Codified L § 5-12-25 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-25 - .Restrictions on obligation stated on face of bonds.

5-12-25. Restrictions on obligation stated on face of bonds.Each such bond shall state upon its face that it is payable solely from revenues derived by the Building Authority from the operation of facilities acquired, constructed, completed, remodeled, or equipped in whole or in part with the proceeds of the sale of such bonds, including income to be derived from rental leases as provided in §§5-12-13 to 5-12-18, inclusive. Each such bond shall state upon its face that it does not constitute an obligation of the State of South Dakota within the meaning of any provisions of the Constitution or statutes of the State of South Dakota. Source: SL 1967, ch 276, §6; SL 1975, ch 51, §4.
SD Codified L § 5-12-26 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-26 - .Creation of state obligation not authorized.

5-12-26. Creation of state obligation not authorized.Nothing in this chapter shall be construed to authorize the Building Authority or any department, board, commission, or other agency to create an obligation of the State of South Dakota within the meaning of the Constitution or statutes of South Dakota. Source: SL 1967, ch 276, §13.
SD Codified L § 5-12-27 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27 - .Contract with bondholders--Bondholders' remedies.

5-12-27. Contract with bondholders--Bondholders' remedies.The provisions of this chapter and of any resolution or proceeding authorizing the issuance of bonds shall constitute a contract with the holders of such bonds. 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 any duties required by this chapter or any resolution or proceeding authorizing the issuance of such bonds, including the establishment of sufficient charges, fees, or rentals and the application of the income from a project under this chapter, as provided in §5-12-23. Source: SL 1967, ch 276, §12.
SD Codified L § 5-12-27.1 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27.1 - .Refunding bonds authorized--Purposes.

5-12-27.1. Refunding bonds authorized--Purposes.The Building Authority may issue negotiable refunding bonds to refund:(1)Unpaid matured bonds;(2)Unpaid matured coupons evidencing interest upon its unpaid matured bonds; and(3)Interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of these bonds. Source: SL 1975, ch 50, §1.
SD Codified L § 5-12-27.2 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27.2 - .Amount of refunding bonds.

5-12-27.2. Amount of refunding bonds.The Building Authority may issue negotiable refunding bonds under §§5-12-27.1 to 5-12-27.4, inclusive, 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 1975, ch 50, §2.
SD Codified L § 5-12-27.3 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27.3 - .Exchange or sale of refunding bonds--Proceeds of sale--Cancellation of bonds and coupons--Evidence of discharge of interest obligation.

5-12-27.3. Exchange or sale of refunding bonds--Proceeds of sale--Cancellation of bonds and coupons--Evidence of discharge of interest obligation.Refunding bonds issued pursuant to §§5-12-27.1 to 5-12-27.4, inclusive, 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 or 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 1975, ch 50, §1.
SD Codified L § 5-12-27.4 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27.4 - .Exchange or sale of bonds--Disposition of proceeds of sale.

5-12-27.4. Exchange or sale of bonds--Disposition of proceeds of sale.Refunding bonds issued pursuant to §§5-12-27.1 to 5-12-27.4, inclusive, 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, or those guaranteed by 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 the 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 authority to be used and held for use as revenues pledged for the payment of said refunding bonds; or(5)For any combination of the foregoing subdivisions of this section. Source: SL 1975, ch 50, §3.
SD Codified L § 5-12-27.5 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 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.

5-12-27.5. Assistance in conserving and improving soil and water resources of highly erodible cropland by means of loans--Revenue bonds and interim notes authorized.It being declared to be in the public interest, the South Dakota Building Authority may, pursuant to chapter 5-12, finance loans to participants in a program of the United States to assist owners and operators of highly-erodible cropland in conserving and improving the soil and water resources of their farms or ranches within the state and may, for the purpose of financing such loans, issue revenue bonds or interim notes, pursuant to the powers vested in the authority. Source: SL 1988, ch 52, §1.
SD Codified L § 5-12-27.6 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27.6 - .No indebtedness to be charged against state.

5-12-27.6. No indebtedness to be charged against state.No indebtedness, bond, or obligation incurred or created under authority of §§5-12-27.5 to 5-12-27.8, inclusive, may be or become a lien, charge or liability against the State of South Dakota, nor against the property or funds of the State of South Dakota within the meaning of the Constitution or statutes of South Dakota. Source: SL 1988, ch 52, §2.
SD Codified L § 5-12-27.7 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-27.7 - .Acceptance and expenditure of gifts, contributions, etc., authorized.

5-12-27.7. Acceptance and expenditure of gifts, contributions, etc., authorized.The Building Authority and the State of South Dakota through any of its departments, agencies, or bureaus, may accept and expend for the purposes stated in §5-12-27.5, any funds obtained for such purposes from gifts, contributions, or other sources, including any unit of government. Source: SL 1988, ch 52, §3.
SD Codified L § 5-12-27.8 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 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.

5-12-27.8. Lease and sublease agreements with South Dakota Building Authority authorized to support purpose and payment of revenue bonds or interim notes.The State of South Dakota through any of its departments, agencies, or bureaus, may make and enter into lease and sublease agreements with the South Dakota Building Authority and make rental payments under the terms thereof, pursuant to chapter 5-12, from appropriations to be made by the Legislature for the payment of such rent to support the purpose and the payment of revenue bonds or interim notes issued in connection therewith for the purposes in §5-12-27.5. Source: SL 1988, ch 52, §4.
SD Codified L § 5-12-28 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-28 - .Interim notes authorized--Purposes of borrowing.

5-12-28. Interim notes authorized--Purposes of borrowing.In addition to the permanent financing authorized by §§5-12-20 to 5-12-27, inclusive, the South Dakota Building Authority may borrow money and issue interim notes in evidence thereof for any of the projects, or to perform any of the duties authorized under this chapter, and in addition may borrow money and issue interim notes for planning, architectural, and engineering services, acquisition of land, purchase of equipment, movable or otherwise as set forth in §§5-12-29 to 5-12-33, inclusive. Source: SL 1967, ch 276, §5.
SD Codified L § 5-12-29 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-29 - .Resolution for issuance of interim notes--Interest rate--Maturity date.

5-12-29. Resolution for issuance of interim notes--Interest rate--Maturity date.Whenever the Building Authority deems it advisable and in the interests of the authority to borrow funds temporarily for any of the purposes enumerated in §5-12-28, the authority may from time to time, and pursuant to appropriate resolution, issue interim notes to evidence the borrowings, including funds for the payment of interest on borrowings and funds for all necessary and incidental expenses in connection with any of the purposes provided for by this section and this chapter until the date of the permanent financing. Any resolution authorizing the issuance of these notes shall describe the project to be undertaken and shall specify the principal amount, rate of interest and maturity date, but not to exceed five years from date of issue, and other terms as may be specified in the resolution. However, the time of payment of any such notes may be extended for a period not exceeding three years from the maturity date thereof. Source: SL 1967, ch 276, §5; SL 1975, ch 52, §1; SL 1980, ch 47, §6; SL 1983, ch 28, §6.
SD Codified L § 5-12-30 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-30 - .Terms and registration of interim notes--Redemption prior to maturity--Execution of notes--Pledge of income and revenue.

5-12-30. Terms and registration of interim notes--Redemption prior to maturity--Execution of notes--Pledge of income and revenue.The Building Authority may provide for the registration of the notes in the name of the owner either as to principal alone, or as to both principal and interest, on such terms and conditions as the authority may determine by the resolution authorizing their issue. The notes shall be issued from time to time by the authority as funds are borrowed, in the manner the authority may determine. Interest on the notes may be made payable semiannually, annually, or at maturity. The notes may be made redeemable, prior to maturity, at the option of the authority, in the manner and upon the terms fixed by the resolution authorizing their issuance. The notes may be executed in the name of the authority by the chairman of the authority or by any other officer or officers of the authority as the authority by resolution may direct, shall be attested by the secretary or such other officer or officers of the authority as the authority may by resolution direct, and be sealed with the authority's corporate seal. All such notes and the interest thereon may be secured by a pledge of any income and revenue derived by the authority from the project to be undertaken with the proceeds of the notes, after deducting from such income and revenue any reasonable and necessary maintenance and operation expenses, and shall be payable solely from the proceeds to be derived from the sale of any revenue bonds for permanent financing authorized to be issued under §§5-12-20 to 5-12-27, inclusive, and from the property acquired with the proceeds of the notes. Source: SL 1967, ch 276, §5.
SD Codified L § 5-12-31 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-31 - .Additional provisions to secure payment of interim notes.

5-12-31. Additional provisions to secure payment of interim notes.The Building Authority, in order further to secure the payment of the interim notes, is, in addition to the foregoing, authorized and empowered to make any other or additional covenants, terms, and conditions not inconsistent with the provisions of §§5-12-11 and 5-12-12, and do any and all acts and things as may be necessary or convenient or desirable in order to secure payment of its interim notes, or, in the discretion of the authority, as will tend to make the interim notes more acceptable to lenders, notwithstanding that the covenants, acts or things may not be enumerated herein; provided, however, that nothing contained in this section shall authorize the authority to secure the payment of the interim notes out of property or facilities, other than the facilities acquired with the proceeds of the interim notes, and any net income and revenue derived from the facilities and the proceeds of revenue bonds as hereinabove provided. Source: SL 1967, ch 276, §5.
SD Codified L § 5-12-32 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-32 - .Debt limitations not applicable to interim notes--Personal liability not created by execution of notes.

5-12-32. Debt limitations not applicable to interim notes--Personal liability not created by execution of notes.The interim notes shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.No member, officer, agent, or employee of the authority, nor any other person who executes interim notes, shall be liable personally by reason of the issuance thereof. Source: SL 1967, ch 276, §5.
SD Codified L § 5-12-33 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-33 - .Payment of interim notes or purchase of government obligations with proceeds from sale of revenue bonds.

5-12-33. Payment of interim notes or purchase of government obligations with proceeds from sale of revenue bonds.Contemporaneously with the issue of revenue bonds as provided by this chapter, all interim notes, even though they may not then have matured, shall be paid, both principal and interest to date of payment, from the funds derived from the sale of revenue bonds for the permanent financing and such interim notes shall be surrendered and canceled, or the proceeds at the sale of said bonds (excepting the accrued interest received) shall be used 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 notes 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 notes so to be refunded, and any balance remaining in said escrow after the payment and retirement of the notes to be refunded shall be returned to said authority to be used and held for use as revenues pledged for the payment of said refunding bonds. Source: SL 1967, ch 276, §5; SL 1975, ch 52, §2.
SD Codified L § 5-12-34 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-34 - .Disposition of income under chapter--Public building fund.

5-12-34. Disposition of income under chapter--Public building fund.The gross total income from:(1)The sale of bonds;(2)Charges, fees, or rentals; and(3)All other revenue derived from any project undertaken pursuant to this chaptershall be paid to the treasurer of the State of South Dakota. Said income shall be held by him in trust for the purposes of this chapter, in a special fund known as "the public building fund." The state treasurer shall be ex officio custodian of such fund. Disbursements shall be made from such fund upon the order of the Building Authority. Source: SL 1967, ch 276, §8.
SD Codified L § 5-12-35 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-35 - .Accounts maintained by authority--Purpose of disbursements from public building fund.

5-12-35. Accounts maintained by authority--Purpose of disbursements from public building fund.The Building Authority shall keep account of the gross total income derived from each separate project or any combination thereof undertaken pursuant to this chapter. Disbursements from a given account in the public building fund shall be ordered by the authority only for the payment of:(1)The cost of maintenance and operation of the facility or facilities, unless otherwise provided for;(2)The principal of and interest on the bonds issued for each project, or combination thereof; and(3)Any other purposes set forth in the resolution authorizing the issuance of said bonds. Source: SL 1967, ch 276, §9.
SD Codified L § 5-12-36 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-36 - .Authority to convey property to state when debt paid or payment provided for--Reversion to authority.

5-12-36. Authority to convey property to state when debt paid or payment provided for--Reversion to authority.To accomplish projects of the kind listed in this chapter, the Building Authority may convey property, without charge, to the State of South Dakota, if all debts which have been secured by the income from the property have been paid. The authority may transfer title and jurisdiction to the State of South Dakota of facilities, for which bonds have been issued and payment for the bonds has been provided for by an escrow. The facility shall revert to the authority if the lessee fails to make lease payments in connection with the facility until the bonds are paid. Source: SL 1967, ch 276, §5; SL 1986, ch 50, §2; SL 1994, ch 50, §10.
SD Codified L § 5-12-37 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-37 - .Record of rental payments under lease--Conveyance to lessee after amortization of debt.

5-12-37. Record of rental payments under lease--Conveyance to lessee after amortization of debt.An accurate record shall be kept of the rental payments under each lease entered into by the Building Authority and any officer, department, board, commission, or other agency of the State of South Dakota, or the commissioner of administration when requested to enter into such leases as provided in §§5-12-13 to 5-12-16, inclusive, and when the rentals applicable to each project or facility, or any combination thereof, acquired, constructed, completed, remodeled, maintained, and equipped have been paid, in amounts sufficient to amortize and pay the principal of and interest upon the total principal amounts of bonds of the authority issued to pay the cost of each project or facility, including maintenance and operation expenses and that proportion of the administrative expense of the authority as provided for by each lease, the property shall be conveyed without charge to the lessee. Source: SL 1967, ch 276, §10; SL 1988, ch 50, §9.
SD Codified L § 5-12-38 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-38 - .Annual audit.

5-12-38. Annual audit.The Building Authority shall be audited annually in accordance with chapter 4-11. Source: SL 1967, ch 276, §11; SL 1989, ch 51.
SD Codified L § 5-12-38.1 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-38.1 - .Informational budget required.

5-12-38.1. Informational budget required.Notwithstanding any other provisions of law, all funds received by the Building Authority shall be set forth in an informational budget as described in §4-7-7.2 and be annually reviewed by the Legislature. Source: SL 1984, ch 4, §2.
SD Codified L § 5-12-39 (2021)
2021 South Dakota Codified Laws|Title 5 - Public Property, Purchases and Contracts|Chapter 12 - South Dakota Building Authority|Section 5-12-39 - .Contractual power of authority.

5-12-39. Contractual power of authority.The Building Authority shall possess the power to enter into contracts regarding any matter connected with any corporate purpose within the objects and purposes of this chapter. Source: SL 1967, ch 276, §5.