reglab/housing_qa huggingface dataset:
SD Codified L § 46A-1-37 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-37 - Covenant against alienation or encumbrance of projects while bonds outstanding.

46A-1-37. Covenant against alienation or encumbrance of projects while bonds outstanding.The district may covenant that if any of the bonds issued under this chapter remain outstanding and unpaid, the district 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 all revenues pledged pursuant to §46A-1-33, or convey or otherwise alienate any project or the real estate upon which the project is located, except at a price sufficient to pay all the bonds issued for the project then outstanding and interest accrued on the bonds, and then only in accordance with any agreements with the holder of the bonds. Source: SL 1972, ch 241, §36; SDCL Supp, §46-17A-35; SL 2011, ch 165, §297.
SD Codified L § 46A-1-38 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-38 - Covenants as to management of project and accounting for funds.

46A-1-38. Covenants as to management of project and accounting for funds.The district may covenant with or for the benefit of the holder of any bonds issued under this chapter as to all matters deemed advisable by the district 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 the 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 of the project; 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 district to maintain any project in good condition and to operate the project 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 the bonds, separate and apart from all other funds and accounts of the district and the 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 to the amendment, and the manner in which consent may be given;(7)Providing the procedure for refunding the 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 1972, ch 241, §37; SDCL Supp, §46-17A-36; SL 2011, ch 165, §298.
SD Codified L § 46A-1-39 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-39 - Trust agreements.

46A-1-39. Trust agreements.The district may vest in a trustee the right to receive any part of the proceeds of the bonds and any part of the income and revenue pledged and assigned to, or for the benefit of, the holder of bonds issued under this chapter; the right to hold, apply, and dispose of the bonds; and the right to enforce any covenant made to secure or pay or in relation to the bonds. The district may execute and deliver a trust agreement setting forth the powers and duties of and the remedies available to the trustee, limiting the liabilities of the trustee, describing what occurrences constitute events of default, and prescribing the terms and conditions upon which the trustee or the holder of any specified amount or percentage of the bonds may exercise such right and enforce any such covenants and resort to remedies as may be appropriate. Source: SL 1972, ch 241, §38; SL 1980, ch 310, §10; SDCL Supp, §46-17A-37; SL 2011, ch 165, §299.
SD Codified L § 46A-1-40 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-40 - Additional covenants to secure bonds or make them more marketable.

46A-1-40. Additional covenants to secure bonds or make them more marketable.The district may covenant to perform any act and to do anything as may be necessary or convenient or desirable in order to secure its bonds, or as may in the judgment of the district tend to make the bonds more marketable, notwithstanding that such acts or things may not be enumerated in this section or this chapter. It is the intention of this chapter to empower the district issuing bonds pursuant to this chapter 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 1972, ch 241, §39; SDCL Supp, §46-17A-38; SL 2011, ch 165, §300.
SD Codified L § 46A-1-41 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-41 - State general obligation not to be created.

46A-1-41. State general obligation not to be created.Nothing in this chapter shall be construed to authorize the district 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 unless the Legislature specifically provides otherwise. Source: SL 1972, ch 241, §40; SDCL Supp, §46-17A-39.
SD Codified L § 46A-1-42 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-42 - Bonds not a state obligation--Payment restricted to revenues.

46A-1-42. Bonds not a state obligation--Payment restricted to revenues.Any bonds issued pursuant to this chapter are obligations of the district payable only in accordance with the terms of the bonds and are not obligations general, special, or otherwise, of the State of South Dakota. Such bonds do not constitute a debt, legal or moral, of the State of South Dakota, and are not enforceable against the state. Payment of the bonds is not enforceable out of any funds of the district other than the income and revenues pledged and assigned to, or in trust for the benefit of, the holder or holders of the bonds. Source: SL 1972, ch 241, §41; SDCL Supp, §46-17A-40; SL 2011, ch 165, §301.
SD Codified L § 46A-1-43 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-43 - Recording not required for bond protection.

46A-1-43. Recording not required for bond protection.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 1972, ch 241, §42; SDCL Supp, §46-17A-41.
SD Codified L § 46A-1-44 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-44 - Validity of bonds not dependent upon signing officers remaining in office or regularity of proceedings.

46A-1-44. Validity of bonds not dependent upon signing officers remaining in office or regularity of proceedings.The bonds bearing the signatures of officers of the district in office on the date of the signing of the bonds are valid and binding obligations, notwithstanding that before the delivery of and payment for the bonds any person whose signature appears on the bonds may have ceased to be an officer. The validity of the bonds is not 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 with the bonds. Source: SL 1972, ch 241, §43; SDCL Supp, §46-17A-42; SL 2011, ch 165, §302.
SD Codified L § 46A-1-45 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-45 - Sale of bonds--Procedure and price.

46A-1-45. Sale of bonds--Procedure and price.All bonds issued under this chapter shall be sold in a manner and for a price or prices as the district shall determine. Source: SL 1972, ch 241, §44; SL 1980, ch 310, §11; SDCL Supp, §46-17A-43; SL 1988, ch 363, §3.
SD Codified L § 46A-1-46 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-46 - Negotiability of bonds.

46A-1-46. Negotiability of bonds.The coupon bonds shall be fully negotiable within the meaning of the Uniform Commercial Code, Title 57A of South Dakota Codified Laws. Source: SL 1972, ch 241, §45; SDCL Supp, §46-17A-44.
SD Codified L § 46A-1-47 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-47 - Bonds as legal investments for fiduciaries and financial institutions.

46A-1-47. Bonds as legal investments for fiduciaries and financial institutions.The state and all counties, 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. However, nothing 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 1972, ch 241, §46; SDCL Supp, §46-17A-45; SL 1993, ch 213, §242; SL 1995, ch 167, §188.
SD Codified L § 46A-1-48 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-48 - Bond and note proceeds--Payment into state treasury not required.

46A-1-48. Bond and note proceeds--Payment into state treasury not required.Notwithstanding the provisions of any other law, no moneys derived from the sale of bonds or notes issued under the provisions of this chapter, or pledged or assigned to or in trust for the benefit of the holder or holders of the bonds or notes, may be required to be paid into the state treasury. Source: SL 1972, ch 241, §47; SL 1976, ch 282, §5; SL 1980, ch 310, §12; SDCL Supp, §46-17A-46; SL 2011, ch 165, §303.
SD Codified L § 46A-1-49 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-49 - Financing agreements to lend bond proceeds--Board resolution.

46A-1-49. Financing agreements to lend bond proceeds--Board resolution.In addition to its other powers, the district may, by appropriate resolution of the Board of Water and Natural Resources, enter into financing agreements with any public entity or person to loan the proceeds of the district's bonds to any public entity or person for a project within or without a water development district, subject to the requirement of §46A-2-20, without regard to the limitations, provisions, or requirements of any other law except chapter 46A-2 and this chapter. The persons or public entities receiving this financing may apply the borrowed funds to the project without further authorization of the project by the Legislature. Source: SL 1980, ch 310, §2; SDCL Supp, §46-17A-46.1; SL 1984 (SS), ch 1, §64; SL 2011, ch 165, §304.
SD Codified L § 46A-1-50 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-50 - Financing agreements--Provisions to provide for and secure repayment of bonds and loan.

46A-1-50. Financing agreements--Provisions to provide for and secure repayment of bonds and loan.Any financing agreement under §46A-1-49 shall provide for repayment of the loan through payments sufficient to pay the principal of, premium if any, and interest on the bonds issued in connection with the agreement and, in order to provide for and secure the repayment of the bonds and the amounts owing under the financing agreement, may contain provisions requiring, among other things, any one or more parties to:(1)Incur a general obligation and to exercise its power to tax or levy special assessments;(2)Incur a limited obligation payable only from designated sources;(3)Pledge, assign, or mortgage any income and revenue (subject to the prior payment of the operation and maintenance expenses of the project) derived from the project; any fund, property or obligation related to such project; the loan proceeds themselves; any grant or loan received or to be received by a party; and the project, including real estate;(4)Create and maintain a reserve fund or funds through the levy of taxes or other suitable means within a party's power, for prevention of default;(5)Properly manage the project for the protection of the bondholders as provided in subdivisions 46A-1-38(2), (3), (4), and (8);(6)Refrain from creating or causing to be created any debt, lien, mortgage, pledge, assignment, encumbrance, or other charge upon any income, revenues or property;(7)Refrain from conveying or otherwise alienating project facilities or the real estate upon which the project is located or any property that is pledged or assigned;(8)Deposit with a trustee or trustees all or any part of the proceeds from the sale of the bonds or all or any part of the income and revenue pledged or assigned for the benefit of the bondholder; and(9)Perform any and all acts and do any and all things within the party's legal capacity as may be necessary, convenient, or desirable in order to provide for and secure the repayment of the bonds and the amounts owing under the financing agreement, notwithstanding that such terms are not enumerated herein. Source: SL 1980, ch 310, §3; SL 1981 (2d SS), ch 1, §21; SDCL Supp, §46-17A-46.2.
SD Codified L § 46A-1-51 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-51 - Financing agreements--Proper authority required.

46A-1-51. Financing agreements--Proper authority required.Before entering into any financing agreement under §46A-1-49, the Board of Water and Natural Resources shall be satisfied by opinion of the attorney general, by an examination of relevant charters, resolutions, minutes, and other documents, or by other sufficient means that the person or public entity receiving such financing has the authority and power to construct the project, borrow these funds and enter into the financing agreement. The board shall also be so satisfied that all procedures, resolutions, and other things necessary to exercise such authority have been properly performed. Source: SL 1980, ch 310, §4; SDCL Supp, §46-17A-46.3.
SD Codified L § 46A-1-52 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-52 - Financing agreements--Independent review of feasibility of project.

46A-1-52. Financing agreements--Independent review of feasibility of project.Before entering into any financing agreement under §46A-1-49, the Board of Water and Natural Resources shall conduct an independent review of the feasibility of the project to ensure that projected water consumption, operation costs, construction costs, revenues, and other statistics are reliable and that the project will be able to pay its costs and expenses. The board shall state the findings of its independent review in a motion entered in the minutes of its proceedings. Source: SL 1980, ch 310, §5; SDCL Supp, §46-17A-46.4.
SD Codified L § 46A-1-53 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-53 - Agreement as to custody and disposition of moneys.

46A-1-53. Agreement as to custody and disposition of moneys.The provisions of §46A-1-48 do not limit the power of the district to agree in connection with the issuance of any of its bonds as to the custody and the disposition of the moneys received from the sale of the bonds or from the income and revenues pledged or assigned to or in trust for the benefit of the holder of the bonds. Source: SL 1972, ch 241, §48; SDCL Supp, §46-17A-47; SL 2011, ch 165, §305.
SD Codified L § 46A-1-54 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-54 - Remedies of bondholders.

46A-1-54. Remedies of bondholders.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 1972, ch 241, §49; SDCL Supp, §46-17A-48.
SD Codified L § 46A-1-55 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-55 - Persons executing district notes or bonds not subject to personal liability.

46A-1-55. Persons executing district notes or bonds not subject to personal liability.Neither the members of the Board of Water and Natural Resources nor any other person executing the notes or bonds issued by the district shall be subject to personal liability or accountability by reason of the issuance thereof or any review or finding of feasibility under §46A-1-20 or 46A-1-52. Source: SL 1981 (2d SS), ch 1, §20; SDCL Supp, §46-17A-48.1.
SD Codified L § 46A-1-56 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-56 - Refunding bonds authorized for matured obligations.

46A-1-56. Refunding bonds authorized for matured obligations.The district may issue negotiable refunding bonds for the following purposes:(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 1972, ch 241, §50; SDCL Supp, §46-17A-49; SL 2011, ch 165, §306.
SD Codified L § 46A-1-57 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-57 - Sale of refunding bonds for matured obligations--Application of proceeds--Cancellation of instruments paid.

46A-1-57. Sale of refunding bonds for matured obligations--Application of proceeds--Cancellation of instruments paid.Refunding bonds issued pursuant to §46A-1-56 may be sold at such price as the district shall determine 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 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 1972, ch 241, §51; SDCL Supp, §46-17A-50; SL 1988, ch 363, §4; SL 1989, ch 385, §22.
SD Codified L § 46A-1-58 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-58 - Refunding bonds authorized for unmatured obligations.

46A-1-58. Refunding bonds authorized for unmatured obligations.The district may issue negotiable refunding bonds under the provisions of this chapter to refund bonds at or before 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 of the bonds; and(3)The applicable redemption premiums, if any. Source: SL 1972, ch 241, §52; SDCL Supp, §46-17A-51; SL 2011, ch 165, §307.
SD Codified L § 46A-1-59 (2021)
2021 South Dakota Codified Laws|Title 46A - Water Management|Chapter 01 - State Water Resources Management|Section 46A-1-59 - Sale of refunding bonds for unmatured obligations--Use of proceeds.

46A-1-59. Sale of refunding bonds for unmatured obligations--Use of proceeds.Refunding bonds issued pursuant to §46A-1-58 may be sold at a price determined by the district. All proceeds received at the sale of the refunding bonds (excepting the accrued interest received) shall be used:(1)If the bonds to be refunded are then due, for the payment of the bonds;(2)If the bonds to be refunded are voluntarily surrendered with the consent of the holder or holders of the bonds, for the payment of the bonds;(3)If the bonds to be refunded are then subject to prior redemption by their terms, for the redemption of the bonds;(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 if the obligations will mature at such times, with interest on the obligations or the proceeds received from the obligations, to provide funds adequate to pay when due or called for redemption before maturity the bonds to be refunded, together with the interest accrued on the bonds and any redemption premium due on the bonds. The 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. Any balance remaining in the escrow after the payment and retirement of the bonds to be refunded shall be returned to the district to be used and held for use as revenues pledged for the payment of the refunding bonds; or(5)For any combination of the purposes specified in subdivisions (1) to (4), inclusive, of this section. Source: SL 1972, ch 241, §53; SDCL Supp, §46-17A-52; SL 1988, ch 363, §5; SL 1989, ch 385, §23; SL 2011, ch 165, §308.