reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-38 - Annual informational budget required--Inclusion in Governor's budget report.

11-11-38. Annual informational budget required--Inclusion in Governor's budget report.
In addition to the reporting requirements imposed by §11-11-181, the authority shall annually submit an informational budget to the Governor through the Bureau of Finance and Management in accordance with §4-7-7.2. The informational budget submitted by the authority shall be submitted to the Legislature by the Governor in the budget report required by §4-7-9.
Source:
SL 1978, ch 213, §1; SDCL Supp, §28-19-34.1.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-39 - Acceptance of grants and contributions--Purposes to which applied.

11-11-39. Acceptance of grants and contributions--Purposes to which applied.
The authority may receive and accept aid or contributions, from any source, of money, property, labor, or other things of value, to be held, used, and applied to carry out the purposes of this chapter subject to such conditions upon which such grants and contributions may be made, including gifts or grants from any agency or instrumentality of the United States or of this state for payment of rent supplements to eligible persons or families or for the payment in whole or in part of the interest expense for a housing development or housing project or for any other purpose consistent with this chapter.
Source:
SL 1973, ch 180, §12 (10); SDCL Supp, §28-19-35; SL 2012, ch 78, §21.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-40 - Residual powers of authority.

11-11-40. Residual powers of authority.
The authority shall have the power to do any and all things necessary or convenient to carry out its purposes and exercise the powers given and granted in this chapter.
Source:
SL 1973, ch 180, §12 (29); SDCL Supp, §28-19-36.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-41 - Power to borrow and issue evidence of indebtedness.

11-11-41. Power to borrow and issue evidence of indebtedness.
The authority may borrow money and issue bonds and notes or other evidences of indebtedness as provided in this chapter.
Source:
SL 1973, ch 180, §12 (23); SDCL Supp, §28-19-37; SL 2012, ch 78, §22.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-42 - Financing, reserves, and incidental costs included in amounts borrowed.

11-11-42. Financing, reserves, and incidental costs included in amounts borrowed.
The authority may include in any borrowing such amounts as may be deemed necessary by the authority to establish reserves and to pay financing charges, interest on the obligations for a period not exceeding three years from their date, consultant advisory and legal fees, and such other expenses as are necessary or incident to such borrowing.
Source:
SL 1973, ch 180, §12 (18); SDCL Supp, §28-19-38; SL 1974, ch 195, §2; SL 2012, ch 78, §23.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-43 - Issuance of notes and bonds--Purposes for which used.

11-11-43. Issuance of notes and bonds--Purposes for which used.
The authority may issue from time to time its negotiable notes and bonds in such principal amount as the authority shall determine to be necessary to provide sufficient funds for achieving its corporate purposes, including the payment of interest on notes and bonds of the authority, establishment of reserves to secure such notes and bonds including the reserve funds created pursuant to §11-11-70, and all other expenditures of the authority incident to and necessary or convenient to carry out its corporate purposes and powers.
Source:
SL 1973, ch 180, §26; SDCL Supp, §28-19-39; SL 1978, ch 20, §8; SL 1979, ch 185, §1; SL 1980, ch 204, §3; SL 1987, ch 118, §1.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-45 - Qualified private activity bonds--Maximum aggregate principal amount.

11-11-45. Qualified private activity bonds--Maximum aggregate principal amount.
The authority may issue qualified private activity bonds at any time during a fiscal year in the aggregate principal amount as determined by the authority, and (except for bonds issued for the purpose of renewing, paying, or refunding outstanding bonds and interest pursuant to §11-11-50) as approved by the Governor. However, the aggregate principal amount of qualified private activity bonds issued in or with respect to any calendar year under §11-11-47 may not exceed the principal amount of the state ceiling for qualified private activity bonds applicable to the State of South Dakota for any calendar year and allocated to the authority for any such calendar year pursuant to §1-7-8 and the applicable executive order of the Governor.
Source:
SL 1980, ch 204, §4; SDCL Supp, §28-19-39.2; SL 1981, ch 221, §1; SL 1982, ch 214; SL 1983, ch 106, §1; SL 1984, ch 106, §1; SL 1985, ch 103, §1; SL 1986, ch 113; SL 1987, ch 118, §2; SL 2012, ch 78, §25.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-47 - Authority as state issuing agency and housing credit agency.

11-11-47. Authority as state issuing agency and housing credit agency.
The authority is an agency of the state which is an issuing authority within the meaning of §146 of the Internal Revenue Code of 1986 and the State Housing Credit Agency within the meaning of §42(h)(7)(A) of the Internal Revenue Code of 1986. The authority may administer the provisions of §42 of the Internal Revenue Code of 1986.
Source:
SL 1981, ch 221, §2; SDCL Supp, §28-19-39.4; SL 1984, ch 106, §2; SL 1987, ch 118, §3; SL 2012, ch 78, §26.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-48 - Compliance with federal conditions for qualified mortgage bonds.

11-11-48. Compliance with federal conditions for qualified mortgage bonds.
The authority may enter into all agreements and take any actions necessary to comply with all conditions set forth in §143 of the Internal Revenue Code of 1986, for the issuance of qualified mortgage bonds as therein defined.
Source:
SL 1981, ch 221, §3; SDCL Supp, §28-19-39.5; SL 1995, ch 80, §13; SL 2012, ch 78, §27.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-49 - Public debt not created by authority obligations--Statement on face of obligations.

11-11-49. Public debt not created by authority obligations--Statement on face of obligations.
Obligations issued under the provisions of this chapter shall not be deemed to constitute a debt or liability or obligation of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any political subdivision thereof but shall be payable solely from the revenues or assets of the authority. Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the authority shall not be obligated to pay the same nor the interest thereon except from the revenues or assets pledged therefor and that neither the faith and credit nor the taxing power of the state or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such obligation.
Source:
SL 1973, ch 180, §46; SDCL Supp, §28-19-40.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-50 - Refunding of notes and bonds.

11-11-50. Refunding of notes and bonds.
The authority shall have the power, from time to time, to issue:
(1)Notes to renew notes; and
(2)Bonds to pay notes
including the interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund bonds then outstanding and partly for any of its corporate purposes.
Source:
SL 1973, ch 180, §27; SDCL Supp, §28-19-41.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-51 - Consent of other public agencies not required for bonds or notes--Procedural requirements of other laws not applicable.

11-11-51. Consent of other public agencies not required for bonds or notes--Procedural requirements of other laws not applicable.
Bonds or notes may be issued under the provisions of this chapter without obtaining the consent of any department, division, commission, board, body, bureau, or agency of the state, and without any other proceedings or the happening of any conditions or things other than those proceedings, conditions, or things which are specifically required by this chapter and by the provisions of the resolution authorizing the issuance of such bonds or notes or the trust agreement securing the same.
Source:
SL 1973, ch 180, §33; SDCL Supp, §28-19-42.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-52 - Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.

11-11-52. Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.
The notes and bonds shall be authorized by resolutions of the authority, and shall bear such dates and shall mature at such times as such resolutions may provide. However, no bond may mature more than fifty years from the date of its issue. The bonds may be issued as serial bonds payable in annual installments or as term bonds or as a combination thereof. The notes and bonds shall bear interest at such rates, be in such denominations, be in such form, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such places within or without the state, and be subject to such terms of redemption as such resolutions may provide. The notes and bonds of the authority may be sold by the authority, at public or private sale, at such prices as the authority shall determine.
Source:
SL 1973, ch 180, §29; SDCL Supp, §28-19-43; SL 2012, ch 78, §28.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-53 - Notes and bonds as general obligations of authority--Exception.

11-11-53. Notes and bonds as general obligations of authority--Exception.
Except as may otherwise be expressly provided by resolution of the authority, every issue of its notes and bonds shall be general obligations of the authority payable out of any revenues or moneys of the authority, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues.
Source:
SL 1973, ch 180, §28; SDCL Supp, §28-19-44.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-54 - Bond resolution provisions--Contracts with bondholders.

11-11-54. Bond resolution provisions--Contracts with bondholders.
Any resolutions authorizing any bonds or any issue thereof may contain any of the following provisions, each of which shall be a part of the contracts with the holders thereof:
(1)Pledging all or any part of the revenues of the authority to secure the payment of the bonds or of any issue thereof, subject to such agreements with bondholders as may then exist;
(2)Pledging all or any part of the assets of the authority, including mortgages and obligations securing the same, to secure the payment of the bonds or of any issue of bonds, subject to such agreements with bondholders as may then exist;
(3)Limiting the purpose to which the proceeds of sale of bonds may be applied and pledging such proceeds to secure the payment of the bonds or of any issue thereof;
(4)Limiting the issuance of additional bonds; the terms upon which additional bonds may be issued and secured; and the refunding of outstanding or other bonds;
(5)Regarding the use and disposition of the gross income from mortgages owned by the authority and payment of principal of mortgages owned by the authority;
(6)Limiting the amount of moneys to be expended by the authority for operating expenses of the authority;
(7)Regarding the setting aside of reserves or sinking funds and the regulation and disposition thereof;
(8)Regarding the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto; and the manner in which such consent may be given;
(9)Vesting in a trustee such property, rights, powers, and duties in trust as the authority may determine, which may include any or all of the rights, powers, and duties of the trustee appointed by the bondholders pursuant to this chapter and limiting or abrogating the right of the bondholders to appoint a trustee under this chapter or limiting the rights, powers, and duties of such trustee;
(10)Defining the acts or omissions to act which constitute a default in the obligations and duties of the authority to the holders of the bonds and providing for the rights and remedies of the holders of the bonds in the event of such default, including as a matter of right the appointment of a receiver. However, the rights and remedies may not be inconsistent with the general laws of the state and the other provisions of this chapter; and
(11)Any other matters, of like or different character, which in any way affect the security or protection of the holders of the bonds.
Source:
SL 1973, ch 180, §30 (1); SDCL Supp, §28-19-45; SL 2012, ch 78, §29.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-65 - Trust indenture to secure bonds--Contents--Expenses of trust indenture--Separate trustee not authorized.

11-11-65. Trust indenture to secure bonds--Contents--Expenses of trust indenture--Separate trustee not authorized.
In the discretion of the authority, the bonds may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the power of a trust company within or without the state. Such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to the exercise of its corporate powers and the custody, safeguarding, and application of all moneys. The authority may provide by such trust indenture for the payment of the proceeds of the bonds and the revenues to the trustee under such trust indenture or other depository, and for the method of disbursement thereof, with such safeguards and restrictions as it may determine. All expenses incurred in carrying out such trust indenture may be treated as a part of the operating expenses of the authority. If the bonds shall be secured by a trust indenture, the bondholders shall have no authority to appoint a separate trustee to represent them.
Source:
SL 1973, ch 180, §35; SDCL Supp, §28-19-56.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-66 - Pledge binding when made--Attachment of lien.

11-11-66. Pledge binding when made--Attachment of lien.
Any pledge made by the authority shall be valid and binding from the time when the pledge is made. The revenues, moneys, or property so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority, irrespective of whether such parties have notice thereof.
Source:
SL 1973, ch 180, §31; SDCL Supp, §28-19-57.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-67 - Continuing validity of signatures by commissioners or officers.

11-11-67. Continuing validity of signatures by commissioners or officers.
If any of the commissioners, executive director, or officers of the authority whose signatures appear on any bonds ceases to be such commissioners, executive director, or officers before the delivery of such bonds, such signatures are, nevertheless, valid and sufficient for all purposes, the same as if such directors or officers had remained in office until such delivery.
Source:
SL 1973, ch 180, §37; SDCL Supp, §28-19-58; SL 2012, ch 78, §40.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-69 - Purpose of capital reserve fund requirements.

11-11-69. Purpose of capital reserve fund requirements.
To assure the continued operation and solvency of the authority for the carrying out of its corporate purposes, provision is made in §§11-11-70 to 11-11-75, inclusive, for the accumulation in each capital reserve fund created thereunder of an amount equal to the maximum capital reserve fund requirement for such fund.
Source:
SL 1973, ch 180, §39; SDCL Supp, §28-19-60.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-70 - Establishment of capital reserve funds--Moneys paid into funds.

11-11-70. Establishment of capital reserve funds--Moneys paid into funds.
The authority shall create and establish one or more special funds to be referred to in this chapter as capital reserve funds, and shall pay into each such capital reserve fund:
(1)Any moneys appropriated and made available by the state for the purpose of such fund;
(2)Any proceeds of sale of bonds, to the extent provided in the resolutions of the authority authorizing the issuance thereof; and
(3)Any other moneys which may be made available to the authority for the purpose of such fund from any other source or sources.
Source:
SL 1973, ch 180, §38; SDCL Supp, §28-19-61; SL 2012, ch 78, §42.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-71 - Amount required in capital reserve fund for each year.

11-11-71. Amount required in capital reserve fund for each year.
For the purposes of §§11-11-72 to 11-11-75, inclusive, the term "maximum capital reserve fund requirement" shall mean, as of any particular date of computation, an amount of money, if provided in the resolution or resolutions of the authority authorizing the bonds secured in whole or in part by such fund, such amount as may be provided therein, but not more than, the greatest of the respective amounts, for the current or any future fiscal year of the authority, of annual debt service on the bonds of the authority secured in whole or in part by such fund, such annual debt service for any fiscal year being the amount of money equal to the aggregate of:
(1)All interest payable during such fiscal year on all bonds secured in whole or in part by such fund outstanding on the date of computation, plus
(2)The principal amount of all such bonds outstanding on such date of computation which mature during such fiscal year, plus
(3)All amounts specified in any resolution of the authority authorizing any such bonds as payable during such fiscal year as an annual debt service fund payment with respect to any of such bonds which mature after such fiscal year.
Source:
SL 1973, ch 180, §38; SDCL Supp, §28-19-62; SL 1974, ch 195, §6.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-72 - Valuation of securities held by capital reserve funds.

11-11-72. Valuation of securities held by capital reserve funds.
In computing the amount of the capital reserve funds for the purpose of §§11-11-71 to 11-11-75, inclusive, securities in which all or a portion of such funds shall be invested shall be valued at par or if purchased at less than par, at their cost to the authority.
Source:
SL 1973, ch 180, §38; SDCL Supp, §28-19-63.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-73 - Transfer to other funds of capital reserve fund income.

11-11-73. Transfer to other funds of capital reserve fund income.
Any income or interest earned by, or increment to, any capital reserve fund due to the investment thereof may be transferred by the authority to other funds or accounts of the authority to the extent it does not reduce the amount of such capital reserve fund below the maximum capital reserve fund requirement for such fund.
Source:
SL 1973, ch 180, §38; SDCL Supp, §28-19-64.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-74 - Purposes to which moneys in reserve funds applied--Maintenance of required amount.

11-11-74. Purposes to which moneys in reserve funds applied--Maintenance of required amount.
All moneys held in any capital reserve fund, except as provided in §11-11-73, shall be used, as required, solely for the payment of the principal of bonds secured in whole or in part by such fund or of the debt service fund payments hereinafter mentioned with respect to such bonds, the purchase or redemption of such bonds, the payment of interest on such bonds, or the payment of any redemption premium required to be paid when such bonds are redeemed prior to maturity; provided, however, that moneys in any such fund shall not be withdrawn therefrom at any time in such amount as would reduce the amount of such fund to less than the maximum capital reserve requirement established for such fund as provided by §11-11-71 except for the purpose of making with respect to bonds secured in whole or in part by such fund payments, when due, of principal, interest, redemption premiums, and the debt service fund payments mentioned in §11-11-71 for the payment of which other moneys of the authority are not available.
Source:
SL 1973, ch 180, §38; SDCL Supp, §28-19-65.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-75 - Deposit in reserve fund of bond proceeds necessary to maintain required amount.

11-11-75. Deposit in reserve fund of bond proceeds necessary to maintain required amount.
The authority shall not at any time issue bonds secured in whole or in part by a capital reserve fund if upon the issuance of such bonds, the amount in such capital reserve fund will be less than the maximum capital reserve fund requirement for such fund, unless the authority at the time of issuance of such bonds shall deposit in such fund from the proceeds of the bonds so to be issued, or from other sources, an amount which together with the amount then in such fund, will not be less than the maximum capital reserve requirement for such fund.
Source:
SL 1973, ch 180, §38; SDCL Supp, §28-19-66.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-76 - Annual budget estimate for restoration of capital reserve fund--Governor's budget--Deposit of appropriated funds.

11-11-76. Annual budget estimate for restoration of capital reserve fund--Governor's budget--Deposit of appropriated funds.
The chairman of the authority shall annually submit through the Bureau of Finance and Management to the Governor, in accordance with §4-7-7, a budget estimate stating the sum, if any, needed to restore the capital reserve fund to the maximum capital reserve fund requirement for such fund. If the chairman certifies a need to restore the capital reserve fund to its maximum requirement, the Governor shall submit a budget in accordance with §4-7-9 including the sum required to restore the capital reserve fund to its maximum requirement. All sums appropriated and paid shall be deposited by the authority in the applicable capital reserve fund.
Source:
SL 1973, ch 180, §40; SDCL Supp, §28-19-67; SL 1978, ch 214, §1.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-77 - Other funds created by authority.

11-11-77. Other funds created by authority.
The authority shall create and establish such other fund or funds as may be necessary or desirable for its corporate purposes.
Source:
SL 1973, ch 180, §41; SDCL Supp, §28-19-68.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-78 - Purchase of authority's own bonds--Cancellation--Resale.

11-11-78. Purchase of authority's own bonds--Cancellation--Resale.
The authority may, subject to any agreement with bondholders, purchase bonds of the authority out of any funds or money of the authority available therefor, and hold, cancel, or resell such bonds.
Source:
SL 1973, ch 180, §12 (19); SDCL Supp, §28-19-69; SL 2012, ch 78, §43.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-79 - Price of bonds repurchased for cancellation.

11-11-79. Price of bonds repurchased for cancellation.
The authority, subject to such agreements with bondholders as may then exist, may, out of any funds available therefor, purchase bonds of the authority for cancellation. Upon such purchase the bonds shall be canceled, at a price not exceeding:
(1)If the bonds are then redeemable, the redemption price then applicable plus accrued interest to the next interest payment thereon; or
(2)If the bonds are not then redeemable, the redemption price applicable on the first date after such purchase upon which the bonds become subject to redemption plus accrued interest to such date.
Source:
SL 1973, ch 180, §34; SDCL Supp, §28-19-70; SL 2012, ch 78, §44.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-80 - Refunding obligations authorized--Application of provisions applicable to original obligations.

11-11-80. Refunding obligations authorized--Application of provisions applicable to original obligations.
The authority may provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such obligations and for any corporate purpose of the authority. The issuance of such obligations, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties, and obligations of the authority in respect of the same shall be governed by the provisions of this chapter which relate to the issuance of obligations, insofar as such provisions may be appropriate therefor.
Source:
SL 1973, ch 180, §42; SDCL Supp, §28-19-71.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-81 - Sale or exchange of refunding obligations--Investment of proceeds pending redemption of original obligations.

11-11-81. Sale or exchange of refunding obligations--Investment of proceeds pending redemption of original obligations.
Refunding obligations issued as provided in §11-11-80 may be sold or exchanged for outstanding obligations issued under this chapter and, if sold, the proceeds thereof may be applied, in addition to any other authorized purposes, to the purchase, redemption, or payment of such outstanding obligations. Pending the application of the proceeds of any such refunding obligations, with any other available funds, to the payment of the principal, accrued interest, and any redemption premium on the obligations being refunded, and, if so provided or permitted in the resolution authorizing the issuance of such refunding obligations or in the trust agreement securing the same, to the payment of any interest on such refunding obligations and any expenses in connection with such refunding, such proceeds may be invested in direct obligations of, or obligations the principal of and the interest on which are unconditionally guaranteed by the United States of America which shall mature or which shall be subject to redemption by the holders thereof, at the option of such holders, not later than the respective dates when the proceeds, together with the interest accruing thereon, will be required for the purposes intended.
Source:
SL 1973, ch 180, §43; SDCL Supp, §28-19-72.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-82 - Compliance with certain other state laws not required.

11-11-82. Compliance with certain other state laws not required.
The issuance of bonds and the refunding of bonds under the provisions of this chapter need not comply with the requirements of any other state law applicable to the issuance of bonds or other obligations. Contracts for the construction and acquisition of any housing developments undertaken pursuant to this chapter need not comply with the provisions of any other state law applicable to contracts for the construction and acquisition of state owned property. No proceedings, notice, or approval are required for the issuance of any bonds or any instrument as security therefor, except as provided in this chapter.
Source:
SL 1973, ch 180, §51; SDCL Supp, §28-19-73; SL 2012, ch 78, §45.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-83 - Appointment of trustee by bondholders after authority default.

11-11-83. Appointment of trustee by bondholders after authority default.
If the authority defaults in the payment of principal or of interest on any bonds issued under this chapter after the bonds become due, whether at maturity or upon call for redemption, and such default continues for a period of thirty days, or if the authority fails or refuses to comply with the provisions of this chapter, or defaults in any agreement made with the holders of an issue of bonds of the authority, the holders of twenty-five percent in aggregate principal amount of the bonds of such issue then outstanding, by instruments filed in the Office of the Secretary of State and proved or acknowledged in the same manner as a deed to be recorded, may appoint a trustee to represent the holders of such bonds for the purposes provided in §11-11-84.
Source:
SL 1973, ch 180, §44; SDCL Supp, §28-19-74; SL 2012, ch 78, §46.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-84 - Enforcement of bondholders' rights.

11-11-84. Enforcement of bondholders' rights.
A trustee appointed pursuant to §11-11-83 may, and upon written request of the holders of fifty percent in principal amount of such bonds then outstanding shall, in the holder's own name, enforce all rights of the bondholders, including the right to:
(1)Require the authority to collect interest and amortization payments on the mortgages held by it adequate to carry out any agreement as to, or pledge of, such interest and amortization payments;
(2)Require the authority to carry out any other agreements with the holders of such bonds and to perform its duties under this chapter;
(3)Collect and enforce the payment of principal of and interest due or becoming due on loans to mortgage lenders and collect and enforce any collateral securing such loans or sell such collateral;
(4)Declare all such bonds due and payable, and if all defaults shall be made good, then with the consent of the holders of fifty percent of the principal amount of such bonds then outstanding, annul such declaration and its consequences, provided that before declaring the principal of bonds due and payable, the trustee shall first give thirty days' notice in writing to the Governor, to the authority, and to the attorney general of the state;
(5)Bring suit upon all or any part of such bonds;
(6)By action or suit, enjoin any acts or things which may be unlawful or in violation of the rights of the holders of such bonds, and require the authority to account as if it were the trustee of an express trust for the holders of such bonds; and
(7)In addition to the foregoing subdivisions, have and possess all the powers necessary or appropriate for the exercise of any functions specifically set forth in this section or incident to the general representation of bondholders in the enforcement and protection of their rights.
Source:
SL 1973, ch 180, §44 (1); SDCL Supp, §28-19-75; SL 2012, ch 78, §47.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-91 - Circuit court jurisdiction of proceedings by trustee.

11-11-91. Circuit court jurisdiction of proceedings by trustee.
The circuit court has jurisdiction of any suit, action, or proceeding by the trustee on behalf of bondholders.
Source:
SL 1973, ch 180, §44; SDCL Supp, §28-19-82; SL 2012, ch 78, §54.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-93 - State pledge to bondholders.

11-11-93. State pledge to bondholders.
The state hereby pledges to and agrees with the holders of any bonds issued under this chapter that the state will not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreements made with the holders thereof or in any way impair the rights and remedies of the holders until the bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The authority may include this pledge and agreement of the state in any agreement with the holders of the bonds.
Source:
SL 1973, ch 180, §45; SDCL Supp, §28-19-84; SL 2012, ch 78, §56.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-94 - Commissioners and executive director not personally liable.

11-11-94. Commissioners and executive director not personally liable.
Neither the commissioners or executive director of the authority nor any other person executing such bonds is subject to any personal liability or accountability by reason of the issuance of such bonds.
Source:
SL 1973, ch 180, §32; SDCL Supp, §28-19-85; SL 2012, ch 78, §57.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-95 - Negotiability of bonds.

11-11-95. Negotiability of bonds.
Whether or not the bonds are of the form and character as to be negotiable instruments under the terms of the South Dakota Uniform Commercial Code, the bonds are hereby made negotiable instruments within the meaning of and for all the purposes of the South Dakota Uniform Commercial Code, subject only to the provisions of the bonds for registration.
Source:
SL 1973, ch 180, §36; SDCL Supp, §28-19-86; SL 2012, ch 78, §58.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-96 - Securities regulation--Bonds treated as securities of state instrumentality.

11-11-96. Securities regulation--Bonds treated as securities of state instrumentality.
For the purposes of chapter 47-31B, bonds issued by the authority are deemed to be securities issued by a public instrumentality of the State of South Dakota.
Source:
SL 1973, ch 180, §50; SDCL Supp, §28-19-87; SL 1989, ch 30, §33; SL 2004, ch 278, §59.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-97 - Bonds as legal investments for financial institutions and fiduciaries.

11-11-97. Bonds as legal investments for financial institutions and fiduciaries.
The state and all counties, municipalities, villages, and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, and all personal representatives, guardians, 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. The bonds may be deposited or segregated in lieu of surety bonds to secure deposits of any public funds, as provided in §4-6A-3 and any other law relating to the securing of public deposits.
Source:
SL 1973, ch 180, §47; SDCL Supp, §28-19-88; SL 1974, ch 195, §8; SL 1992, ch 60, §2; SL 2012, ch 78, §59.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-97.1 - Authority may contract to manage payment or interest rate risk for bonds.

11-11-97.1. Authority may contract to manage payment or interest rate risk for bonds.
The authority may enter into any contract that the authority determines necessary or appropriate to manage payment or interest rate risk for bonds issued pursuant to this chapter, the investment of proceeds, or other funds of the authority. The contracts may include: interest rate exchange agreements; contracts providing for payment or receipt of funds based on levels of or changes in interest rates; contracts to exchange cash flows or series of payments; or contracts incorporating interest rate caps, collars, floors, or locks.
Source:
SL 2003, ch 10, §5.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-98 - Investment of authority funds.

11-11-98. Investment of authority funds.
The authority may, subject to any agreement with bondholders, invest moneys of the authority, including proceeds from the sale of any bonds, in:
(1)Direct obligations of or obligations guaranteed as to principal and interest by the United States of America or the State of South Dakota;
(2)Bonds, notes, or other obligations issued by the government national mortgage association, any federal land bank, bank for cooperatives, federal intermediate credit banks, or any or all of the federal farm credit banks, the federal home loan bank system, the federal home loan mortgage corporation, or the federal national mortgage association, or any other federal entity to which similar powers have been granted;
(3)Negotiable or nonnegotiable certificates of deposit issued by any bank as defined in subdivision 51A-1-2(2) or any federally chartered bank located within the state which is insured by the Federal Deposit Insurance Corporation, if then in existence;
(4)Any other obligations of the state or of the United States of America or any agency or instrumentality of either thereof which may then be purchased with funds belonging to the state or held in the state treasury; or
(5)Such securities and deposit accounts as are permissible for the investment of state public funds by the state investment officer under the provisions of §4-5-26.
Source:
SL 1973, ch 180, §12 (17); SDCL Supp, §28-19-89; SL 1974, ch 195, §1; SL 1979, ch 37, §5; SL 2012, ch 78, §60.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-100 - Acquisition and disposition of property.

11-11-100. Acquisition and disposition of property.
The authority may acquire real or personal property, or any interest therein, on either a temporary or long-term basis in the authority's own name by gift, purchase, transfer, foreclosure, lease, or otherwise, including rights or easements in real property; hold, sell, assign, lease, encumber, mortgage, or otherwise dispose of any real or personal property or any interest therein; hold, sell, assign, or otherwise dispose of any mortgage lien interest owned by the authority or under the authority's control, custody, or in the authority's possession; and release or relinquish any right, title, claim, lien, interest, easement, or demand however acquired, including any equity or right of redemption in property foreclosed by the authority and do any of the foregoing by public or private sale, with or without public bidding, notwithstanding the provisions of any other law.
Source:
SL 1973, ch 180, §12 (7); SDCL Supp, §28-19-91; SL 2012, ch 78, §62.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-101 - Exemption of authority from taxes, recording fees and transfer taxes.

11-11-101. Exemption of authority from taxes, recording fees and transfer taxes.
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, for their well being and prosperity and for the improvement of their social and economic conditions, and the authority shall not be required to pay any tax or assessment of any kind on any property owned by the authority under the provisions of this chapter or upon the income therefrom; nor shall the authority be required to pay any recording fee or transfer tax of any kind on account of instruments recorded by it or on its behalf.
Source:
SL 1973, ch 180, §50; SDCL Supp, §28-19-92.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-114 - Confidentiality of applications and financial information.

11-11-114. Confidentiality of applications and financial information.
All applications for a mortgage under the single-family homeownership program, and all financial statements, income statements, income tax returns, and other information, if any, required to accompany such applications under regulations of the authority shall be confidential, except for official purposes in the same manner and subject to the same penalty for unlawful disclosure as are provided for tax returns in §§10-1-28.1 to 10-1-28.9, inclusive.
Source:
SL 1980, ch 204, §9; SDCL Supp, §28-19-102.3; SL 1983, ch 106, §4Q.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-115 - Applications--Signatures and certification required--Perjury.

11-11-115. Applications--Signatures and certification required--Perjury.
Each application submitted to the authority shall be signed by the applicant and by an officer of the originating mortgage lender and shall certify under oath subject to penalties for perjury that all material facts have been disclosed to the best of the knowledge of the signatories. Allegations of perjury in such cases shall be referred by the authority to the attorney general for investigation and prosecution.
Source:
SL 1980, ch 204, §10; SDCL Supp, §28-19-102.4.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-117 - Construction to be substantially completed, or final insurance or guarantee certificate issued before loan disbursed.

11-11-117. Construction to be substantially completed, or final insurance or guarantee certificate issued before loan disbursed.
The authority may not disburse a loan for the acquisition of a homeownership housing unit until construction is substantially complete or the final insurance or guarantee certificate has been issued.
Source:
SL 1980, ch 204, §17; SDCL Supp, §28-19-102.6; SL 1981, ch 221, §4; SL 1995, ch 80, §17.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-118 - Additional lending powers of authority.

11-11-118. Additional lending powers of authority.
The authority shall have all the powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including the powers set forth in §§11-11-119 to 11-11-135, inclusive, in addition to others herein granted.
Source:
SL 1973, ch 180, §17; SDCL Supp, §28-19-103.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-119 - Purchase of mortgages from mortgage lenders.

11-11-119. Purchase of mortgages from mortgage lenders.
The authority may invest in, purchase or make commitments to purchase, and take assignments from mortgage lenders, of notes and mortgages evidencing loans for the construction, rehabilitation, purchase, leasing, or refinancing of housing in this state.
Source:
SL 1973, ch 180, §17 (1); SDCL Supp, §28-19-104; SL 1983, ch 106, §4S; SL 2012, ch 78, §74.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-120 - Purchase of securities from mortgage lenders.

11-11-120. Purchase of securities from mortgage lenders.
The authority may, pursuant to this section but not subject to other provisions of this chapter, purchase or commit to purchase securities from mortgage lenders if:
(1)Payment of the securities are guaranteed or insured by an agency or instrumentality of the United States government, subject to any limit on the amount of the beneficial interest of any single entity which is so guaranteed or insured under federal law or regulation, or insured by an insurance company qualified to write such insurance in the state, insuring not less than twenty percent of the security evidencing an interest in mortgage loans; and
(2)(a)The securities evidence an interest in, or are payable from, mortgage loans for residential housing; or
(b)The securities are a debt obligation of the mortgage lenders and the proceeds of the securities or their equivalent are required to be reinvested in mortgage loans for residential housing, or invested in short term obligations pending the reinvestment in such mortgage loans.
Source:
SL 1974, ch 195, §4; SDCL Supp, §28-19-104.1; SL 1983, ch 106, §2.
2023 South Dakota Codified Laws › Title 11 - Planning, Zoning and Housing Programs › Chapter 11 - South Dakota Housing Development Authority › Section 11-11-122 - Loans to mortgage lenders for new residential mortgages.

11-11-122. Loans to mortgage lenders for new residential mortgages.
The authority may make loans to mortgage lenders under terms and conditions requiring the proceeds to be used by such mortgage lenders for the making of new residential mortgages.
Source:
SL 1973, ch 180, §17 (2); SDCL Supp, §28-19-105; SL 2012, ch 78, §76.