reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-13.10 - Lewis and Clark Rural Water System authorized.

46A-1-13.10. Lewis and Clark Rural Water System authorized.
Pursuant to §§46A-1-11 to 46A-1-13, inclusive, construction of the South Dakota project features of a two hundred seventy-two million eight hundred thousand dollar Lewis and Clark Rural Water System as generally described in the report "Feasibility Level Evaluation of a Missouri River Regional Water Supply for South Dakota, Iowa and Minnesota" dated September 1993, is hereby authorized for the purposes of providing safe and adequate municipal, rural and industrial water supplies as well as mitigation of wetlands and water conservation in the counties of Union, Clay, Lincoln, Turner, Minnehaha, McCook, and Lake.
There is hereby authorized state grants in the amount of nineteen million six hundred eighty-five thousand dollars ($19,685,000), or so much thereof as may be necessary, to provide the State of South Dakota's portion of the nonfederal matching requirement for the Lewis and Clark Rural Water System. No disbursements may be made under the grant authorized by this section unless funds are appropriated by the Legislature. Grant terms and conditions shall be set by the Board of Water and Natural Resources.
The grant authorized by this section may be increased or decreased by such amounts as may be justified by reason of ordinary fluctuations in development costs incurred after September 1993, as indicated by engineering costs indices applicable for the type of construction involved.
For purposes of §1.103-1 of the federal income tax regulations, Lewis and Clark Rural Water System, Inc. is hereby recognized as a corporation authorized to act on behalf of its members, including its South Dakota member governmental units, to provide drinking water to their communities, and to issue debt obligations in its own name on behalf of some or all of its members. However, no South Dakota member governmental unit is liable for the payment of principal of or interest on such obligations.
Source:
SL 1993, ch 48, §41; SL 2001, ch 242, §6; SL 2003, ch 233, §2; SL 2007, ch 256, §2, eff. Feb. 28, 2007; SL 2008, ch 235, §2, eff. Feb. 27, 2008.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-13.11 - Southern Black Hills Water System authorized.

46A-1-13.11. Southern Black Hills Water System authorized.
Pursuant to §§46A-1-11 to 46A-1-13, inclusive, construction of a seventy-seven million eight hundred thousand dollar Southern Black Hills Water System as generally described in the report "Southern Black Hills Water System Preliminary Engineering Report", dated February, 2005, is hereby authorized for the purposes of providing safe and adequate municipal, rural, and industrial water supplies in the counties of Custer, Fall River, and Pennington.
There is hereby authorized from the South Dakota water and environment fund established pursuant to §46A-1-60, a grant in the amount of twelve million dollars, or so much thereof as may be necessary, to provide the State of South Dakota's portion of the nonfederal matching requirement for the Southern Black Hills Water System. No disbursements may be made under the grant authorized by this section unless funds are appropriated by the Legislature in conformance with §46A-1-61. Funds appropriated for the Southern Black Hills Water System since January 1, 2006, shall be considered as part of the State of South Dakota's portion of the match requirement. Grant terms and conditions shall be set by the Board of Water and Natural Resources.
Source:
SL 2010, ch 217, §3, eff. Mar. 23, 2010.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-13.12 - Belle Fourche irrigation upgrade project authorized.

46A-1-13.12. Belle Fourche irrigation upgrade project authorized.
Pursuant to §§46A-1-11 to 46A-1-13, inclusive, construction of a five million dollar Belle Fourche irrigation upgrade project to include replacement of the Indian Creek siphon, the Horse Creek siphon, the north canal control house, and the south canal control house, repair of the Belle Fourche River siphon, and removal of sediment from the south canal intake is hereby authorized for the purpose of stabilizing crop and forage production in central western South Dakota to offset the effects of drought conditions which naturally devastate South Dakota's economic viability.
The Board of Water and Natural Resources may provide loans under the state water resources management system revolving loan program in amounts not to exceed a total of two million five hundred thousand dollars to the Belle Fourche irrigation upgrade project. No disbursements may be made under the loans authorized by this section unless funds are appropriated by the Legislature in conformance with §46A-1-61. Notwithstanding the provisions of §46A-1-66, no interest may accrue until the Board of Water and Natural Resources certifies the completion of the construction of the project as authorized. The initial loan repayment is due and payable one year following the certification of construction completion. Loan terms and conditions shall be set by the Board of Water and Natural Resources. Notwithstanding the provisions of §§46A-6-31 to 46A-6-38, inclusive, no court approval or confirmation of the loans is required.
The Board of Water and Natural Resources may provide grants in amounts not to exceed two million five hundred thousand dollars, or so much thereof as may be necessary, to the Belle Fourche irrigation upgrade project. No disbursements may be made under the grant authorized by this section unless funds are appropriated by the Legislature in conformance with §46A-1-61.
The loan and grant authorized by this section may be increased or decreased by such amounts as may be justified by reason of ordinary fluctuations in development costs incurred after January 1, 2012, as indicated by engineering costs indices applicable for the type of construction involved.
Source:
SL 2012, ch 221, §4, eff. Mar. 2, 2012.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-14 - Annual report of activities of board--Contents.

46A-1-14. Annual report of activities of board--Contents.
January first of every year, the Board of Water and Natural Resources shall make an annual report to the Governor and the Legislature setting forth all activities that it has engaged in during the preceding year. The board shall include within the annual report detailed accounts of all expenditures from the South Dakota water and environment fund created in §46A-1-60, setting forth descriptions of the purposes of all such expenditures. These reports shall be filed on or before the first legislative day of each session and shall show schedules of expenditures and all other purposes and uses which have been realized and accomplished through the development of the system. The annual report shall also include recommendations on the levels and allocation of funding necessary to implement the state water plan.
Source:
SL 1972, ch 241, §20; SDCL Supp, §46-17A-19; SL 1986, ch 291, §2; SL 1992, ch. 254, §8.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-15 - Consideration of wild, scenic, and recreational rivers.

46A-1-15. Consideration of wild, scenic, and recreational rivers.
The Board of Water and Natural Resources shall along with its review of the state water plan consider, in cooperation with the Game, Fish and Parks Commission, the designation of certain rivers or sections of rivers as "wild, scenic, and recreational rivers" upon which no development may occur that is detrimental to the natural and scenic beauty of the designated river.
Source:
SL 1972, ch 241, §21; SDCL Supp, §46-17A-20; SL 2011, ch 165, §288.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-17 - Borrowing on interim notes--Expenses paid and loans made from proceeds--Issuance of notes.

46A-1-17. Borrowing on interim notes--Expenses paid and loans made from proceeds--Issuance of notes.
The district may borrow money and issue interim notes in evidence thereof to perform any of the duties authorized under this chapter, including the payment of expenses to be incurred for planning, architectural, engineering, legal, and financial services, the acquisition of a site or sites, construction of projects, and the purchase of fixtures and equipment the making of loans authorized by §46A-1-18, the funding of debt service reserves and capitalized interest and the payment of the costs of issuance. The district may from time to time, and pursuant to appropriate resolution, issue interim notes to evidence such borrowings including interest on such borrowings and all necessary and incidental expenses in connection with any of the purposes provided for by this chapter until the date of the permanent financing.
Source:
SL 1972, ch 241, §25; SL 1979, ch 301, §4; SDCL Supp, §46-17A-23.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-18 - Loan of interim note proceeds to public entity or person for project that state or federal agency is committed to finance--Notes issued prior to financing arrangement.

46A-1-18. Loan of interim note proceeds to public entity or person for project that state or federal agency is committed to finance--Notes issued prior to financing arrangement.
In addition to its other powers, the district may enter into financing arrangements with any public entity or person to loan the proceeds of the district's interim notes to any public entity or person for a project anywhere within this state. The district may adopt the necessary resolution for the loan without specific authorization of the Legislature and without regard to the limitations, provisions, or requirements of any other law except this chapter and chapter 46A-2, and in addition to the aggregate indebtedness otherwise authorized by the Legislature if an agency of the State of South Dakota or an agency or instrumentality of the United States government has committed itself to make a grant or loan to the public entity or person. Under this section, the district may only provide interim financing less than or equal to the combined federal and state grant or loan commitments on each project and may not apply the proceeds of the interim notes and financing to any purpose other than expenses allowed by §46A-1-17 and the project for which the financing arrangement is made. The person or public entity receiving this interim financing may apply the proceeds of the district's interim notes to the project without specific authorization of the project by the Legislature.
Notes to make loans pursuant to this section may be issued before the district has entered into any financing arrangement if the principal amount of notes does not exceed the amount which the district estimates to be required to enter into financing arrangements and if a grant or loan commitment is received before the district lends note proceeds pursuant to any financing arrangement.
Source:
SL 1979, ch 301, §5; SL 1980, ch 309, §1; SL 1980, ch 310, §16; SDCL Supp, §46-17A-23.1; SL 1983, ch 315, §14; SL 2011, ch 165, §289.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-19 - Interim financing--Proper authority required.

46A-1-19. Interim financing--Proper authority required.
Before entering into any financing arrangement under §46A-1-18, 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 interim financing has the authority and power to construct that project, borrow these funds, and enter into the financing arrangement. The board shall also be so satisfied that all procedures, resolutions, and other things necessary to exercise such authority and power have been properly performed.
Source:
SL 1979, ch 301, §12; SDCL Supp, §46-17A-23.2.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-20 - Interim financing--Independent review of feasibility of project.

46A-1-20. Interim financing--Independent review of feasibility of project.
Before issuing any interim notes pursuant to §46A-1-18, 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 expenses. The board shall state the findings of its independent review in a motion entered in the minutes of its proceedings.
Source:
SL 1979, ch 301, §14; SDCL Supp, §46-17A-23.3.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-21 - Interim financing--Proceeds pledged as security--Assignment to district of rights to proceeds.

46A-1-21. Interim financing--Proceeds pledged as security--Assignment to district of rights to proceeds.
Any interim financing arrangement under §46A-1-18 shall provide that the person or public entity receiving the proceeds of such interim financing shall pledge and dedicate the proceeds of its loan or grant from the United States as security for the interim notes issued pursuant to the financing arrangement. In addition, the execution of any interim financing arrangement under §46A-1-18 shall constitute an assignment to the district of the right to receive the proceeds of the federal loan or grant so far as is necessary to secure the interim notes issued pursuant to the arrangement and in preference to any other obligation whatsoever of the person or public entity receiving the interim financing.
Source:
SL 1979, ch 301, §13; SDCL Supp, §46-17A-23.4.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-22 - Terms of interim notes.

46A-1-22. Terms of interim notes.
Any resolution authorizing the issuance of such notes shall specify the principal amount, rate of interest and maturity date, but not to exceed five years from date of issue, and such other terms as may be specified in such resolution.
Source:
SL 1972, ch 241, §26; SDCL Supp, §46-17A-24; SL 1986, ch 367.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-23 - Security for interim notes.

46A-1-23. Security for interim notes.
All such notes and the interest on the notes may be secured by a pledge of, and payable from, any income and revenue (subject to the prior payment of the operation and maintenance expenses of any project) derived from the project to be undertaken with the proceeds of the notes; the proceeds to be derived from the sale of any revenue bonds for permanent financing authorized to be issued under this chapter; the project itself; any funds, property, or obligation of any public entity or person with whom the district has entered into a financing arrangement under §46A-1-18 in connection with the project; the proceeds of the notes; or any grant or loan to be made by an agency or instrumentality of the United States government in connection with the project.
Source:
SL 1972, ch 241, §27; SL 1979, ch 301, §7; SDCL Supp, §46-17A-25; SL 2011, ch 165, §290.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-24 - Additional covenants and conditions to secure interim notes.

46A-1-24. Additional covenants and conditions to secure interim notes.
The district, in order further to secure the payment of the interim notes, may make any other or additional covenants, terms, and conditions not inconsistent with the provisions of this chapter, and do anything that may be necessary or convenient or desirable in order to secure payment of its interim notes, or in the discretion of the district, as will tend to make the interim notes more acceptable to lenders, notwithstanding that the covenants, acts, or things may not be enumerated in this chapter.
Source:
SL 1972, ch 241, §28; SDCL Supp, §46-17A-26; SL 2011, ch 165, §291.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-25 - Registration of interim notes--Interest payment--Redemption prior to maturity.

46A-1-25. Registration of interim notes--Interest payment--Redemption prior to maturity.
The district 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 district may determine by the resolution authorizing their issue. 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 district, in the manner and upon the terms fixed by the resolution authorizing their issuance.
Source:
SL 1972, ch 241, §29; SDCL Supp, §46-17A-27.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-26 - Execution and attestation of interim notes--Sale.

46A-1-26. Execution and attestation of interim notes--Sale.
The notes may be executed by the chairman of the board and shall be attested by the secretary of the Department of Agriculture and Natural Resources. The district may by resolution provide that any signatures, other than the authentication signature of the trustee, on the notes may be printed, lithographed, engraved, or otherwise reproduced on the notes. The notes shall be sold in a manner and at a price determined by the district by resolution.
Source: SL 1972, ch 241, §30; SL 1979, ch 301, §8; SDCL Supp, §46-17A-28; SL 1985, ch 352; SL 2011, ch 165, §292; SL 2021, ch 1 (Ex. Ord.
21-3
), § 53, eff. Apr. 19, 2021.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-27 - Bond provisions applicable to interim financing.

46A-1-27. Bond provisions applicable to interim financing.
The provisions of §§46A-1-38 to 46A-1-44, inclusive, §46A-1-46, §46A-1-49, §46A-1-54, §§46A-1-56 to 46A-1-59, inclusive, and §46A-1-70, relating to bonds shall also apply to notes issued pursuant to §46A-1-17.
Source:
SL 1979, ch 301, §9; SDCL Supp, §46-17A-28.1.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-28 - Payment of interim notes on issue of revenue bonds.

46A-1-28. Payment of interim notes on issue 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.
Source:
SL 1972, ch 241, §31; SDCL Supp, §46-17A-29.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-29 - Plan for project financing to be submitted to Legislature--Authorization for bond issuance--Amount of bonds.

46A-1-29. Plan for project financing to be submitted to Legislature--Authorization for bond issuance--Amount of bonds.
Upon presentation of a request to authorize the construction of a water facility of the state water resources management system by the Board of Water and Natural Resources in accordance with §46A-1-11, the board shall provide a plan for financing the construction of the project to the Legislature, including, in the case of a project to be financed under §46A-1-49, a general description of the anticipated financing agreement with the participating persons or public entities. If the board deems it necessary to request authorization for the issuance of bonds by the district, the Legislature shall determine whether such authorization shall be given in the same act as it authorizes the inclusion of construction of the project as part of the state water resources management system. If the Legislature authorizes the issuance of bonds for the construction of the facilities, it shall specify the amount of bonds that may be issued by the district for construction of the project, including any amount of bonds issued to fund a debt service reserve for the bonds or for capitalized interest during construction of the project. Pursuant to authorization by the Legislature, the district may issue bonds to acquire or construct or arrange for construction of, or to enter into a financing agreement with persons or public entities for, any one project, or more than one, or to refund bonds heretofore or hereafter issued for each project or facility or to fund a debt service reserve for the bonds or for capitalized interest during construction of the project and to provide for the security and payment of the bonds and for the rights of the holders of the bonds. The board may issue bonds in the amount of up to thirty percent greater than the specific amount authorized by the Legislature for financing any specific project if increases in construction costs, changes in engineering designs, or minor changes in the area or number of persons served by a project require such an increase to complete the project, and if the amount of funds obtained from the district through its bonding power does not exceed the authorization of the Legislature by more than thirty percent for any specific project.
Source:
SL 1972, ch 241, §24; SL 1977, ch 377, §1; SL 1980, ch 310, §6; SDCL Supp, §46-17A-30; SL 2011, ch 165, §293.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-30 - Purposes for bond issuance.

46A-1-30. Purposes for bond issuance.
The district may issue bonds authorized by the Legislature pursuant to §46A-1-29 or by §46A-1-31 for the following purposes, which are hereby determined to be in the public interest and to constitute lawful and public purposes:
(1)To acquire, construct, plan, or arrange for acquisition and construction of any one project, or more than one;
(2)To issue bonds to effectuate §46A-2-16;
(3)To refund bonds heretofore and hereafter issued, including the refunding of bonds in advance of their call or maturity date. The refunding bonds may be partially or wholly secured by and payable from obligations of the United States government or the income from such obligations;
(4)To fund a debt service reserve for the bonds;
(5)To provide for capitalized interest during the estimated construction period of the projects and for a period of one year thereafter;
(6)For any of the preceding purposes;
(7)To enter into financing agreements to make loans pursuant to §46A-1-49;
(8)To provide for the payment of the costs of issuance of the bonds. At no time may district indebtedness exceed the aggregate indebtedness authorized by the Legislature pursuant to §46A-1-29, plus any additional amount authorized by that section, less the cumulative regular amortization payments made on each bond issue, except as specifically provided by §46A-1-31. The bonds shall be authorized by resolution of the Board of Water and Natural Resources. The resolution may provide that any signatures, other than the authentication signature of the trustee, on the bonds may be printed, lithographed, engraved, or otherwise reproduced on the bond;
(9)To purchase or otherwise finance or provide for the purchase or payment of loans made by the United States Department of Agriculture, as provided in §46A-1-31;
(10)To purchase or otherwise finance or provide for the purchase or payment of bonds or other obligations of any public entity or person in connection with the water pollution control revolving fund program and the drinking water revolving fund program, as provided in §46A-1-31.
Source:
SL 1972, ch 241, §32; SL 1976, ch 282, §1; SL 1977, ch 369, §2; SL 1977, ch 377, §2; SL 1980, ch 310, §7; SL 1981 (2d SS), ch 1, §18; SDCL Supp, §46-17A-31; SL 1988, ch 363, §1; SL 1989, ch 385, §20; SL 1991, ch 17 (Ex. Ord. 91-4), §17; SL 1994, ch 347, §1; SL 2011, ch 165, §294.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-32 - Terms of bonds.

46A-1-32. Terms of bonds.
The bonds may be issued and sold in one or more series, may be in such amounts and at such prices, may bear such date or dates, may be in such denomination or denominations, may mature at such time or times not exceeding fifty years from the respective dates thereof, may mature in such amount or amounts, may bear interest at such times and at such fixed or variable rate or rates as shall be determined by the district and without regard to any interest rate limitation appearing in any other law, may be in such form, either coupon or registered as to principal only or as to both principal and interest, may carry such registration privileges (including the conversion of a fully registered bond to a coupon bond or bonds and the conversion of a coupon bond to a fully registered bond), may be executed in such manner, may be made payable in such medium of payment, at such place or places within or without the state, may be callable or subject to purchase and retirement or tender and remarketing as determined by the district in any indenture, resolution, or other instrument. The district may take any action it deems appropriate for the purpose of implementing this section, including establishing parameters referencing current market conditions or published indices in connection with establishing interest rates, imposing maximum interest rate limitations, or establishing other parameters it deems appropriate, and may delegate the administration of specific functions within the established parameters. The district may enter into arrangements to provide additional security and liquidity for bonds, and to limit, reduce, or manage interest rate exposure with respect to bonds issued or to be issued.
Source:
SL 1972, ch 241, §33; SDCL Supp, §46-17A-32; SL 2008, ch 231, §1.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-33 - Pledge of revenues to secure payment of bonds.

46A-1-33. Pledge of revenues to secure payment of bonds.
In connection with the issuance of any bonds under this chapter, and in order to secure the payment of any such bonds and the interest thereon, the district shall have the power to provide that bonds issued under this chapter, subject only to the prior payment of the operation and maintenance expenses of any project, shall be payable from and secured by a pledge of and lien on all or any part of the income and revenues derived from, and to pledge and assign to, or in trust for the benefit of, the holder or holders of bonds issued under this chapter all or any part of the income and revenues derived from:
(1)Fees, rentals, and other charges as may be established by the district from persons using or being served by, or having the right to use or the right to be served by, or to operate, any project; and
(2)Rentals from any facility or building leased to the United States of America;
(3)Payments or obligations of any public entity or person pursuant to a financing agreement authorized by §46A-1-49.
Source:
SL 1972, ch 241, §34; SL 1980, ch 310, §8; SDCL Supp, §46-17A-33.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-33.1 - District may contract to manage payment or interest rate risk for bonds.

46A-1-33.1. District may contract to manage payment or interest rate risk for bonds.
The district may enter into any contract that the district 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 district. 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, §6.
2023 South Dakota Codified Laws › Title 46A - Water Management › Chapter 01 - State Water Resources Management › Section 46A-1-36 - Covenant to collect revenues sufficient for retirement of bonds.

46A-1-36. Covenant to collect revenues sufficient for retirement of bonds.
The district may covenant with or for the benefit of the holder of any bonds issued under this chapter that if any such bonds remain outstanding and unpaid, the district will fix, maintain, and collect in such installments as may be agreed upon, all revenues authorized to be pledged under §46A-1-33 until the bonds and accruing interest have been paid in accordance with their terms. The aggregate revenues shall be sufficient at all times to pay all necessary expenses of the operation and maintenance of any project, to pay the bonds at maturity and accruing interest on the bonds in accordance with their terms, and to create and maintain all reserves for the bonds as provided by the resolution authorizing the bonds.
Source:
SL 1972, ch 241, §35; SDCL Supp, §46-17A-34; SL 2011, ch 165, §296.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.