reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-52.2 - Commitments and agreements for financing through federally guaranteed securities.

1-16A-52.2. Commitments and agreements for financing through federally guaranteed securities.
In furtherance of the powers granted in §1-16A-52.1, the authority may acquire or enter into commitments to acquire any federally guaranteed security and to pledge or otherwise use any such federally guaranteed security in such manner as the authority deems in its best interest to secure or otherwise provide a source of repayment of any of its bonds issued to finance or refinance health or educational facilities or to enter into any appropriate agreement with any participating health or educational institution whereby the authority may make a loan to any such participating health or educational institution for the purpose of acquiring or entering into commitments to acquire any federally guaranteed security. Any agreement entered into pursuant to this section may contain such provisions which are deemed necessary or desirable by the authority for the security or protection of the authority or the holders of such bonds. However, the authority, prior to making any such acquisition, commitment or loan, shall first determine, and shall first enter into an agreement with any such participating health or educational institution or any other appropriate institution or corporation to require that the proceeds derived from the acquisition of any such federally guaranteed security will be used, directly or indirectly, for the purpose of financing or refinancing a health or educational facility.
Source:
SL 1979, ch 7, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-52.3 - Bonds not to exceed cost of facility--Expenses included--Terms and sale of bonds.

1-16A-52.3. Bonds not to exceed cost of facility--Expenses included--Terms and sale of bonds.
Any bonds issued pursuant to §1-16A-52.1 shall not exceed in principal amount the cost of such educational or health facility as determined by the participating educational or health institution and approved by the authority. However such costs may include, without limitation, all costs and expenses necessary or incidental to the acquisition of or commitment to acquire any federally guaranteed security and to the issuance and obtaining of any insurance or guarantee of any obligation issued or incurred in connection with any federally guaranteed security. In other respects any such bonds shall be subject to the provisions of §§1-16A-39 to 1-16A-41, inclusive, and the trust agreement or indenture creating such bonds may contain such of the provisions set forth in §1-16A-45 as the authority may deem appropriate.
Source:
SL 1979, ch 7, §4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-52.4 - Title to facility financed through federally guaranteed securities--Mortgage--Lease prohibited.

1-16A-52.4. Title to facility financed through federally guaranteed securities--Mortgage--Lease prohibited.
If an educational or health facility is financed or refinanced pursuant to §§1-16A-52.1 to 1-16A-52.3, inclusive, the title to the facility shall remain in the participating educational or health institution owning the facility. The title is subject to the lien of any mortgage, if any, securing the federally guaranteed securities being purchased. There may not be a lease of the facility between the authority and the institution.
Source:
SL 1979, ch 7, §5; SL 2013, ch 5, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-52.5 - Return of securities to issuer when provision made for payment.

1-16A-52.5. Return of securities to issuer when provision made for payment.
The provisions of §1-16A-56 shall not apply to any educational or health facility financed pursuant to §§1-16A-52.1 to 1-16A-52.5, inclusive, but the authority shall return the securities purchased through the issuance of bonds thereunder to the issuer of such securities when such securities have been fully paid or when such bonds have been fully paid and retired or when adequate provision, not involving the application of such securities, has been made to pay and retire the same fully, all other conditions of the trust agreement or indenture creating such bonds have been satisfied and the lien thereof has been released in accordance with the provisions hereof.
Source:
SL 1979, ch 7, §6.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-53 - Refunding bonds authorized--Amount.

1-16A-53. Refunding bonds authorized--Amount.
Any bonds of the authority at any time outstanding may at any time and from time to time be refunded by the authority by the issuance of its refunding bonds in such amount as the authority may deem necessary but not exceeding an amount sufficient to refund the principal of the bonds so to be refunded, together with any unpaid interest thereon and any premiums, commissions, service fees and other expenses necessary to be paid in connection therewith.
Source:
SL 1972, ch 10, §11.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-54 - Methods of refunding--Maturity dates.

1-16A-54. Methods of refunding--Maturity dates.
Any such refunding may be effected whether the bonds to be refunded shall have then matured or shall thereafter mature, either by sale of the refunding bonds and the application of the proceeds thereof for the payment of the bonds to be refunded thereby, or by the exchange of the refunding bonds for the bonds to be refunded thereby with the consent of the holders of the bonds so to be refunded, and regardless of whether or not the bonds to be refunded were issued in connection with the same facilities or separate facilities or for any other purpose hereunder, and regardless of whether or not the bonds proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise.
Source:
SL 1972, ch 10, §11.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-54.1 - Bond issue authorized to refund securities of participating institution.

1-16A-54.1. Bond issue authorized to refund securities of participating institution.
Notwithstanding any other provisions of this chapter to the contrary, the authority may finance the cost of an educational or health facility, or refund outstanding indebtedness incurred prior to or after July 1, 1976, for the construction or acquisition of an educational or health facility, by issuing its bonds for the purpose of purchasing the securities of a participating educational institution or participating health institution.
Source:
SL 1976, ch 9, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-54.2 - Amount and terms of securities purchased--Mortgage--Insurance and guaranties.

1-16A-54.2. Amount and terms of securities purchased--Mortgage--Insurance and guaranties.
Any securities purchased pursuant to §1-16A-54.1 shall have the same principal amounts, maturities, and interest rates as the bonds being issued pursuant to §1-16A-54.1. If the authority deems it advisable, the securities may be secured by a first mortgage lien on the educational or health facility being financed. If a mortgage is required, the securities are subject to any exception approved by the authority and created by a mortgage instrument satisfactory to the authority. The securities may be insured or guaranteed by others.
Source:
SL 1976, ch 9, §1; SL 2013, ch 5, §2.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-54.3 - Pledge of securities to secure bonds--Income used for payment--Maximum principal--Bonds subject to other provisions of chapter.

1-16A-54.3. Pledge of securities to secure bonds--Income used for payment--Maximum principal--Bonds subject to other provisions of chapter.
Any bonds issued pursuant to §1-16A-54.1 shall be secured by a pledge of the securities purchased pursuant to §1-16A-54.1 under the trust agreement or indenture creating such bonds, shall be payable solely out of the payments to be made on such securities, and shall not exceed in principal amount the cost of such educational or health facility as determined by the participating educational or health institution and approved by the authority. In other respects any such bonds shall be subject to the provisions of §§1-16A-39 to 1-16A-41, inclusive, and the trust agreement or indenture creating such bonds may contain such of the provisions set forth in §1-16A-45 as the authority may deem appropriate.
Source:
SL 1976, ch 9, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-54.4 - Title of financed facility to remain in participating institution--Mortgage--Lease prohibited.

1-16A-54.4. Title of financed facility to remain in participating institution--Mortgage--Lease prohibited.
If an educational or health facility is financed pursuant to §§1-16A-54.1 to 1-16A-54.3, inclusive, the title to the facility shall remain in the participating educational or health institution owning the facility. The title is subject to the lien of the mortgage, if any, securing the securities being purchased. There may not be a lease of the facility between the authority and the institution.
Source:
SL 1976, ch 9, §2; SL 2013, ch 5, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-55 - Bonds of authority as legal investments.

1-16A-55. Bonds of authority as legal investments.
The state and all counties, municipalities, 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, investment companies, insurance companies, and associations, 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.
Source:
SL 1972, ch 10, §20; SL 1992, ch 60, §2; SL 1993, ch 213, §73.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-56 - Conveyance of facility to participating institution when debt paid.

1-16A-56. Conveyance of facility to participating institution when debt paid.
When the principal of and interest on bonds issued by the authority to finance the cost of facilities or to refinance outstanding indebtedness of one or more participating health institutions or participating educational institutions, as the case may be, including any refunding bonds issued to refund and refinance such bonds, have been fully paid and retired or when adequate provision has been made to fully pay and retire the same, and all other conditions of the resolution, the lease, the trust indenture and the mortgage or deed of trust, if any, authorizing and securing the same have been satisfied and the lien of such mortgage or deed of trust has been released in accordance with the provisions thereof, the authority shall promptly do all things and execute such deeds and conveyances as are necessary and required to convey its right, title and interest in such facilities so financed, and any other facilities mortgaged to secure the bonds, to such participating health institution or institutions or to such participating educational institution or institutions, as the case may be.
Source:
SL 1972, ch 10, §16.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-56.1 - Conveyance provisions inapplicable to refinanced facility--Return of securities when bonds paid or payment provided for.

1-16A-56.1. Conveyance provisions inapplicable to refinanced facility--Return of securities when bonds paid or payment provided for.
The provisions of §1-16A-56 shall not apply to any educational or health facility financed pursuant to §§1-16A-54.1 to 1-16A-54.4, inclusive, but the authority shall return the securities purchased through the issuance of bonds thereunder to the participating educational or health institution issuing such securities when such bonds have been fully paid and retired or when adequate provision has been made to pay and retire the same fully and all other conditions of the trust agreement or indenture creating such bonds have been satisfied and the lien thereof has been released in accordance with the provisions hereof.
Source:
SL 1976, ch 9, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-57 - Expenses paid from authority funds--Borrowing for initial operation.

1-16A-57. Expenses paid from authority funds--Borrowing for initial operation.
All expenses of the authority incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter and no liability shall be incurred by the authority beyond the extent to which moneys shall have been provided under this chapter, except that for the purposes of meeting the necessary expenses of initial organization and operation until such date as the authority derives moneys from funds provided hereunder, the authority shall be empowered to borrow moneys as may be required for such necessary expenses of organization and operation. Such borrowed moneys shall be repaid within a reasonable time after the authority receives funds provided for under this chapter.
Source:
SL 1972, ch 10, §15.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-58 - Tax exemption of authority.

1-16A-58. Tax exemption of authority.
The authority is hereby declared to be performing a public function in behalf of the state and to be a public instrumentality of the state. Accordingly, the income of the authority, and all properties at any time owned by the authority, shall be exempt from all taxation in the State of South Dakota.
Source:
SL 1972, ch 10, §14.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-59 - Securities regulation.

1-16A-59. Securities regulation.
For 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 1972, ch 10, §14; SL 1989, ch 30, §3; SL 2004, ch 278, §54.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-61 - Powers supplementary.

1-16A-61. Powers supplementary.
The powers conferred by this chapter shall be in addition and supplementary to, and the limitations by this chapter shall not affect the powers conferred by any other law.
Source:
SL 1972, ch 10, §22.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-62 - Powers under other law unimpaired.

1-16A-62. Powers under other law unimpaired.
Neither this chapter nor anything herein contained shall be construed as a restriction or limitation upon any powers which the authority might otherwise have under any laws of this state, but shall be construed as cumulative of any such powers.
Source:
SL 1972, ch 10, §17.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-65 - Health education assistance loan program established.

1-16A-65.Health education assistance loan program established.
There is established to be financed by the health and educational facilities authority created by this chapter, a South Dakota health education loan program pursuant to P. L. 94-484.
Source:
SL 1982, ch 10, §4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-66 - Health education assistance loan program--Powers of authority.

1-16A-66. Health education assistance loan program--Powers of authority.
The authority may, together with all powers incidental thereto or necessary for the performance thereof:
(1)Participate in the financing of HEAL loans;
(2)Purchase or participate in the purchase of HEAL loans;
(3)Sell or participate in the sale of HEAL loans;
(4)Collect and pay reasonable fees and charges in connection with making, purchasing and servicing or causing to be made, purchased or serviced HEAL loans;
(5)Do all things necessary and convenient to carry out the purposes of §§1-16A-65 to 1-16A-70, inclusive, in connection with the administering and servicing of HEAL loans, including contracting with any person, firm or other body public or private in respect thereof;
(6)Enter into agreements necessary to effect the guarantee, administering and servicing of HEAL loans; and
(7)Promulgate rules, establish standards for participation in the program administered by the authority under P.L. 94-484, and establish other administrative procedures consistent with P.L. 94-484.
Source:
SL 1982, ch 10, §5.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-67 - Health education assistance loan program--Funding of HEAL loan purchases by bonds, notes or other obligations of authority.

1-16A-67. Health education assistance loan program--Funding of HEAL loan purchases by bonds, notes or other obligations of authority.
Any HEAL loan made, caused to be made, purchased or caused to be purchased under §§1-16A-65 to 1-16A-70, inclusive, may be funded with the proceeds of bonds, notes or other obligations of the authority issued pursuant to §§1-16A-38 to 1-16A-41, inclusive, and the trust agreement or indenture creating such bonds may contain such of the provisions set forth in §1-16A-45 as the authority may deem appropriate, and in addition may contain such other provisions as the authority may deem reasonable and proper for the security of the holders of any such bonds, notes or other obligations of the authority. The proceeds of any bonds, notes or other obligations of the authority issued pursuant to this section may be used and applied by the authority to make, cause to be made, purchase or cause to be purchased, HEAL loans, to the payment of financing costs, including legal, underwriting and investment banking, accounting, rating agencies, printing and other similar costs; the funding of any reserve funds deemed necessary or advisable by the authority; interest on such bonds, notes or other obligations for any period deemed necessary or advisable by the authority; and all other necessary and incidental costs and expenses.
Source:
SL 1982, ch 10, §6.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-68 - Health education assistance loan program--Payment of bonds.

1-16A-68. Health education assistance loan program--Payment of bonds.
Notwithstanding §1-16A-42, all bonds issued by the authority pursuant to §1-16A-67 shall be payable out of the revenues with respect to HEAL loans funded under this chapter, or from reserves or other money available for such purpose as may be designated in the resolution of the authority under which the bonds shall be authorized to be issued or as may be designated in a trust indenture authorized by the authority.
Source:
SL 1982, ch 10, §7.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-69 - Health education assistance loan program--Security for principal and interest of bonds.

1-16A-69. Health education assistance loan program--Security for principal and interest of bonds.
Notwithstanding §1-16A-43, the principal of and interest on any bonds issued by the authority pursuant to §1-16A-67 shall be secured by a pledge of the revenues and other money out of which the same shall be made payable and may be secured by a trust indenture or mortgage or deed of trust, including an assignment of the HEAL loans or other contract rights of the authority thereunder, covering all or any part of the HEAL loans from which the revenues or receipts so pledged may be derived.
Source:
SL 1982, ch 10, §8.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-70 - Health education assistance loan program--Repayment fund created.

1-16A-70. Health education assistance loan program--Repayment fund created.
There is created a separate trust fund designated the South Dakota health education loan repayment fund consisting of all revenues with respect to HEAL loans funded under this chapter. The authority may pledge revenues received or to be received by the fund to secure bonds, notes or other obligations issued under §1-16A-67. The authority may create sub-funds or accounts within the repayment fund created under this section as the authority deems necessary or advisable.
Source:
SL 1982, ch 10, §9.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-74 - Power to act as public instrumentality.

1-16A-74. Power to act as public instrumentality.
The authority is hereby designated and empowered to act as a public instrumentality and agency of the state exercising public and essential governmental functions for the purpose of reducing the cash flow difficulties faced by LEAs and other public bodies, improving the financial procedures of school districts and other public bodies, reducing the short-term borrowing costs of LEAs and other public bodies, financing capital improvements for vocational education, assisting public bodies in the financing of real property, equipment or other personal property and assisting public bodies, health institutions and educational institutions in the investment of funds intended for use or application in connection with any purpose, project or program authorized by this chapter.
Source:
SL 1986, ch 13, §1; SL 1987, ch 144, §9; SL 1988, ch 13, §2.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-74.1 - Establishment of funding program for financing of property by public bodies--Assistance--Pledging of payments--Compliance with statutory limitations.

1-16A-74.1. Establishment of funding program for financing of property by public bodies--Assistance--Pledging of payments--Compliance with statutory limitations.
The authority shall establish or assist in the establishment of a funding program for the financing of real property, equipment, or other personal property by public bodies. Such assistance may include, without limitation, the issuance and sale of bonds or notes, the loaning of the proceeds thereof to public bodies or other sponsorship of any such financing, the investment of funds raised for the purchase or leasing of such real property, equipment, or other personal property by the authority in any investment described in §1-16A-19, the purchase or lease of any such real property, equipment, or other personal property by the authority, the sale or lease of any such real property, equipment, or personal property to any public body and the execution of a trust agreement or similar or related agreements and instruments by the authority or other public bodies authorizing the issuance of certificates of participation for the financing thereof. In addition, the authority may pledge payments from public bodies or other revenues to secure repayment of certificates of participation or other evidences of indebtedness in connection with such program and may enter into such other agreements as its board may deem necessary or appropriate in order to accomplish the purposes described herein.
Notwithstanding any other provision of law, a school district may enter into a pooled funding agreement for capital outlay obligations, capital outlay installment, or lease-purchase agreements described in this section; however, the school district shall comply with the limitation on the principal amount and maturity date established in §13-16-6 and with the limitation on levy amounts in §13-16-7.
Source:
SL 1988, ch 13, §3; SL 1992, ch 4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-75 - Funding program for purchase of notes--Issuance of bonds or notes.

1-16A-75. Funding program for purchase of notes--Issuance of bonds or notes.
The authority shall establish a statewide funding program for the purchase from schools or cooperative educational service units of notes, whether issued under chapter 13-19 or otherwise, in anticipation of the receipt of moneys for school or cooperative educational service units purposes to alleviate cash flow difficulties and to otherwise improve the financial well-being of the schools or cooperative educational service units. The authority may issue its bonds or notes and use the proceeds therefrom for the purpose of making loans to or purchasing the notes of any school district or cooperative educational service units for the use of the various funds of the school district or cooperative educational service units for any lawful school district or cooperative educational service units purpose excluding debt service. Bonds or notes issued pursuant to §§1-16A-19, 1-16A-74 to 1-16A-76, inclusive, and 13-19-1.2 may be secured by a pledge of payments made to the authority by the school district or cooperative educational service units, to be derived from the receipt of anticipated funds, grants, aid or other moneys as may be evidenced by, or pledged to secure, the notes of the school district or cooperative educational service units, including a pooling of payments of notes from two or more participating school districts or cooperative educational service units.
Source:
SL 1986, ch 13, §2; SL 1991, ch 124, §4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-76 - Jurisdiction of federal bankruptcy courts--Written contracts concerning bonds or notes enforceable.

1-16A-76. Jurisdiction of federal bankruptcy courts--Written contracts concerning bonds or notes enforceable.
The authority, all school districts and other public bodies, and all officers or departments of the state dealing with the state or the authority pursuant to §§1-16A-19, 1-16A-74 to 1-16A-76, inclusive, and 13-19-1.2 are not subject to the jurisdiction of the federal bankruptcy courts or any successor thereof under the United States Constitution. Any contract, agreement, or other arrangement entered into by any or all of the school districts or other public bodies, the authority and any officers or departments of the state or the authority pursuant to §1-16A-19, 1-16A-74 to 1-16A-76, inclusive, 1-16A-97 to 1-16A-99, inclusive, 13-19-1.2, 13-19-27, 13-19-29, 13-13-39, or 13-13-74 or in anticipation of or for the securing of the issuance of tax anticipation notes by any or all of the school districts, the issuance or agreement to issue warrants or general obligation refunding bonds by any or all of the school districts, the agreement by the authority and the school district or any officers or department of the state to purchase any or all of such notes, warrants, or general obligation refunding bonds or any related or similar agreement for the benefit of investors or any other third party or parties shall be valid, binding and enforceable when made in writing duly signed by the appropriate officers. All such agreements and other arrangements are not subject to disavowal, disaffirmance, cancellation, or avoidance by reason of insolvency of any party, lack of consideration or any other fact, occurrence or rule of law.
Source:
SL 1986, ch 13, §3; SL 1988, ch 13, §4; SL 2015, ch 90, §6.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-78 - Authority to issue education savings bonds.

1-16A-78. Authority to issue education savings bonds.
The authority may designate bonds or certificates of participation described in §1-16A-79 as South Dakota education savings bonds or certificates.
Source:
SL 1990, ch 10, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-79 - Criteria for issuance of education savings bonds.

1-16A-79. Criteria for issuance of education savings bonds.
Bonds issued by the authority or certificates of participation issued in connection with an authority program may be eligible for designation by the authority pursuant to §1-16A-78 if the authority determines that the following criteria are satisfied:
(1)The bonds or certificates are structured and are to be marketed initially in such a manner as to attract a broad range of investors including parents, guardians or conservators, grandparents or other family members who are interested in planning for the education of children;
(2)The bonds or certificates, at the time such instruments are designated as education savings bonds or certificates, are either:
(a)Rated in one of the three highest rating categories by one or more nationally recognized organizations which regularly rate such obligations, without regard to any modifier such as a plus or minus, arabic numeral or similar designation; or
(b)Otherwise determined by the authority pursuant to §1-16A-80 to be eligible for designation as education savings bonds or certificates; and
(3)The bonds or certificates are either current interest obligations, capital appreciation bonds, zero-coupon, deep discount, or comparable instruments and the maturity dates of such instruments are structured to the extent possible to accommodate the financing needs of the authority or the entity or program on whose behalf the instruments are being issued and to fulfill the needs of persons planning on using the proceeds of such instruments for educational purposes.
Source:
SL 1990, ch 10, §2; SL 1993, ch 213, §74.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-80 - Additional criteria for issuance of education savings bonds.

1-16A-80. Additional criteria for issuance of education savings bonds.
In lieu of satisfaction of the criteria set forth in subsection 1-16A-79(2)(a), bonds or certificates may be designated by the authority as education savings bonds or certificates if the authority determines it is appropriate after considering the following factors:
(1)The existence of a secondary market for comparable securities or instruments;
(2)The current applicability of a comparable rating assigned to one or more other bonds or other evidences of indebtedness issued on behalf of the person, entity, or program which is being financed with the proceeds of the bonds or certificates under consideration by the authority;
(3)A pledge of state aid or financial assistance or its equivalent to support repayment of such bonds, certificates, or other instruments, whether directly or indirectly;
(4)The security and source of revenues pledged to such bonds, certificates, or other instruments; or
(5)Such other factors or considerations as the authority may deem appropriate in reaching such determination.
Source:
SL 1990, ch 10, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-81 - Discounted sale of education savings bonds--Interest--Payment at maturity.

1-16A-81. Discounted sale of education savings bonds--Interest--Payment at maturity.
Education savings bonds or certificates of participation may be sold at any discount to be determined by the authority, need not bear a stated rate of interest, and may be payable in one payment at maturity on a fixed date.
Source:
SL 1990, ch 10, §4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-82 - Sale of education savings bonds--Computation of aggregate principal.

1-16A-82. Sale of education savings bonds--Computation of aggregate principal.
Education savings bonds or certificates may be sold either at a competitive or negotiated sale. For purposes of computing the aggregate principal amount of bonds or certificates issued or outstanding at any one time, education savings bonds or certificates shall be considered to be issued and outstanding in a principal amount equal to the price paid to the authority for such bonds or certificates as of the date of their sale.
Source:
SL 1990, ch 10, §5.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-83 - Plan of implementation for issuance and sale of education savings bonds.

1-16A-83. Plan of implementation for issuance and sale of education savings bonds.
The authority may develop a plan of implementation for the issuance and sale of bonds or certificates of participation as education savings bonds or certificates, including:
(1)The advertising to inform the public about the availability of such bonds or certificates;
(2)The marketing and financing of the issue and sale; and
(3)The establishment of specific increments, maturities, and denominations in which such bonds or certificates shall be marketed in order to make the bonds or certificates affordable and funds available at the time when such funds are needed to pay education costs.
Upon the request of the authority, the State Board of Regents, the state treasurer, and any department, agency, or state authority may assist the authority in the preparation and implementation of such plan.
Source:
SL 1990, ch 10, §6.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-84 - Designation by authority required for education savings bonds.

1-16A-84. Designation by authority required for education savings bonds.
No bond, certificate, or other evidence of indebtedness may be designated or described in a manner suggesting qualification as an education savings bond or certificate unless such bond, certificate, or other evidence of indebtedness has been so designated by the health and educational facilities authority pursuant to the provisions of this chapter.
Source:
SL 1990, ch 10, §7.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-85 - Pool arrangement defined.

1-16A-85. Pool arrangement defined.
For the purposes of §§1-16A-85 to 1-16A-88, inclusive, a pool arrangement is any joint power agreement, pool, consortium, or other arrangement or collection of public agencies, whether or not formed under or pursuant to chapter 1-24 and whether or not a separate legal entity, by which one or more public agencies have provided for the payment of claims, liabilities, or other expenses or otherwise provided for or obtain coverage for property, personal injury, and workers' compensation claims or group life, health, or accident coverage.
Source:
SL 1991, ch 11, §8.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-86 - Authority as funding authority for pool arrangement.

1-16A-86. Authority as funding authority for pool arrangement.
The authority is hereby authorized as a funding authority for any pool arrangement. To implement this authorization, the authority may establish a program for, or issue and assist others in the issuance of, revenue bonds, certificates of participation or any other instruments to accomplish any objective of any such pool arrangement, including capitalization of the pool, provision of excess claims funds or assisting in other funding objectives. The authority may exercise any or all powers enumerated in this chapter, including the establishment of a program for, or the issuance of, revenue bonds, certificates of participation or other instruments to provide funding for any purpose of a pool arrangement.
Source:
SL 1991, ch 11, §9.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-87 - Program for issuance of bonds or certificates of participation that constitute debt of participating agencies--Secured for payment by proceeds of irrepealable tax levies.

1-16A-87. Program for issuance of bonds or certificates of participation that constitute debt of participating agencies--Secured for payment by proceeds of irrepealable tax levies.
In addition to the authorization granted by §1-16A-86, the authority may establish a program for, or issue or assist others in the issuance of, bonds, certificates of participation or other instruments that directly or indirectly constitute a debt or other obligation of one or more participating public agencies and which may be secured directly or indirectly by the proceeds of irrepealable tax levies of the participating public agencies.
Source:
SL 1991, ch 11, §11.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-88 - Bonds or certificates of participation not secured for payment by proceeds of irrepealable tax levies.

1-16A-88. Bonds or certificates of participation not secured for payment by proceeds of irrepealable tax levies.
Any revenue bond, certificate of participation or other instrument which is not directly or indirectly secured for payment of principal and interest by the proceeds of irrepealable tax levies shall state on its face that it is not secured for payment by irrepealable tax levies of the state or any political subdivision, that it is payable only out of certain specified funds or revenues therein described and that it does not constitute a debt or liability of the state or any political subdivision.
Source:
SL 1991, ch 11, §12.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-89 - Credit enhancement obligation--Conditions.

1-16A-89. Credit enhancement obligation--Conditions.
No credit enhancement obligation is valid unless the authority adopts a resolution which finds and determines the following:
(1)The bonds or other obligations to be secured by such credit enhancement obligation are to be issued for the purpose of financing or refinancing property, real or personal, or related costs incurred by a health institution which owns or operates a hospital which presently provides or intends to provide hospital services to all or a portion of the residents of the municipality or county which is proposing to issue the credit enhancement obligation;
(2)The participating health institution which is obligated to make payments in amounts and at the times required to repay the bonds or other obligations to be secured by the credit enhancement obligation are reasonably expected to have sufficient funds available for such purposes;
(3)The credit enhancement obligation and any bonds or other obligations to be issued by the authority, municipality or county in connection therewith do not contain provisions which will require credit enhancement obligation payments by the municipality or county in any fiscal year of the municipality or county prior to the year in which a principal payment, sinking fund installment or comparable redemption payment amount is otherwise scheduled to become due; and
(4)If deemed advisable by the authority, the participating health institution shall agree to one or more financial or operational covenants which, if not complied with, may result in the authority or a financial institution requiring the participating health institution to take certain actions including, without limitation, the retaining of an independent consultant to study the operations of the participating health institution and recommend improvements therein.
Source:
SL 1992, ch 3, §2.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-90 - Agreements with other entities involving credit enhancement obligations.

1-16A-90. Agreements with other entities involving credit enhancement obligations.
In connection with any loan to, lease with, or other financing agreement for the benefit of a participating health institution, the authority may enter into any agreements it deems necessary or appropriate with the participating health institution, any municipality or county, any financial institution and others. In connection therewith, the authority may pledge any of its rights, title, and interests in, to and under any credit enhancement obligation for the purpose of securing repayment of bonds or other obligations issued to finance or refinance the costs of property, real or personal, and related costs incurred by a participating health institution which owns or operates a hospital which presently provides or intends to provide services to all or a portion of the residents of the municipality or county which issues such credit enhancement obligation.
Source:
SL 1992, ch 3, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-91 - Issued indebtedness for accounts receivable program.

1-16A-91. Issued indebtedness for accounts receivable program.
The authority may participate in and issue bonds and other forms of indebtedness for the purpose of establishing and maintaining an accounts receivable program on behalf of one or more participating health institutions. Such bonds and other evidences of indebtedness shall be issued payable from the revenues derived from the accounts receivable, and any other provisions of this chapter to the contrary notwithstanding, such bonds and other evidences of indebtedness may be issued with or without recourse to the participating health institution or institutions from which the accounts receivable are purchased.
Source:
SL 1994, ch 8, §4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-92 - Authority may contract to manage payment or interest rate risk for bonds.

1-16A-92. 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, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-93 - Proposed issuance of obligations--Determination of board.

1-16A-93. Proposed issuance of obligations--Determination of board.
Any bonds, notes or other obligations of the authority that are payable out of receipts, rentals, and other payments made pursuant to lease purchase agreements with the Western Dakota Technical College, the Southeast Technical College, the Lake Area Technical College, the Mitchell Technical College, or the South Dakota Board of Technical Education under the authority of chapter 13-39A may only be issued if the Board of Technical Education determines, by the adoption of a resolution, that the estimated receipts, rentals, and other payments, including appropriations by the Legislature, student fee payments, or other balances or revenues pledged under the applicable bond indenture or similar agreement will not be less than one hundred three percent of the projected scheduled payments of principal and interest on all outstanding bonds which, for purposes of that determination shall include the proposed bonds to be issued and shall exclude any bonds to be refunded. Proposed issuance of obligations must comply with §§4-7-46 and 4-7-47. In issuing additional bonds, the authority may conclusively rely upon the determination of the board.
Source:
SL 2013, ch 6, §1; SL 2015, ch 6, §1; SL 2017, ch 81, §48; SL 2020, ch 61, § 29.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-94 - Promulgation of rules establishing forecasting methodology.

1-16A-94. Promulgation of rules establishing forecasting methodology.
The South Dakota Board of Technical Education shall promulgate rules pursuant to chapter 1-26 establishing a methodology for forecasting anticipated contributions from student tuition and fees and additional state appropriations available pursuant to a lease purchase agreement to meet the projected scheduled payments of principal and interest on all outstanding bonds and other benchmarks.
Source:
SL 2013, ch 6, §2; SL 2017, ch 81, §49.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16A - Health And Educational Facilities Authority › Section 1-16A-95 - Issuance of additional obligations--Legislative approval.

1-16A-95. Issuance of additional obligations--Legislative approval.
The issuance of any additional bonds, notes, or other obligations of the authority that are payable out of receipts, rentals, and other payments made pursuant to lease purchase agreements with the Western Dakota Technical College, the Southeast Technical College, the Lake Area Technical College, the Mitchell Technical College, or the South Dakota Board of Technical Education under the authority of chapter 13-39A shall be approved by the Legislature before issuance. The board shall approve the issuance of additional bonds, notes, or other obligations prior to issuance. The Legislature in accordance with §§1-16A-93 and 1-16A-94 and applicable administrative rules shall consider the board's analysis prior to authorizing any additional bonds, notes, or other obligations. The requirement, however, for approval by the Legislature before issuance does not apply to the issuance of bonds for the purposes of refinancing or refunding existing bonds, notes, or other obligations.
Source:
SL 2013, ch 6, §3; SL 2014, ch 93, §12, eff. Mar. 28, 2014; SL 2015, ch 6, §2; SL 2017, ch 81, §50; SL 2018, ch 9, §1; SL 2020, ch 61, § 30.