reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-73 - Definitions relating to new frontiers program.

1-16G-73. Definitions relating to new frontiers program.
Terms used in §§1-16G-73 to 1-16G-84, inclusive, mean:
(1)"Board," the Board of Economic Development;
(2)"Commissioner," the commissioner of the Governor's Office of Economic Development;
(3)"Completed the program" or "completion of the program," the first date when the program's schedule of work as outlined in the application required under §1-16G-75 is finished. In the specific case of a clinical trial for a new pharmaceutical product or medical device, this term means the end date of the clinical trial phase undertaken pursuant to approval by a federal authority;
(4)"Commencement date," the first date preclinical research or clinical trial activities begin pursuant to a program's schedule of work or the terms of an approval by a federal authority. For a person already engaged in a program and relocating to South Dakota from a foreign jurisdiction, commencement date means the date of first full-time occupancy of an office or other facility located in this state;
(5)"Department," the Department of Revenue;
(6)"Federal authority," an agency or instrumentality of the United States government authorized under law to regulate the activities of the program, including the U.S. Food and Drug Administration and the National Institutes of Health;
(7)"GOED," the Governor's Office of Economic Development;
(8)"Person," any individual, firm, copartnership, joint venture, association, cooperative, nonprofit development corporation, limited liability company, limited liability partnership, corporation, estate, trust, business trust, receiver, or any group or combination acting as a unit. The term also includes any heirs, assigns, or successors in interest thereto;
(9)"Program," a planned, sustained original research engagement into a new or adapted method, process, product, or technology, or the testing of a new method, process, product, or technology under approval by a federal authority, including a clinical trial for a new pharmaceutical product or medical device;
(10)"Program cost," the amount paid by the program owner in money, credits, property, or other consideration associated with a program including contract labor, materials, equipment, supplies, or fees.
Source:
SL 2016, ch 5, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-74 - Requirements for new frontiers program applicants.

1-16G-74. Requirements for new frontiers program applicants.
A person may apply for a new frontiers payment pursuant to §§1-16G-73 to 1-16G-84, inclusive. The person shall:
(1)Timely file an application as required by §1-16G-75;
(2)Receive a permit from GOED pursuant to §1-16G-77;
(3)Timely file an affidavit for new frontiers payment as required by §1-16G-78; and
(4)Comply with the provisions of §§1-16G-73 to 1-16G-84, inclusive, to qualify for the new frontiers payment.
A program with a commencement date after March 31, 2016, may receive a new frontiers payment as provided by §§1-16G-73 to 1-16G-84, inclusive.
Source:
SL 2016, ch 5, §2.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-75 - Time for filing application--Contents.

1-16G-75. Time for filing application--Contents.
Before any person receives any new frontiers payment as provided in §§1-16G-73 to 1-16G-84, inclusive, the person shall file an application with GOED. The application may be filed no later than thirty days after the commencement date. No person may receive a new frontiers payment if the application is not timely filed with GOED.
The application shall include the following information:
(1)The program owner's name and contact information;
(2)The general description of the program;
(3)The commencement date of the program;
(4)The projected date for completion of the program;
(5)A schedule of work for the program;
(6)The estimated program costs;
(7)The location of the program;
(8)A list of the anticipated contractors and subcontractors who will perform work on the program;
(9)A copy of any approval notification by a federal authority;
(10)A commitment from the program owner to manufacture or process the product resulting from the program in South Dakota; and
(11)Any other information that GOED may require.
The application shall be on a form prescribed by the commissioner. The application shall be signed by the program owner under penalty of perjury. No application may include more than one program.
Source:
SL 2016, ch 5, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-76 - Board review of application--Factors for consideration.

1-16G-76. Board review of application--Factors for consideration.
The board shall review the application and make a determination of whether the program shall be approved or disapproved. The board may approve a new frontiers payment that is equal to or less than South Dakota sales and use tax paid on the program costs.
The board shall consider the following factors when making that determination:
(1)Is the program in an industry or sector identified by GOED as a priority for economic development;
(2)Is the program likely to lead to future economic development or commercialization opportunities located in South Dakota;
(3)Impact of the program on current economic activity in the community, area, and state;
(4)Extent to which program costs are subject to similar taxes in other states; and
(5)Criteria pertaining to eligible activities and economic impact established by rules promulgated pursuant to §1-16G-84.
Source:
SL 2016, ch 5, §4.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-77 - Permit from GOED--Assignment and transfer of permit and payment--Amended application.

1-16G-77. Permit from GOED--Assignment and transfer of permit and payment--Amended application.
Upon approval of the application by the board, GOED shall issue a permit entitling the person to submit an affidavit for new frontiers payment as provided by §1-16G-80. The permit and new frontiers payment is assignable and transferable and may be used as collateral or security pursuant to chapter 57A-9. If the initial permit holder entity reorganizes into a new entity, the new entity shall file with GOED an amended application within sixty days of the reorganization. If either the permit or new frontiers payment, or both, is assigned or transferred to another entity, the entity shall file with GOED an amended application within sixty days.
Source:
SL 2016, ch 5, §5.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-78 - Affidavit for new frontiers payment--Contents.

1-16G-78. Affidavit for new frontiers payment--Contents.
Any person holding a new frontiers permit issued by GOED and completing its program shall file an affidavit for new frontiers payment with GOED.
The affidavit for new frontiers payment shall contain the following information:
(1)The program owners' name and contact information;
(2)The general description of the program;
(3)The date of completion of the program;
(4)The final program costs;
(5)The amount of South Dakota sales tax and use tax paid for the completion of the program;
(6)The location of the program;
(7)A list of the contractors and subcontractors who performed work on the program;
(8)A copy of any approval notification by a federal authority;
(9)A commitment from the program owner to manufacture or process the product resulting from the program in South Dakota;
(10)If the new frontiers payment was assigned or transferred, the name and address of the person to whom the new frontiers payment has been assigned or transferred; and
(11)Any other information that GOED may require.
The affidavit for new frontiers payment shall be on a form prescribed by the commissioner. The affidavit for new frontiers payment shall be signed by the program owner. No affidavit for new frontiers payment may include more than one program.
Source:
SL 2016, ch 5, §6.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-79 - Time for filing affidavit for payment--Final program cost determination--Extension.

1-16G-79. Time for filing affidavit for payment--Final program cost determination--Extension.
The affidavit for new frontiers payment as required by §1-16G-78 shall be filed no later than six months after the completion of the program. If the affidavit for new frontiers payment is not timely filed, the person is ineligible for a new frontiers payment. If the person filing the affidavit for new frontiers payment knowingly makes any material false statement or report in the affidavit for new frontiers payment, the person is ineligible for a new frontiers payment.
No program costs that occur after eight years from the commencement date are eligible to be included in the final program cost determination for a new frontiers payment, unless an extension is granted at the sole discretion of the board. Any extension granted may not extend beyond twelve years from the commencement date.
Source:
SL 2016, ch 5, §7.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-80 - Time for new frontiers payment--Additional information.

1-16G-80. Time for new frontiers payment--Additional information.
After the timely receipt of a completed affidavit for new frontiers payment, within ninety days GOED shall make payment from the reinvestment fund established in §1-16G-64 to the program owner based upon the amount and terms approved by the board. If GOED requests additional documents or information from the program owner, the ninety-day period begins to run from the date of receipt of the additional documents or information. GOED shall tender the new frontiers payment by electronic funds transfer.
Source:
SL 2016, ch 5, §8.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-81 - Repayment upon relocation outside of state--Repayment waiver.

1-16G-81. Repayment upon relocation outside of state--Repayment waiver.
If a person receives a new frontiers payment under §1-16G-80 for a program, but subsequently locates the manufacture or processing of the product resulting from the program outside of South Dakota, the person shall repay all new frontiers payments to the State of South Dakota. Upon application by the person, the board may in its discretion waive all or part of the repayment obligation.
The application for repayment waiver shall be on a form prescribed by the commissioner and shall be signed by the person requesting the waiver.
Source:
SL 2016, ch 5, §9.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-82 - Limitations on reinvestment payments.

1-16G-82. Limitations on reinvestment payments.
The limitations on reinvestment payments imposed by §1-16G-65 also apply to any new frontiers payment approved by the board.
Source:
SL 2016, ch 5, §10.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-83 - Public information.

1-16G-83. Public information.
The name of any person that receives a new frontiers payment or waiver as provided by §§1-16G-73 to 1-16G-84, inclusive, and the amount of the new frontiers payment or waiver, is public information and shall be available and open to public inspection as provided in §1-27-1.
Source:
SL 2016, ch 5, §11.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-84 - Promulgation of rules regarding new frontiers program.

1-16G-84. Promulgation of rules regarding new frontiers program.
The board may promulgate rules, pursuant to chapter 1-26, concerning the procedures and forms for applying for and receiving the new frontiers payment, the requirements necessary to qualify for the new frontiers payment, and the criteria to evaluate programs submitting applications.
Source:
SL 2016, ch 5, §12.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-85 - [Effective until July 1, 2025] Definitions.

1-16G-85. [Effective until July 1, 2025] Definitions.
Terms used in §§1-16G-85 through 1-16G-89 mean:
(1)"Commissioner," the Commissioner of the Governor's Office of Economic Development;
(2)"Disaster relief subfund," the small business economic disaster relief subfund created in §1-16G-86;
(3)"COVID-19 state of emergency," the COVID-19 outbreak emergency declared by the Governor as provided in §34-48A-5, including any extension thereof; and
(4)"Small business," a business enterprise with no more than two hundred fifty full-time equivalent employees.
Source:
SL 2020, ch 3, § 1, eff. Mar. 31, 2020.
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Effective July 1, 2025
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1-16G-85.Repealed.
Source:
SL 2020, ch 3, § 1, eff. Jul. 1, 2025.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-86 - [Effective until July 1, 2025] Disaster relief subfund--Creation--Continuous appropriation.

1-16G-86. [Effective until July 1, 2025] Disaster relief subfund--Creation--Continuous appropriation.
There is created within the revolving economic development and initiative fund created by §1-16G-3 the small business economic disaster relief subfund. Unexpended money and any interest that may be credited to the subfund shall remain in subfund. Any money in the subfund is continuously appropriated to the Governor's Office of Economic Development. The commissioner may accept grants and gifts to the subfund.
Source:
SL 2020, ch 3, § 2, eff. Mar. 31, 2020.
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Effective July 1, 2025
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1-16G-86.Repealed.
Source:
SL 2020, ch 3, § 2, eff. Jul. 1, 2025.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-87 - [Effective until July 1, 2025] Disaster relief subfund--Loans.

1-16G-87. [Effective until July 1, 2025] Disaster relief subfund--Loans.
The commissioner may make loans from the disaster relief subfund to small businesses adversely affected by the COVID-19 state of emergency. The commissioner shall approve loans from the disaster relief subfund upon terms established by the commissioner. Loan proceeds may be used for business purposes as approved by the commissioner. A loan from the disaster relief subfund under this section must meet each of the following criteria:
(1)The loan may not exceed seventy-five thousand dollars;
(2)The interest rate on the loan must not be at a rate greater than zero percent; and
(3)The loan may not include any fee for processing, administering, or servicing of the loan, except in the case of a default by the borrower.
Source:
SL 2020, ch 3, § 3, eff. Mar. 31, 2020.
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Effective July 1, 2025
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1-16G-87.Repealed.
Source:
SL 2020, ch 3, § 3, eff. Jul. 1, 2025.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-88 - [Effective until July 1, 2025] Disaster relief subfund--Reporting.

1-16G-88. [Effective until July 1, 2025] Disaster relief subfund--Reporting.
The commissioner shall provide a report at each regular meeting of the Board of Economic Development containing the name of each disaster relief subfund borrower, the amount of the loan, and the maturity date of the loan. The report shall be a public document and shall be posted on the Governor's Office of Economic Development website.
Source:
SL 2020, ch 3, § 4, eff. Mar. 31, 2020.
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1-16G-88.Repealed.
Source:
SL 2020, ch 3, § 4, eff. Jul. 1, 2025.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16G - Economic Development › Section 1-16G-89 - [Effective until July 1, 2025] Disaster relief subfund loans--Confidentiality.

1-16G-89. [Effective until July 1, 2025] Disaster relief subfund loans--Confidentiality.
The meetings and deliberations of the commissioner and the Governor's Office of Economic Development concerning loans from the disaster relief subfund are confidential and exempt from public disclosure, chapter 1-25, and chapter 1-27. Any documentary material or data made or received by the commissioner or the Governor's Office of Economic Development for the purpose of acting upon an application for a loan from the disaster relief subfund or administering the loan, to the extent that such material or data consists of trade secrets or commercial or financial information regarding the operation of such business, are not considered public records, and are exempt from disclosure. Nothing in this section prohibits the disclosure of confidential information to the extent necessary to collect or recoup the loan or the disclosure of confidential information to the Board of Economic Development.
Source:
SL 2020, ch 3, § 5, eff. Mar. 31, 2020.
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1-16G-89.Repealed.
Source:
SL 2020, ch 3, § 5, eff. Jul. 1, 2025.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-1 - Legislative findings.

1-16H-1. Legislative findings.
The Legislature finds and declares:
(1)That the State of South Dakota and the northern plains region of the United States are underrepresented and underdeveloped in the areas of scientific and technological investigation, experimentation, and development;
(2)That fostering and facilitating scientific and technological investigation, experimentation, and development will benefit the state economically and educationally by creating immediate and future jobs and educational opportunities, and will add to the quality of life of the citizens of South Dakota by adding to the general wealth of human knowledge;
(3)That the creation of the authority by this chapter will foster and facilitate scientific and technological investigation, experimentation, and development by creating a mechanism through which laboratory, experimental, and development facilities, both nonprofit and for-profit, both governmental and nongovernmental, may be acquired, developed, constructed, funded, maintained, and operated; and
(4)That the foregoing are public purposes and uses.
Source:
SL 2004, ch 15, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-2 - Purpose of authority.

1-16H-2. Purpose of authority.
The purpose of the authority created by this chapter is to foster and facilitate scientific and technological investigation, experimentation, and development by creating a mechanism through which laboratory, experimental, and development facilities may be acquired, developed, constructed, maintained, operated, and decommissioned.
Source:
SL 2004, ch 15, §2.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-5 - Board of directors--Appointment and terms.

1-16H-5. Board of directors--Appointment and terms.
The governing and administrative powers of the authority are vested in its board of directors, consisting of seven voting members. The president of the South Dakota School of Mines and Technology and the president of Black Hills State University are ex-officio, nonvoting members. The Governor shall appoint the voting members, with the advice and consent of the Senate. Not all voting members of the board may be of the same political party. The terms of the voting members of the board are six years. Members of the board may serve more than one term.
Source: SL 2004, ch 15, §5, eff. Feb. 11, 2004; SL 2014, ch 8, §1; SL 2023, ch 4, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-6 - Removal of members--Grounds.

1-16H-6. Removal of members--Grounds.
The Governor may remove any member of the board for cause, including incompetence, neglect of duty, or malfeasance in office.
Source:
SL 2004, ch 15, §6.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-7 - Compensation of members--Reimbursement of expenses.

1-16H-7. Compensation of members--Reimbursement of expenses.
Voting members of the board shall receive compensation for the performance of their duties as established by the Legislature in accordance with §4-7-10.4 from the funds of the authority. All members may be reimbursed at rates established by the Board of Finance for necessary expenses, including travel and lodging expenses, incurred in connection with the performance of their duties as members.
Source:
SL 2004, ch 15, §7, eff. Feb. 11, 2004; SL 2009, ch 1, §21; SL 2014, ch 8, §2.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-9 - Executive director, agents, and employees--Duties--Compensation.

1-16H-9. Executive director, agents, and employees--Duties--Compensation.
The board may appoint an executive director. The executive director may not be a member of the board. The executive director shall hold office at the discretion of the board. The executive director shall perform such duties as may be prescribed from time to time by the board and shall receive compensation fixed by the board. The board may engage the services of such other agents and employees as the board deems appropriate and may prescribe their duties and fix their compensation.
Source:
SL 2004, ch 15, §9; SL 2008, ch 11, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-10 - Meetings of the board.

1-16H-10. Meetings of the board.
The board shall meet on the call of the chair, upon the written request of four members of the board, or upon the request of the executive director.
Source:
SL 2004, ch 15, §10.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-11 - Quorum--Vote required for action.

1-16H-11. Quorum--Vote required for action.
A majority of the voting members of the board constitutes a quorum for the transaction of business. Any official act of the authority requires the affirmative vote of at least four voting members of the board at a meeting of the board at which the members casting those affirmative votes are present.
Source:
SL 2004, ch 15, §11, eff. Feb. 11, 2004; SL 2009, ch 1, §22; SL 2014, ch 8, §3.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-12 - Business interests not disqualification for membership--Abstention where conflict of interest.

1-16H-12. Business interests not disqualification for membership--Abstention where conflict of interest.
Notwithstanding any other law to the contrary it is not a conflict of interest for a trustee, director, officer, or employee of any health institution, educational institution, financial institution, investment banking firm, brokerage firm, commercial bank or trust company, architectural firm, engineering firm, mining firm, insurance company, or any other firm, person, or corporation to serve as a member of the authority, if the trustee, director, officer, or employee abstains from deliberation, action, and vote by the authority in each instance where the business affiliation of any such trustee, director, officer, or employee is involved.
Source:
SL 2004, ch 15, §12.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-13 - Open meetings--Notice.

1-16H-13. Open meetings--Notice.
Each meeting of the authority for any purpose whatsoever shall be open to the public as required by chapter 1-25. Notice of meetings shall be as provided in the bylaws of the authority. Resolutions need not be published or posted.
Source:
SL 2004, ch 15, §13.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-14 - Record of proceedings--Filings--Copies--Certification.

1-16H-14. Record of proceedings--Filings--Copies--Certification.
The executive director or other person designated by the authority shall keep a record of the proceedings thereof and shall be custodian of all books, documents, and papers filed with the authority, the minute books or journal of the authority and its official seal. The executive director or other person designated by the authority may cause copies to be made of all minutes and other records and documents of the authority and may give certificates under the official seal of the authority to the effect that such copies are true copies and all persons dealing with the authority may rely on such certificates.
Source:
SL 2004, ch 15, §14.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-16 - Promulgation of rules.

1-16H-16. Promulgation of rules.
The authority may, pursuant to chapter 1-26, promulgate rules necessary to regulate the authority's affairs, to carry into effect the powers and purposes of the authority, and to conduct its business, including rules to:
(1)Establish application procedures for grants and loans from the authority;
(2)Establish eligibility criteria for such grants or loans;
(3)Govern the use of proceeds of such grants or loans;
(4)Establish criteria for the terms and conditions upon which such grants or loans shall be made, including the security, if any, that may be required for such loans; and
(5)Establish criteria for the lease or other use of any real or personal property owned by the authority, or the placement of experiments in any facility owned or controlled by the authority.
Source:
SL 2004, ch 15, §16.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-17 - Loans and grants made by authority.

1-16H-17. Loans and grants made by authority.
Loans and grants made by the authority pursuant to the terms of this chapter shall be upon such terms and conditions as the authority may deem necessary, and may be with or without interest and on a secured or unsecured basis.
Source:
SL 2004, ch 15, §17.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-18 - Investment of funds.

1-16H-18. Investment of funds.
The authority may invest any funds not needed for immediate investment in the following:
(1)Bonds, notes, certificates of indebtedness, treasury bills, or other securities constituting direct obligations of, or obligations the principal of and interest on which are fully guaranteed or insured by, the United States of America;
(2)Obligations issued by or obligations the principal of and interest on which are fully guaranteed or insured by any agency or instrumentality of the United States of America;
(3)Certificates of deposit or time deposits constituting direct obligations of any bank which is a qualified public depository or any savings and loan association which is a savings and loan depository under the Public Deposit Insurance Act pursuant to chapter 4-6A, unless sufficient volume of such certificates is not available at competitive interest rates. In that event, the authority may purchase noncollateralized direct obligations of any bank or savings institution or holding company if such institution or holding company is rated in the highest two quality categories by a nationally recognized rating agency;
(4)Obligations of any solvent insurance company or other corporation or business entity existing under the laws of the United States or any state thereof, if the obligation of the insurance company or other corporation or business entity is rated in the two highest classifications established by a standard rating service of insurance companies or a nationally recognized rating agency;
(5)Short term discount obligations of the Federal National Mortgage Association;
(6)Obligations issued by any state of the United States or any political subdivision, public instrumentality, or public authority of any state of the United States, which obligations are not callable before the date the principal thereof will be required to be paid and which obligations are fully secured as to both sufficiency and timely payment by, and payable solely from, securities described in subdivision (1) and which obligations are rated in the highest investment classification by at least two standard rating services of such obligations.
Any securities may be purchased at the offering or market price thereof at the time of the purchase. All securities so purchased shall mature or be redeemable on a date or dates prior to the time when, in the judgment of the authority, the funds so invested will be required for expenditure. The express judgment of the authority as to the time when any funds will be required for expenditure or be redeemable is final and conclusive. Investment in any obligation enumerated in this section may be made either directly or in the form of securities of, or other interests in, an investment company registered under the Federal Investment Act of 1940, whose shares are registered under the Federal Securities Act of 1933, and whose investments are limited to these obligations.
Source:
SL 2004, ch 15, §18.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-18.1 - Investment of funds with State Investment Council.

1-16H-18.1. Investment of funds with State Investment Council.
In addition to the investments authorized by §1-16H-18, the authority may invest any funds of the authority in an account with the State Investment Council pursuant to chapter 4-5.
Source:
SL 2005, ch 11, §1.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-19 - Issuance of bonds, notes, or other evidence of indebtedness.

1-16H-19. Issuance of bonds, notes, or other evidence of indebtedness.
The authority may issue revenue bonds, notes, or other evidences of indebtedness to pay the cost incurred in connection with developing, constructing, acquiring, improving, maintaining, operating, and decommissioning projects. For the purpose of evidencing the obligations of the authority to repay any money borrowed, the authority may, pursuant to resolution, from time to time issue and dispose of its interest bearing revenue bonds, notes, or other instruments and may also from time to time issue and dispose of such bonds, notes, or other instruments to refund, at maturity, at a redemption date, or in advance of either, any revenue bonds, notes, or other instruments pursuant to redemption provisions or at any time before maturity. All such revenue bonds, notes, or other instruments are payable solely from the revenues or income to be derived with respect to projects, from the leasing or sale of the projects, or from any other funds available to the authority for such purposes. The revenue bonds, notes, or other instruments may bear such date or dates, may mature at such time or times not exceeding forty years from their respective dates, may bear interest at such rate or rates, may be in such form, may carry such registration privileges, may be executed in such manner, may be payable at such place or places, may be made subject to redemption in such manner and upon such terms, with or without premium as is stated on the face thereof, may be authenticated in such manner, and may contain such terms and covenants as may be provided by an applicable resolution.
Source:
SL 2004, ch 15, §19, eff. Feb. 11, 2004; SL 2009, ch 1, §23.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-20 - Suit to compel performance by holder of revenue bond, note, or instrument issued by authority.

1-16H-20. Suit to compel performance by holder of revenue bond, note, or instrument issued by authority.
Any holder of any revenue bonds, notes, or other instruments issued by the authority may bring suits at law or proceedings in equity to compel the performance and observance by any corporation or person or by the authority or any of its agents or employees of any contract or covenant made with the holders of such revenue bonds, notes, or other instruments, to compel such corporation, person, the authority, and any of its agents or employees to perform any duties required to be performed for the benefit of the holders of any such revenue bonds, notes, or other instruments by the provision of the resolution authorizing their issuance and to enjoin such corporation, person, the authority, and any of its agents or employees from taking any action in conflict with any such contract or covenant.
Source:
SL 2004, ch 15, §20.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-21 - Suit by holder of revenue bond to compel payment of principal, interest, or premium--Jurisdiction.

1-16H-21. Suit by holder of revenue bond to compel payment of principal, interest, or premium--Jurisdiction.
If the authority fails to pay the principal of or interest on any of the revenue bonds or premium, if any, as the principal or interest becomes due, a civil action to compel payment may be instituted in the appropriate circuit court by the holder or holders of the revenue bonds on which such default of payment exists or by an indenture trustee acting on behalf of such holders. Delivery of a summons and a copy of the complaint to the chair of the board constitutes sufficient service to give the circuit court jurisdiction of the subject matter of such a suit and jurisdiction over the authority and its officers named as defendants for the purpose of compelling such payment.
Source:
SL 2004, ch 15, §21, eff. Feb. 11, 2004; SL 2009, ch 1, §24.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-22 - Negotiability of bonds, notes, or instruments--Temporary bonds, notes, or instruments.

1-16H-22. Negotiability of bonds, notes, or instruments--Temporary bonds, notes, or instruments.
Notwithstanding the form and tenor of any such revenue bonds, notes, or other instruments and in the absence of any express recital on the face of any such revenue bond, note, or other instruments that it is non-negotiable, all such revenue bonds, notes, and other instruments are negotiable instruments. Pending the preparation and execution of any such revenue bonds, notes, or other instruments, temporary revenue bonds, notes, or instruments may be issued as provided by resolution.
Source:
SL 2004, ch 15, §22, eff. Feb. 11, 2004; SL 2009, ch 1, §25.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-23 - Pledge of revenues from lease or loan agreement--Trust agreement.

1-16H-23. Pledge of revenues from lease or loan agreement--Trust agreement.
To secure the payment of any or all of such revenue bonds, notes, or other instruments, the revenues to be received by the authority from a lease agreement or loan agreement shall be pledged, and, for the purpose of setting forth the covenants and undertakings of the authority in connection with the issuance thereof and the issuance of any additional revenue bonds, notes, or other instruments payable from such revenues, income, or other funds to be derived from projects, the authority may execute and deliver a trust agreement. A remedy for any breach or default of the terms of any such trust agreement by the authority may be by mandamus proceedings in the appropriate circuit court to compel the performance and compliance therewith, but the trust agreement may prescribe by whom or on whose behalf the action may be instituted.
Source:
SL 2004, ch 15, §23.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-24 - Pledge or assignment of or lien on or security interest in revenues, funds, or accounts.

1-16H-24. Pledge or assignment of or lien on or security interest in revenues, funds, or accounts.
The revenue bonds or notes shall be secured as provided in the authorizing resolution which may, notwithstanding any other provision of this chapter, include in addition to any other security a specific pledge or assignment of and lien on or security interest in any or all revenues or money of the authority from whatever source which may by law be used for debt service purposes and a specific pledge or assignment of and lien on or security interest in any funds or accounts established or provided for by resolution of the authority authorizing the issuance of such revenue bonds, notes, or other instruments. Any pledge made by the authority of revenues or other moneys received or to be received by the authority pursuant to an agreement with a governmental agency relating to a project to pay revenue bonds, notes, or other evidences of indebtedness of the authority is binding from the time the pledge is made. Revenues and other moneys received or to be received by the authority pursuant to an agreement with a governmental agency relating to a project so pledged to pay revenue bonds, notes, or other evidences of indebtedness of the authority shall be held outside of the state treasury and in the custody of the authority or a trustee or a depository appointed by the authority. Revenues or other moneys received or to be received by the authority pursuant to an agreement with a governmental agency relating to a project so pledged to pay revenue bonds, notes, or other evidences of indebtedness of the authority and thereafter received by the authority or such trustee or depository is immediately subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any pledge is binding against all parties having claims of any kind of tort, contract, or otherwise against the authority or the State of South Dakota, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be filed or recorded except in the records of the authority.
Source:
SL 2004, ch 15, §24, eff. Feb. 11, 2004; SL 2009, ch 1, §26.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-25 - Pledge by state not to impair rights and remedies of holders of bonds and notes.

1-16H-25. Pledge by state not to impair rights and remedies of holders of bonds and notes.
The State of South Dakota pledges to and agrees with the holders of the revenue bonds and notes of the authority issued pursuant to this chapter that the state will not limit or decrease the rights and powers vested in the authority by this chapter so as to impair the terms of any contract made by the authority with such holders or in any way impair the rights and remedies of such holders until such revenue bonds, notes, or other instruments, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of such holders, are fully met and discharged. The authority is authorized to include these pledges and agreements of the state in any contract with the holders of revenue bonds, notes, or other instruments issued pursuant to this section.
Source:
SL 2004, ch 15, §25.
2023 South Dakota Codified Laws › Title 1 - State Affairs and Government › Chapter 16H - Science And Technology Authority › Section 1-16H-26 - State not liable for principal or interest on bonds, notes, instruments, or obligations of authority.

1-16H-26. State not liable for principal or interest on bonds, notes, instruments, or obligations of authority.
Nothing in this chapter may be construed to authorize the authority to create a debt of the state within the meaning of the Constitution or statutes of South Dakota and all revenue bonds, notes, other instruments and obligations issued by the authority pursuant to the provisions of this chapter are payable and shall state that they are payable solely from the funds pledged for their payment in accordance with the resolution authorizing their issuance or in any trust indenture or mortgage or deed of trust executed as security therefor. The state is not in any event liable for the payment of the principal of or interest on any bonds, notes, instruments, or obligations issued by the authority or for the performance of any pledge, mortgage, obligation, or agreement of any kind whatsoever which may be undertaken by the authority. No breach of any such pledge, mortgage, obligation, or agreement may impose any pecuniary liability upon the state or any charge upon its general credit or against its taxing power.
Source:
SL 2004, ch 15, §26.