46A-2-16 Leverage lease agreements by board--District as lender and lessee--Sublease of equipment.
Leverage lease agreements by board--District as lender and lessee--Sublease of
The Board of Water and Natural Resources may become a party to a leverage lease
agreement whereby the district loans up to eighty percent of the cost of construction and equipment
for a water development project sponsored by or built for a political subdivision of the State of South
Dakota to a person or persons who agrees to own in fee simple such works and equipment and lease
them back to the district or political subdivision. The district may be both lender and lessee on such
leverage lease, and, in the event it is lessee, it may sublease such works and equipment.
Source: SL 1977, ch 369, § 1; SDCL Supp, § 46-17-17.1.