49-16B SOUTH DAKOTA RAILROAD AUTHORITY
SOUTH DAKOTA RAILROAD AUTHORITY
Legislative declarations--Public participation in railroad ownership and operation.
Definitions of terms.
Railroad authority created--Members--Elected officials ineligible--Chairperson.
Authority attached to bureau of finance and management for reporting purposes--Exercise of functions.
Terms of members--Vacancies--Quorum.
Oath and bond of members.
Per diem and expenses.
Agents and employees.
Projects authority may undertake.
Report to legislature recommending projects.
Transfer of jurisdiction or property to authority--Governor's approval.
Acquisition of property--Construction and maintenance of railroad facilities.
Approval of expenditures by railroad board and Governor.
Maintenance of public railroad property by Department of Transportation.
Department of Transportation's powers as to projects.
Lease of facilities and sites.
Lease terms, conditions and rentals.
Leases to contain option to purchase--Purchase price.
Lease provisions for lessee's payment of taxes, insurance and other costs.
Leases to Department of Transportation--Rents payable solely from appropriations--Amount.
Nonpayment of rent--Maintenance, operation, or lease of facilities.
Rental and charges for facilities leased to other than Department of Transportation--Conveyance at conclusion.
Tax exempt status of authority's property.
Negotiable revenue bonds--Resolution for issuance--Legislative approval.
Borrowing money and issuing bonds authorized--Refunding and refinancing--Pledge
of income and revenues.
Bonds and notes--Resolution--Issuance--Terms.
Bonds--Repayment from lease income and revenues from facilities financed.
Bonds--Execution and registration--Officers' signatures.
Bonds--Statements on face.
Obligation of state not authorized.
Contract with holders--Enforcement.
Interim notes--Purposes for which authorized.
Interim notes--Issuance pursuant to resolution--Contents of resolution--Extending
Interim notes--Interest--Redemption by authority.
Interim notes--Secured by pledge--Repayment from sale of revenue bonds and
Interim notes--Additional security for payment.
Interim notes not indebtedness within constitutional or statutory limitations.
Payment of interim notes contemporaneously with issue of revenue bonds or escrow
of bond proceeds for future repayment.
Interim notes--No personal liability.
Income of authority--Payment to state treasurer or trustee--Railroad authority fund--Disbursements.
Authority to account for income--Disbursements from accounts in fund.
Conveyance of property to state by authority.
Record of lease rental payments--Conveyance of property to state upon receipt of
sufficient rentals to pay bonds.
Contract power of authority.
Bylaws, rules and regulations of authority.
49-16B-48 to 49-16B-68. Repealed.