South Dakota § 4-5-41 School district eligibility--Determination and certification.

South Dakota Statutes

§ 4-5-41 — School district eligibility--Determination and certification.

South Dakota § 4-5-41

Title 4PUBLIC FISCAL ADMINISTRATION

Ch. 4-3CUSTODY AND INVESTMENT OF STATE FUNDS

This text of South Dakota § 4-5-41 (School district eligibility--Determination and certification.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 4-5-41 (2026).

Text

A school district is an eligible school district for the purposes of §§ 4-5-40 to 4-5-44 , inclusive, if the Health and Educational Facilities Authority determines and certifies to the State Investment Council and the Governor that the school district is:

(1)Expected to have sufficient tax and other revenues in the applicable fiscal year sufficient to pay principal and interest when due on all promissory notes issued or to be issued by the school district in connection with any program established by the Health and Educational Facilities Authority pursuant to § 1-16A-75 ; and (2) That the principal amount of any promissory notes issued by the school district in connection with such program does not exceed the principal amount of general obligation funding bonds that the district is,

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A school district is an eligible school district for the purposes of §§ 4-5-40 to 4-5-44 , inclusive, if the Health and Educational Facilities Authority determines and certifies to the State Investment Council and the Governor that the school district is: (1) Expected to have sufficient tax and other revenues in the applicable fiscal year sufficient to pay principal and interest when due on all promissory notes issued or to be issued by the school district in connection with any program established by the Health and Educational Facilities Authority pursuant to § 1-16A-75 ; and (2) That the principal amount of any promissory notes issued by the school district in connection with such program does not exceed the principal amount of general obligation funding bonds that the district is, as of the date of certification, authorized to issue under § 13-19-7 and Article XIII, § 4 of the Constitution.