South Dakota § 49-16B-44 Record of lease rental payments--Conveyance of property to state upon receipt of sufficient rentals to pay bonds.

South Dakota Statutes

§ 49-16B-44 — Record of lease rental payments--Conveyance of property to state upon receipt of sufficient rentals to pay bonds.

South Dakota § 49-16B-44

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-16BSOUTH DAKOTA RAILROAD AUTHORITY

This text of South Dakota § 49-16B-44 (Record of lease rental payments--Conveyance of property to state upon receipt of sufficient rentals to pay bonds.) 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 § 49-16B-44 (2026).

Text

An accurate record shall be kept of the rental payments under each lease entered into by the authority or Department of Transportation. If the rentals applicable to each project or facility, or any combination thereof, constructed, completed, improved, and equipped are paid, in amounts sufficient to amortize and pay the principal of and interest upon the total principal amounts of bonds of the authority issued to pay the cost of each project or facility, including maintenance and operation expenses and that proportion of the administrative expense of the authority as provided for by each lease, the property shall, except as may be otherwise provided in a lease, be conveyed without charge to the State of South Dakota.

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An accurate record shall be kept of the rental payments under each lease entered into by the authority or Department of Transportation. If the rentals applicable to each project or facility, or any combination thereof, constructed, completed, improved, and equipped are paid, in amounts sufficient to amortize and pay the principal of and interest upon the total principal amounts of bonds of the authority issued to pay the cost of each project or facility, including maintenance and operation expenses and that proportion of the administrative expense of the authority as provided for by each lease, the property shall, except as may be otherwise provided in a lease, be conveyed without charge to the State of South Dakota.