South Dakota § 5-12-35 Accounts maintained by authority--Purpose of disbursements from public building fund.

South Dakota Statutes

§ 5-12-35 — Accounts maintained by authority--Purpose of disbursements from public building fund.

South Dakota § 5-12-35

Title 5PUBLIC PROPERTY, PURCHASES AND CONTRACTS

Ch. 5-11SOUTH DAKOTA BUILDING AUTHORITY

This text of South Dakota § 5-12-35 (Accounts maintained by authority--Purpose of disbursements from public building fund.) 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 § 5-12-35 (2026).

Text

The Building Authority shall keep account of the gross total income derived from each separate project or any combination thereof undertaken pursuant to this chapter. Disbursements from a given account in the public building fund shall be ordered by the authority only for the payment of:

(1)The cost of maintenance and operation of the facility or facilities, unless otherwise provided for;

(2)The principal of and interest on the bonds issued for each project, or combination thereof; and (3) Any other purposes set forth in the resolution authorizing the issuance of said bonds.

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The Building Authority shall keep account of the gross total income derived from each separate project or any combination thereof undertaken pursuant to this chapter. Disbursements from a given account in the public building fund shall be ordered by the authority only for the payment of: (1) The cost of maintenance and operation of the facility or facilities, unless otherwise provided for; (2) The principal of and interest on the bonds issued for each project, or combination thereof; and (3) Any other purposes set forth in the resolution authorizing the issuance of said bonds.