South Dakota § 5-12-36 Authority to convey property to state when debt paid or payment provided for--Reversion to authority.

South Dakota Statutes

§ 5-12-36 — Authority to convey property to state when debt paid or payment provided for--Reversion to authority.

South Dakota § 5-12-36

Title 5PUBLIC PROPERTY, PURCHASES AND CONTRACTS

Ch. 5-11SOUTH DAKOTA BUILDING AUTHORITY

This text of South Dakota § 5-12-36 (Authority to convey property to state when debt paid or payment provided for--Reversion to authority.) 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 § 5-12-36 (2026).

Text

To accomplish projects of the kind listed in this chapter, the Building Authority may convey property, without charge, to the State of South Dakota, if all debts which have been secured by the income from the property have been paid. The authority may transfer title and jurisdiction to the State of South Dakota of facilities, for which bonds have been issued and payment for the bonds has been provided for by an escrow. The facility shall revert to the authority if the lessee fails to make lease payments in connection with the facility until the bonds are paid.

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To accomplish projects of the kind listed in this chapter, the Building Authority may convey property, without charge, to the State of South Dakota, if all debts which have been secured by the income from the property have been paid. The authority may transfer title and jurisdiction to the State of South Dakota of facilities, for which bonds have been issued and payment for the bonds has been provided for by an escrow. The facility shall revert to the authority if the lessee fails to make lease payments in connection with the facility until the bonds are paid.