South Dakota Codified Laws 1-16A-34. Annual planning service fee payable to authority
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In addition to such initial fee, an annual planning service fee shall be paid to the authority by each participating health institution and each participating educational institution in an amount not exceeding one–fourth of one percent of the principal amount of bonds issued on behalf of such institution and outstanding on the first rental payment date under its lease and on each anniversary date thereafter. Such annual planning service fee shall be paid on said dates or in installments as may be satisfactory to the authority.
Terms Used In South Dakota Codified Laws 1-16A-34
- Authority: means the South Dakota Health and Educational Facilities Authority created by this chapter. See South Dakota Codified Laws 1-16A-2
- Educational institution: means any private nonprofit corporation or institution authorized by law to provide or operate educational facilities and to provide a program of education beyond the high school level in this state. See South Dakota Codified Laws 1-16A-2
- Health institution: means any private nonprofit corporation or institution authorized by law to provide or operate health facilities in this state, or any private nonprofit corporation or institution authorized by law to provide or operate health facilities outside this state. See South Dakota Codified Laws 1-16A-2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Source: SL 1972, ch 10, § 15.