South Dakota Codified Laws 1-16H-30. Acquisition of property
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The authority may acquire by purchase, lease, gift, or otherwise any property or rights to any property from any person or any governmental agency, whether improved for the purposes of any prospective project or unimproved. The authority may also accept any donation of funds for its purposes from any of those sources.
Terms Used In South Dakota Codified Laws 1-16H-30
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- Person: includes , without limitation, an individual, corporation, limited liability company, unincorporated association, foundation, partnership, limited liability partnership, and any other legal entity, including a trustee, receiver, assignee, or personal representative of the entity. See South Dakota Codified Laws 1-16H-3
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 2004, ch 15, § 30.