South Dakota Codified Laws 49-16B-15. Lease of facilities and sites
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To accomplish projects of the kind listed in § 49-16B-10, the authority may execute leases of facilities and sites to, and charge for the use of any such facilities and sites by the Department of Transportation or other lessee. Leases may be entered into contemporaneously with any financing to be done by the authority and payments under the terms of a lease shall begin at any time after execution of any lease.
Terms Used In South Dakota Codified Laws 49-16B-15
- 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 1980, ch 323, § 15; SL 1981 (2d SS), ch 4, § 6; SL 1996, ch 20, § 25.