South Dakota Codified Laws 7-21-16.1. Counties authorized to enter lease-purchase agreement to lease real or personalproperty–Longer agreements for jails and juvenile detention facilities
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The provisions of § 7-21-16 or any other provision of law notwithstanding, any county may enter into a lease–purchase agreement for a term of years, not exceeding ten, for the purchase or lease by the county of real or personal property. However, if a lease–purchase agreement is for the purchase or lease of a jail or juvenile detention facility, the agreement may be for a term of years, not exceeding twenty years.
Any lease–purchase agreement for a term exceeding one year requires the approval of more than sixty percent of the members–elect of the board of commissioners. The final adoption of any lease–purchase agreement shall be by resolution which may be referred pursuant to chapter 7-18A.
Terms Used In South Dakota Codified Laws 7-21-16.1
- 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 1995, ch 37, § 1; SL 1996, ch 57.