South Dakota 11 — South Dakota Housing Development Authority
- 11-11-1 — Legislative findings.
- 11-11-2 — Declaration of necessity for development authority.
- 11-11-3 — Powers necessary for development authority.
- 11-11-4 — Declaration of public purposes and public interest.
- 11-11-5 — Definition of terms.
- 11-11-5.1 — "Single family residential housing" defined.
- 11-11-6 — Developments and projects subject to chapter.
- 11-11-7 — Sponsors eligible under chapter.
- 11-11-8 — Repealed.
- 11-11-9 — Costs covered by chapter.
- 11-11-10 — Development authority created--Independent instrumentality.
- 11-11-11 — Reporting through Department of Tourism and State Development.
- 11-11-12 — Appointment of commissioners--Political affiliations.
- 11-11-13 — State officers and employees eligible as commissioners.
- 11-11-14 — Corporate officers and employees eligible as commissioners--Abstentionon conflict of interests.
- 11-11-15 — Terms of office of commissioners--Vacancy--Restrictions onreappointment.
- 11-11-16 — Surety bonds of commissioners and executive director--Blanket bond--Payment of cost.
- 11-11-17 — Removal of commissioner from office.
- 11-11-18 — Officers of commissioners.
- 11-11-19 — Meetings of commissioners--Quorum--Majority required for action.
- 11-11-20 — Compensation of commissioners.
- 11-11-21 — Appointment and duties of executive director--Employment of otherpersonnel--Delegation of powers.
- 11-11-22 — Salaries of executive director and other employees.
- 11-11-23 — Benefits of state employees extended to authority employees--Retroactivecoverage.
- 11-11-24 — Records maintained by secretary--Certified copies--Publication ofresolutions.
- 11-11-25 — Powers of local commissions conferred upon authority--Approval by localgoverning body required--Cooperation with local commissions.
- 11-11-26 — General powers in implementation of chapter.
- 11-11-27 — Corporate powers of authority.
- 11-11-28 — Consolidation of processing for developments and projects.
- 11-11-29 — Policy favoring private business firms.
- 11-11-30 — Bylaws, rules, and regulations.
- 11-11-31 — Research and development.
- 11-11-32 — Environmental planning--Purposes.
- 11-11-33 — Advice and technical assistance to developments, projects and residents.
- 11-11-34 — Cooperation with federal and other governmental agencies.
- 11-11-35 — Contracts with governmental agencies and private parties--Support andstaff services to South Dakota Building Authority for loans to farmers orranchers pursuant to chapter 5-12.
- 11-11-36 — Execution of necessary instruments.
- 11-11-37 — Acceptance of legislative appropriations--Purposes to which applied.
- 11-11-38 — Annual informational budget required--Inclusion in Governor's budgetreport.
- 11-11-39 — Acceptance of grants and contributions--Purposes to which applied.
- 11-11-40 — Residual powers of authority.
- 11-11-41 — Borrowing power of authority--Evidences of indebtedness.
- 11-11-42 — Financing, reserves, and incidental costs included in amounts borrowed.
- 11-11-43 — Issuance of notes and bonds--Purposes for which used.
- 11-11-44 — Validation of notes and bonds issued prior to June 11, 1980, amendments.
- 11-11-45 — Amount of notes and bonds--Maximum aggregate principal amount ofqualified private activity bonds.
- 11-11-46 — Repealed.
- 11-11-47 — Authority as a state housing credit agency under federal law--Allocationof state ceiling of qualified private activity bonds.
- 11-11-48 — Compliance with federal conditions for qualified mortgage bonds.
- 11-11-49 — Public debt not created by authority obligations--Statement on face ofobligations.
- 11-11-50 — Refunding of notes and bonds.
- 11-11-51 — Consent of other public agencies not required for bonds or notes--Procedural requirements of other laws not applicable.
- 11-11-52 — Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.
- 11-11-53 — Notes and bonds as general obligations of authority--Exception.
- 11-11-54 — Pledge of revenues to secure notes and bonds.
- 11-11-55 — Pledge of assets to secure notes and bonds.
- 11-11-56 — Limitations on application of proceeds of notes and bonds.
- 11-11-57 — Limitations on additional and refunding notes and bonds.
- 11-11-58 — Limitations on use of mortgage income by authority.
- 11-11-59 — Limitations on operating expenses of authority.
- 11-11-60 — Reserves and sinking funds required by holders of obligations.
- 11-11-61 — Procedure for amendment of contracts with noteholders or bondholders.
- 11-11-62 — Powers vested in trustee--Appointment by bondholders.
- 11-11-63 — Default on obligations defined--Remedies of holders.
- 11-11-64 — Other provisions for security of holders of obligations.
- 11-11-65 — Trust indenture to secure bonds--Contents--Expenses of trust indenture--Separate trustee not authorized.
- 11-11-66 — Pledge binding when made--Attachment of lien.
- 11-11-67 — Continuing validity of signatures by commissioners or officers.
- 11-11-68 — Federal insurance and guaranties of obligations issued by authority.
- 11-11-69 — Purpose of capital reserve fund requirements.
- 11-11-70 — Establishment of capital reserve funds--Moneys paid into funds.
- 11-11-71 — Amount required in capital reserve fund for each year.
- 11-11-72 — Valuation of securities held by capital reserve funds.
- 11-11-73 — Transfer to other funds of capital reserve fund income.
- 11-11-74 — Purposes to which moneys in reserve funds applied--Maintenance ofrequired amount.
- 11-11-75 — Deposit in reserve fund of bond proceeds necessary to maintain requiredamount.
- 11-11-76 — Annual budget estimate for restoration of capital reserve fund--Governor'sbudget--Deposit of appropriated funds.
- 11-11-77 — Other funds created by authority.
- 11-11-78 — Purchase of own bonds or notes by authority--Cancellation or resale.
- 11-11-79 — Price at which notes and bonds repurchased for cancellation.
- 11-11-80 — Refunding obligations authorized--Application of provisions applicable tooriginal obligations.
- 11-11-81 — Sale or exchange of refunding obligations--Investment of proceedspending redemption of original obligations.
- 11-11-82 — Procedural requirements of other borrowing and contract laws notapplicable.
- 11-11-83 — Appointment of trustees by holders of obligations after default byauthority.
- 11-11-84 — Enforcement of creditors' rights by trustee--Collection of mortgagepayments.
- 11-11-85 — Proceedings by trustee on loans to mortgage lenders--Application ofcollateral.
- 11-11-86 — Acceleration of bonds or notes by trustee--Annulment of declaration.
- 11-11-87 — Notice by trustee before accelerating bonds or notes.
- 11-11-88 — Action by trustee on bonds or notes.
- 11-11-89 — Injunction action by trustee.
- 11-11-90 — Accounting required by trustee.
- 11-11-91 — Circuit court jurisdiction of proceedings by trustee.
- 11-11-92 — Incidental and residual powers of trustee.
- 11-11-93 — Pledge that state will not impair contract--Inclusion in agreement withholders of obligations.
- 11-11-94 — Personal liability not created by bonds or notes.
- 11-11-95 — Negotiability of bonds and notes.
- 11-11-96 — Securities regulation--Bonds treated as securities of state instrumentality.
- 11-11-97 — Bonds and notes as legal investments for financial institutions andfiduciaries.
- 11-11-97.1 — Authority may contract to manage payment or interest rate risk for bonds.
- 11-11-98 — Investment of surplus funds of authority--Securities authorized.
- 11-11-99 — Loans to homeowners to cover initial costs.
- 11-11-100 — Acquisition and disposition of property by authority--Other laws notapplicable.
- 11-11-101 — Exemption of authority from taxes, recording fees and transfer taxes.
- 11-11-102 — Contracts for technical and advisory services--Compensation.
- 11-11-103 — Refinancing or foreclosure of mortgages in default--Modification ofmortgages--Enforcement--Purchase at mortgage sale--Management ofproperty.
- 11-11-104 — Contracts for financial institutions to service mortgages acquired byauthority.
- 11-11-105 — Modification of mortgages, loans, and agreements held by authority.
- 11-11-106 — Insurance by authority of loans made by mortgage lenders.
- 11-11-107 — Insurance of property of authority.
- 11-11-108 — Agreements for assistance to authority in finding lenders.
- 11-11-109 — Repealed.
- 11-11-110 — Mortgage loans to finance construction or rehabilitation of housing.
- 11-11-111 — Mortgage loans to purchasers of residential housing.
- 11-11-112 — Refusal by private lender not required.
- 11-11-113 — Repealed.
- 11-11-114 — Confidentiality of applications and financial information.
- 11-11-115 — Applications--Signatures and certification required--Perjury.
- 11-11-116 — Surveys of mortgagors to determine program effectiveness--Limitation oninformation that may be required.
- 11-11-117 — Construction to be substantially completed, or final insurance or guaranteecertificate issued before loan disbursed.
- 11-11-118 — Additional lending powers of authority.
- 11-11-119 — Purchase of mortgages from mortgage lenders.
- 11-11-120 — Purchase of securities from mortgage lenders.
- 11-11-121 — Purchase from lenders of notes originated for sale to authority.
- 11-11-122 — Loans to mortgage lenders for new residential mortgages.
- 11-11-123 — Requirements for transactions with mortgage lenders.
- 11-11-124 — Eligibility of obligations purchased from mortgage lenders for purchase orpurchase commitment--Criteria.
- 11-11-125 — Repealed.
- 11-11-126 — Price paid by authority for mortgage loans purchased--Accrued interest.
- 11-11-127 — Purchase and sale of federally guaranteed or insured mortgage loans.
- 11-11-128 — Rules and regulations for loan transactions by authority.
- 11-11-129 — Objectives to be secured by rules and regulations.
- 11-11-130 — Terms of loans to assure payment of authority obligations.
- 11-11-131 — Restrictions on transfer of housing financed by loans originated for sale toauthority.
- 11-11-132 — Time allowed mortgage lender to reinvest loans from authority--Eligiblereinvestments.
- 11-11-133 — Collateral required on loans to mortgage lenders.
- 11-11-134 — Purchase of federally insured housing mortgages.
- 11-11-135 — Sale by authority of mortgage or obligation held.
- 11-11-136 — Foreclosure against collateral securing loans to mortgage lenders.
- 11-11-137 — Actions on loans granted by authority.
- 11-11-138 — Receiver appointed to safeguard authority's loan.
- 11-11-139 — Reorganization of housing sponsor subject to control by authority.
- 11-11-140 — Notice to authority before sale of real property on judgment againsthousing sponsor--Protective steps taken by authority.
- 11-11-141 — Rules and regulations of authority--Scope.
- 11-11-142 — Contracts with housing sponsors.
- 11-11-143 — Rules governing sponsors of single-family units.
- 11-11-144 — Provisions governing loans and other financing to sponsors of multifamilyunits and day-care facilities.
- 11-11-145 — Rules to conform to federal guidelines.
- 11-11-146 — Municipal or county government certification of need and market studyprerequisite to financing multifamily project.
- 11-11-146.1 — Market study--Required contents.
- 11-11-147 — Temporary construction and development loans for multifamily projectsand day-care facilities.
- 11-11-148 — Loans restricted to sponsors meeting statutory definition.
- 11-11-149 — Amount and amortization period of FHA loans.
- 11-11-150 — Amount and amortization of non-FHA loans.
- 11-11-151 — Terms, provisions and form of loans or other financing to be approved.
- 11-11-152 — Interest rates on which loans made--Additional charges.
- 11-11-153 — Repealed.
- 11-11-154 — Criteria for determining priority of loans.
- 11-11-155 — Bonds and assurances required of sponsor receiving loans.
- 11-11-156 — Restrictions on rent, charges, property disposition and franchises ofsponsor receiving loans and other financing.
- 11-11-157 — Restrictions on profit distribution by housing sponsor receiving loan.
- 11-11-158 — Establishment of sponsor's equity in housing development.
- 11-11-159 — Rent reductions on accumulation of excess earnings--Increase in reservespermitted.
- 11-11-160 — Access of authority to premises of development or project--Inspection andaudits--Costs.
- 11-11-161 — Changes and repairs ordered in development.
- 11-11-162 — Orders by authority to comply with laws and regulations--Prosecution ofviolations.
- 11-11-163 — Accounts, records, and reports required of multifamily unit sponsors andday-care facilities.
- 11-11-164 — Access of authority to multifamily units and day-care facilities--Inspectionand audits.
- 11-11-165 — Costs allowable in multifamily units and day-care facilities--Audit andcertification.
- 11-11-166 — Tenant selection standards for multifamily units.
- 11-11-167 — Repealed.
- 11-11-168 — Sponsor plans for tenant selection--Regulations.
- 11-11-169 — Tenant selection by local commission.
- 11-11-170 — Repealed.
- 11-11-175 — Supervision by authority of maintenance of multifamily unit and day-carefacility--Repairs ordered.
- 11-11-176 — Schedule of rents and charges for multifamily unit and day-care facility.
- 11-11-177 — Inspection and auditing fees for multifamily units and day-care facilities.
- 11-11-178 — Compliance with laws and regulations required in multifamily units andday-care facilities.
- 11-11-179 — Retirement and redemption of investments in sponsor of multifamily unitsand day-care facilities.
- 11-11-180 — General power to make rules and regulations.
- 11-11-181 — Annual report by authority to Governor and Legislature.
- 11-11-182 — Annual audit of authority--Filing with department.
- 11-11-183 — Chapter cumulative and supplemental to other laws.
- 11-11-184 — Chapter controlling over other laws.
- 11-11-185 — Citation of chapter.
- 11-11-186 — Energy conservation standards--Enforcement--Certification of inspectors.
- 11-11-187 — Rules governing energy conservation inspections.
- 11-11-188 — Rules to adopt more extensive energy use and consumption standardsprohibited.
- 11-11-189 — Repealed.