South Dakota § 13-16-4 - Lease payments from general fund in federally affected areas--Purchase on option made from capital outlay fund.
Full text of South Dakota South Dakota Codified Laws § 13-16-4 — Lease payments from general fund in federally affected areas--Purchase on option made from capital outlay fund., with citation guidance and answers to common questions.
§ 13-16-4. Lease payments from general fund in federally affected areas--Purchase on option made from capital outlay fund.
The general fund in any school district authorized to receive funds from the federal government under Public Law 874 may be utilized for lease payments on equipment, teacherages, buildings, and other real estate, subject to the limitation that no more than ten percent of the general fund budget may be expended for lease payments during any school fiscal year. If the lease agreement provides for an option to purchase the leased property at the end of the lease period upon payment of a stipulated amount, the final payment at the end of the lease which shall result in acquisition of the property and title thereto, shall be made from the capital outlay fund subject to the provisions of §§ 13-16-6 to 13-16-9, inclusive.
Source: SDC Supp 1960, § 15.2202 as added by SL 1963, ch 74, § 2; SL 1964, ch 40.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 13-16-4
What does South Dakota Codified Laws § 13-16-4 cover?
Section 13-16-4 ("Lease payments from general fund in federally affected areas--Purchase on option made from capital outlay fund.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 13-16-4?
A common citation format is "South Dakota Codified Laws § 13-16-4" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 13-16-4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.