South Dakota § 46A-1-18 - Loan of interim note proceeds to public entity or person for project that state or federal agency is committed to finance--Notes issued prior to financing arrangement.
Full text of South Dakota South Dakota Codified Laws § 46A-1-18 — Loan of interim note proceeds to public entity or person for project that state or federal agency is committed to finance--Notes issued prior to financing arrangement., with citation guidance and answers to common questions.
§ 46A-1-18. Loan of interim note proceeds to public entity or person for project that state or federal agency is committed to finance--Notes issued prior to financing arrangement.
In addition to its other powers, the district may enter into financing arrangements with any public entity or person to loan the proceeds of the district's interim notes to any public entity or person for a project anywhere within this state. The district may adopt the necessary resolution for the loan without specific authorization of the Legislature and without regard to the limitations, provisions, or requirements of any other law except this chapter and chapter 46A-2, and in addition to the aggregate indebtedness otherwise authorized by the Legislature if an agency of the State of South Dakota or an agency or instrumentality of the United States government has committed itself to make a grant or loan to the public entity or person. Under this section, the district may only provide interim financing less than or equal to the combined federal and state grant or loan commitments on each project and may not apply the proceeds of the interim notes and financing to any purpose other than expenses allowed by § 46A-1-17 and the project for which the financing arrangement is made. The person or public entity receiving this interim financing may apply the proceeds of the district's interim notes to the project without specific authorization of the project by the Legislature.
Notes to make loans pursuant to this section may be issued before the district has entered into any financing arrangement if the principal amount of notes does not exceed the amount which the district estimates to be required to enter into financing arrangements and if a grant or loan commitment is received before the district lends note proceeds pursuant to any financing arrangement.
Source: SL 1979, ch 301, § 5; SL 1980, ch 309, § 1; SL 1980, ch 310, § 16; SDCL Supp, § 46-17A-23.1; SL 1983, ch 315, § 14; SL 2011, ch 165, § 289.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 46A-1-18
What does South Dakota Codified Laws § 46A-1-18 cover?
Section 46A-1-18 ("Loan of interim note proceeds to public entity or person for project that state or federal agency is committed to finance--Notes issued prior to financing arrangement.") 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 § 46A-1-18?
A common citation format is "South Dakota Codified Laws § 46A-1-18" (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 § 46A-1-18 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.