1-16A-96. Appropriation for payments pursuant to lease purchase agreements--Agreement dated August 1, 1988 ratified.
Any lease payments made to the authority pursuant to lease purchase agreements with the Western Dakota Technical College, the Southeast Technical College, the Lake Area Technical College, the Mitchell Technical College, or the South Dakota Board of Technical Education under the authority of chapter 13-39A shall be paid in part from an appropriation to be made by the Legislature in an amount that is equal to twenty-seven percent of the current year lease purchase agreement payments.
No provision of chapter 81 of the 2017 Session Laws adversely affects any of the covenants or other agreements of the South Dakota Board of Education or the secretary of education in the lease purchase agreement with the authority dated August 1, 1988, as amended and supplemented, for the benefit of the holders of any bonds issued by the authority, and such covenants and agreements in the lease purchase agreement dated August 1, 1988, as amended and supplemented, are hereby ratified and confirmed.
Source: SL 2013, ch 6, §6; SL 2015, ch 6, §3; SL 2016, ch 109, §17; SL 2017, ch 81, §51; SL 2020, ch 61, § 31.