46A-1-19. Interim financing--Proper authority required.
Before entering into any financing arrangement under §46A-1-18, the Board of Water and Natural Resources shall be satisfied by opinion of the attorney general, by an examination of relevant charters, resolutions, minutes, and other documents, or by other sufficient means that the person or public entity receiving such interim financing has the authority and power to construct that project, borrow these funds, and enter into the financing arrangement. The board shall also be so satisfied that all procedures, resolutions, and other things necessary to exercise such authority and power have been properly performed.
Source: SL 1979, ch 301, §12; SDCL Supp, §46-17A-23.2.