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Code · South Dakota · Title 5 · Chapter 5-14

5-14-22. Sale or lease of real property for public purpose or industrial development--Authorization of lease--Legislature to approve sales.

87 words·~1 min read·/sd/title-5/chapter-5-14/5-14-22·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The state may lease or sell on a negotiated basis and convey any of its real property to a municipality or county, or to a nonprofit local industrial development corporation as defined by § 5-14-23 and located therein, to be used by such grantee for an authorized public purpose or industrial development purpose as enumerated in § 9-54-1 . The lease shall be authorized on the terms and in the manner provided by the Legislature. Each sale is subject to approval by an act of the Legislature.
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