Section 13-51-2 - Educational facilities fund continued--Purposes--Appropriation requirements andrestrictions.
13-51-2. Educational facilities fund continued--Purposes--Appropriation requirements and restrictions. There is continued an educational facilities fund in the state treasury from which on and after July 1, 1984, the Board of Regents may make expenditures, relating only to institutions of higher education under its jurisdiction, to:
(1) Make lease payments to the South Dakota Building Authority for projects authorized to be paid out of that fund by the Legislature;
(2) Maintain and repair existing facilities in amounts as may from time to time be authorized by the Legislature;
(3) Make rent payments from higher education facilities funds, appropriated through the general appropriation act for such purposes, to other private or public parties for educational facilities in accordance with § 13-51-1 as necessary to the proper and efficient delivery of instruction; and
(4) Build and equip new facilities as may from time to time be authorized by the Legislature.
No funding may be provided in any year for subdivision (3) or (4) of this section until the level of annual appropriations reaches three million dollars for subdivision (2) of this section. Authorizations for new lease payments, new construction, reconstruction, and renovation are restricted to and shall not exceed the amount of higher education facilities funds in excess of the sum of existing lease payments to the South Dakota Building Authority plus three million dollars for maintenance and repair.
Source: SL 1965, ch 68; SL 1968, ch 60, § 1; SL 1977, ch 142, § 1; SL 1979, ch 130; SL 1980, ch 39, § 3; SL 1980, ch 146, § 4; SL 1981, ch 156, § 1; SL 1983, ch 136, § 1; SL 1987, ch 147; SL 1989, ch 158; SL 1991, ch 158, § 1; SL 1998, ch 102, § 1; SL 1999, ch 97, § 2.