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.
S.D. Codified Laws § 5-14-22
Sale or lease of real property for public purpose or industrial development--Authorization of lease--Legislature to approve sales
Applied in 1 court decision — leading case South Dakota Farm Bureau, Inc. v. Hazeltine (2002)
Most recently applied in South Dakota Farm Bureau, Inc. v. Hazeltine (May 2002)
Source: SL 1976, ch 63, § 1; SL 1977, ch 48, § 1; SL 2011, ch 2, § 46.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.