State Codes and Statutes

Statutes > South-dakota > Title-5 > Chapter-17 > Statute-5-17-8

5-17-8. Acquisition of real property authorized--Construction and operation of plant--Eminent domain proceedings--Acquisition and operation of property outside state--Commission to vote stock and to serve as directors of any company acquired--Approval of property held in name of state. The Cement Plant Commission may acquire by purchase, or by appropriation through the exercise of the right of eminent domain in the manner provided by law, real property at such locations and in such tracts as in the opinion of the commission is deemed expedient and advisable. The commission may purchase, locate, establish, construct, operate, and maintain a cement plant or plants at such points inside or outside this state as in its wisdom it deems most feasible, convenient, and accessible and for the best interests of the state and its citizens. If the commission deems it necessary to acquire real estate by appropriation through the exercise of the right of eminent domain, it shall enter an order to that effect on the journal of its proceedings and furnish a copy of the journal to the attorney general who shall institute condemnation proceedings in the name of the state in the manner provided by law, and the powers granted by this section are not limited by §§ 5-17-9 and 5-17-10.
The commission may purchase or acquire property, plants, distribution and transportation facilities and equipment, terminals, concrete products businesses or companies and related facilities and equipment, at points inside or outside the State of South Dakota, to operate those facilities, businesses or companies according to the laws of the respective jurisdictions and to hold title to such plants, facilities, terminals, businesses or companies in the name of the State of South Dakota. In the event of the acquisition of a corporation or unincorporated business for this purpose, the commission may vote its stock and shall appoint or elect its members as directors of that company, to serve as directors of that company concurrently with their appointed terms as commissioners and shall receive no compensation or additional fee therefore, except actual expenses incurred. Any such property or instrumentality now held in the name of the state is hereby approved.

Source: SDC 1939, § 55.3304; SL 1951, ch 266; SL 1988, ch 55, § 3; SL 1996, ch 41, § 1.