Section 9-21-18.1 - Municipality authorized to enter lease-purchase agreement to lease real orpersonal property. - South-dakota Statutes

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9-21-18.1. Municipality authorized to enter lease-purchase agreement to lease real or personal property. The provisions of § 9-21-18 or any other provision of law notwithstanding, any municipality may enter into a lease-purchase agreement for a term of years, not exceeding ten, for the purchase or lease by the municipality of real or personal property. Any lease-purchase agreement for a term exceeding one year requires the approval of more than sixty percent of the members-elect of the governing body of the municipality.

Source: SL 1995, ch 37, § 2.

State Codes and Statutes

Statutes > South-dakota > Title-9 > Chapter-21 > Statute-9-21-18-1

9-21-18.1. Municipality authorized to enter lease-purchase agreement to lease real or personal property. The provisions of § 9-21-18 or any other provision of law notwithstanding, any municipality may enter into a lease-purchase agreement for a term of years, not exceeding ten, for the purchase or lease by the municipality of real or personal property. Any lease-purchase agreement for a term exceeding one year requires the approval of more than sixty percent of the members-elect of the governing body of the municipality.

Source: SL 1995, ch 37, § 2.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-9 > Chapter-21 > Statute-9-21-18-1

9-21-18.1. Municipality authorized to enter lease-purchase agreement to lease real or personal property. The provisions of § 9-21-18 or any other provision of law notwithstanding, any municipality may enter into a lease-purchase agreement for a term of years, not exceeding ten, for the purchase or lease by the municipality of real or personal property. Any lease-purchase agreement for a term exceeding one year requires the approval of more than sixty percent of the members-elect of the governing body of the municipality.

Source: SL 1995, ch 37, § 2.