{"data":{"id":"us-sd/sdcl-9-54-12","jurisdiction":"us-sd","citation":"SDCL § 9-54-12","heading":"Compliance with federal requirements for tax exemption.","body":"Notwithstanding any provision under the laws of the State of South Dakota, a municipality in order to accomplish the purposes provided in this section and chapter 6-8B may perform all acts necessary to comply with the requirements of § 103 of the Internal Revenue Code of 1954, as amended, and any regulation promulgated pursuant to § 103 to insure that all interest from bonds issued under this chapter is tax exempt.\nAll hearings or acts necessary to comply with § 103(k) of the Internal Revenue Code of 1954, as amended, and any regulations promulgated pursuant to § 103(k) are exempt from the requirements and procedures of chapter 1-26.\nThe Governor is the approving representative for the state for the purpose of complying with the applicable provisions of § 103(k) of the Internal Revenue Code of 1954, as amended, and any regulation promulgated pursuant to § 103(k) necessary to insure that all interest from bonds issued is tax exempt.","path":["TITLE 9. MUNICIPAL GOVERNMENT","CHAPTER 9-54. ECONOMIC DEVELOPMENT PROJECTS"],"source_url":"https://sdlegislature.gov/Statutes/9-54-12","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:56Z","sha256":"8515d025e3c6a0f9cc38b26def04f660846459ae306b12969b0ac4fdef624ece","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-9-54-11","next":"us-sd/sdcl-9-55-1"},"notice":"GroundRules: Original legal text. Not legal advice."}