If the governing body decides to lease any municipally owned property to any private person for a term exceeding one hundred twenty days and for an amount exceeding two thousand five hundred dollars annual value, the municipality must adopt a resolution of intent to enter into the lease, and the resolution must fix a time and place for public hearing on the adoption of the lease resolution. Notice of the hearing on the adoption of the lease resolution must be published in the official newspaper once, at least ten days prior to the hearing. Following the hearing, the governing body may proceed to authorize the lease upon the terms and conditions it determines.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.