50-6A-50. Joint fund created for joint board.For the purpose of providing the joint board with moneys for the necessary expenditures in carrying out the provisions of §§50-6A-42 to 50-6A-51, inclusive, a joint fund shall be created and maintained, into which shall be deposited the share of each of the constituent public agencies as provided by the joint agreement. Any federal, state, or other grants, contributions, or loans, and the revenues obtained from the joint ownership, control, and operation of any airport or airport facility under the jurisdiction of the joint board shall be paid into the joint fund. Disbursements from the fund shall be made by order of the board, subject to the limitations prescribed in §§50-6A-46 to 50-6A-51, inclusive. Source: SL 1976, ch 303, §29; SL 2018, ch 269, §23.
South Dakota Legal Code