13-39A-19. Successor to Board of Education Standards on agreements. The board shall be the lawful successor to the Board of Education Standards with respect to all rights, privileges, obligations and duties of the Board of Education Standards under and with respect to:

(1) The lease purchase agreement dated as of August 1, 1988, between the health and educational facilities authority and the Board of Education Standards, as heretofore amended or supplemented;

(2) The four sublease agreements dated as of August 1, 1988, between the Board of Education Standards and, respectively, Mitchell School District 17-2, Rapid City Area School District No. 51-4, Sioux Falls School District 49-5, and Watertown School District No. 14-4, each as heretofore amended or supplemented;

(3) The first supplement to general pledge and escrow agreement between the treasurer, the Board of Education Standards, the health and educational facilities authority and the First National Bank in Sioux Falls, dated as of August 1, 1988, as amended and supplemented;

(4) The fourth supplement to facility fee tuition collection and deposit agreement dated June 1, 1999, among the treasurer, the Board of Education Standards, the First National Bank in Sioux Falls and the school districts specified in subsection (2) or their successors, as such agreement has been heretofore amended or supplemented from time to time; and

(5) All other agreements related to the foregoing and with respect to career and technical education program revenue bonds issued from time to time by the health and educational facilities authority to finance property used by LEAs for any postsecondary technical institute.

The board shall succeed to and assume all of the obligations of the Board of Education Standards with respect to all such agreements and is bound by all of the obligations and covenants of the Board of Education Standards in connection therewith, which obligations and covenants are ratified and confirmed.

Source: SL 2017, ch 81, § 19.