Does the Board of Regents have policies on debt and investments?
Gerald Lundgren, J.P. Morgan Securities Inc. A. SDCL ch 4-5 governs the custody and investment of state funds. http://legis.state.sd.us/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-5. SDCL ยง 13-51A-30 provides a somewhat different rule for bond proceeds: Notwithstanding the provisions of any other law, no moneys derived from the sale of bonds issued under the provisions of this chapter, or pledged or assigned to or in trust for the benefit of the holder or holders thereof, shall be required to be paid into the state treasury but shall be deposited by the treasurer or other fiscal officer of the board in such bank or banks or trust company or trust companies as may be designated by the board, and all deposits of such moneys shall, if required by the board, be secured by obligations of the United States of America, of a market value equal at all times to the amount of such moneys on deposit. Such moneys shall be disbursed as may be directed by the board and in accordance with the
