South Dakota Administer Funds from the State Cement Plant Sale (2001)
Text of measure
The South Dakota Legislature has authorized the sale of the State Cement Plant for approximately $252 million dollars.
If adopted, Constitutional Amendment A places the net proceeds from this sale into a trust fund. The South Dakota Investment Council is required to invest the trust fund. Twelve million dollars from the trust fund will be annually transferred into the state general fund. The principal of the trust fund may not be expended except for this $12 million annual transfer. If there are additional earnings on the trust fund after the $12 million annual transfer, the Legislature is required to make a limited annual appropriation to support education.
If Constitutional Amendment A is not adopted, the net proceeds of the Cement Plant sale will be deposited in the state general fund.
A vote "Yes" will place the net proceeds from the sale of the State Cement Plant into a trust fund, provide for investment of the fund, and authorize annual transfers of money from the trust fund.
A "No" vote will result in the net proceeds from the sale of the State Cement Plant being deposited into the state general fund.
- South Dakota 2001 special constitutional amendment election
- South Dakota 2001 constitutional amendment election results