S.D. Admin. R. 12:03:03:03

Current through Register Vol. 51, page 46, September 30, 2024

Section 12:03:03:03 - Criteria for commission review of loan application

The commission shall review a loan application from a district and shall base its approval upon the following criteria:

(1) The proposed use of the funds;

(2) The consistency of the proposed use of the funds with SDCL chapter 38-8 and with promotion of sound conservation practices;

(3) The availability of moneys in the special revenue fund;

(4) The requested amount of funds and the term of the loan;

(5) The financial status of the district, as determined following a review by the commission or its agent;

(6) The adequacy of the proposed security, if any, for the loan.

S.D. Admin. R. 12:03:03:03

11 SDR 59, effective 10/29/1984; 12 SDR 128, 12 SDR 154, effective 7/1/1986; 49 SDR 049, effective 11/23/2022

General Authority: SDCL 38-8-53, 38-8-53.1.

Law Implemented: SDCL 38-8-53, 38-8-53.1.