12:03:03:03Criteria for commission review of loan application.
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
The commission shall review a loan application from a district and shall base its approval upon the following criteria: (1) Whether the proposed use of the funds is for a purpose provided in SDCL 38-8-53; (2) The availability of moneys in the special revenue fund; (3) The requested amount of funds and the term of the loan; (4) The financial status of the district, as determined following a review by the commission or its agent; and (5) The adequacy of the proposed security, if any, for the loan.
Source: 11 SDR 59, effective October 29, 1984; 12 SDR 128, 12 SDR 154, effective July 1, 1986; 49 SDR 48, effective November 23, 2022.
General Authority
- SDCL 38-8-53 ↗Amended by HB1210 (2023) — modify the use of conservation district special revenue fund monies and to provi
Law Implemented
- SDCL 38-8-53 ↗Amended by HB1210 (2023) — modify the use of conservation district special revenue fund monies and to provi