74:05:10:12. Terms and conditions of awards. The board shall establish in the funding agreement provided for in § 74:05:10:15 the terms and conditions of awards made through the solid waste management program.
Source: 17 SDR 7, effective July 22, 1990; 21 SDR 97, effective November 28, 1994; 23 SDR 12, effective July 30, 1996; 40 SDR 14, effective July 29, 2013.
General Authority: SDCL 46A-1-67, 46A-1-84.
Law Implemented: SDCL 46A-1-83, 46A-1-84.
74:05:10:12.01. Loan interest rates, parity position, and revenue requirements. The board shall establish interest rates for the solid waste management program. The board may adjust the interest rates at any meeting if the proposed action is included on the agenda posted for the meeting. A loan must be prior to or at parity with other loans having the same security unless the board approves otherwise. The applicant must show evidence that revenues are sufficient to support the proposed project considered for funding.
Source: 23 SDR 12, effective July 30, 1996; 28 SDR 95, effective December 19, 2001.
General Authority: SDCL 46A-1-67, 46A-1-84.
Law Implemented: SDCL 46A-1-84.
74:05:10:12.02. Interest rates. The board shall set the interest rates based upon:
(1) Current market rates;
(2) Current rate of alternative federal or state programs; and
(3) Current demand for program funds.
Source: 23 SDR 12, effective July 30, 1996; 28 SDR 95, effective December 19, 2001; 40 SDR 14, effective July 29, 2013.
General Authority: SDCL 46A-1-67, 46A-1-84.
Law Implemented: SDCL 46A-1-84.
