<html> <head> <title>Rule 12:21:01:15 Procedures following bond issuance.</title> <META NAME="Keywords" Content="Administrative Rules 12:21:01:15"> <META NAME="Description" Content="Administrative Rules 12:21:01:15 Procedures following bond issuance."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>12:21:01:15.&nbsp;&nbsp;Procedures following bond issuance.</b> No bond proceeds may be used for an unqualified purpose or by an unqualified user. Following disbursement of the bond proceeds, the authority may require the lender and the beginning farmer to certify to the authority that the proceeds were used by a qualified beginning farmer for a qualified purpose.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 22 SDR 97, effective January 22, 1996.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=1-16E-24">1-16E-24.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=1-16E-24">1-16E-24.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Cross-Reference:</b> Eligibility, &nbsp;12:21:01:07.</p> </div> </body> </html>