<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s956628d8-a2c9-44ff-8a91-ac3d43ba7dbc000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0"><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=12:22:01:13"><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000000">12:22:01:13</span></a><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000001">.  Right to audit.</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> The authority may audit the records of </span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">a</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> bond purchaser or </span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">the bond purchaser's</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> agents</span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">,</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> and the eligible applicant</span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">,</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> relating to any loan or bond governed by this chapter</span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">,</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> to ensure that bond proceeds were used for a qualified purpose.</span></p><p dir="ltr" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0"><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbc000002"> </span></p><p dir="ltr" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0"><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">    </span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000001">Source:</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> 23 SDR 161, effective April 7, 1997</span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">; 52 SDR 49, effective November 17, 2025</span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">.</span></p><p dir="ltr" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0"><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">    </span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000001">General Authority:</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-70"><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000003">1-16B-70</span></a><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">.</span></p><p dir="ltr" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0"><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">    </span><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000001">Law Implemented:</span><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-56"><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000003">1-16B-56</span></a><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-57"><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000003">1-16B-57</span></a><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-73"><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0-000003">1-16B-73</span></a><span class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcC0">.</span></p><p dir="ltr" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbcP0"><span xml:space="preserve" class="s956628d8-a2c9-44ff-8a91-ac3d43ba7dbc000002"> </span></p></div></body></html>