<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.sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0 { 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.sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd2835392-b9b4-4b7e-96b7-ced18fea28db000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000003 { 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="sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0"><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=20:09:26:16"><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000000">20:09:26:16</span></a><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000001">.  Maturity and interest rate of housing infrastructure project loan.</span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> </span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">The maturity of a </span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">housing infrastructure project </span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">loan may not be more than ten years from the date of loan closing, with payments amortized over not more than twenty-five years. The authority shall establish the standard interest rate for loans from time-to-time and publish the rate on the authority s website. The interest rate may not exceed the applicable federal rate published by the Internal Revenue Service pursuant to 26 U.S.C. §</span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> </span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">1274(d)</span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> (May 11, 2023)</span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">, as of the date of the board s approval of an application</span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">.</span></p><p dir="ltr" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0"><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28db000002"> </span></p><p dir="ltr" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0"><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">    </span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000001">Source:</span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> </span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">49 SDR 125, effective July 3, 2023; 52 SDR 10, effective August 4, 2025</span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">.</span></p><p dir="ltr" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0"><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">    </span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000001">General Authority:</span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=11-15-6"><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000003">11-15-6</span></a><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">.</span></p><p dir="ltr" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0"><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">    </span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000001">Law Implemented:</span><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=11-15-1"><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000003">11-15-1</span></a><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=11-15-5"><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0-000003">11-15-5</span></a><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">, inclusive</span><span class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbC0">.</span></p><p dir="ltr" class="sd2835392-b9b4-4b7e-96b7-ced18fea28dbP0"><span xml:space="preserve" class="sd2835392-b9b4-4b7e-96b7-ced18fea28db000002"> </span></p></div></body></html>