<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.sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0 { 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.sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000003 { 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="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0"><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=68:01:01:04"><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000000">68:01:01:04</span></a><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000001">.  Project costs inclusions and exclusions.</span><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0"> Project costs include the aggregate amount of costs authorized by the authority to be incurred for a project and financed or to be financed by a loan, but exclude any costs of issuance and any amounts deposited or to be deposited in a loan reserve account or capitalized interest account. Project costs may include cost of issuance if the authority does not create a cost of issuance account in the series supplemental resolution and the payment of interest due on a loan that corresponds to the payment of interest due on the series of bonds </span><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">that</span><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0"> financed the loan, accruing before the completion of the project.</span></p><p dir="ltr" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0"><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513000002"> </span></p><p dir="ltr" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0"><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">    </span><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000001">Source:</span><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0"> 13 SDR 134, effective March 31, 1987</span><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">; 52 SDR 49, effective November 17, 2025</span><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">.</span></p><p dir="ltr" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0"><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">    </span><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000001">General Authority:</span><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-70"><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000003">1-16B-70</span></a><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">.</span></p><p dir="ltr" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0"><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">    </span><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000001">Law Implemented:</span><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-14"><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000003">1-16B-14</span></a><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">(7), </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-15"><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000003">1-16B-15</span></a><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16B-18"><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0-000003">1-16B-18</span></a><span class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513C0">.</span></p><p dir="ltr" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513P0"><span xml:space="preserve" class="sfcdd21bb-f0fc-47cf-94ac-4b3ef7795513000002"> </span></p></div></body></html>