<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.s63d945b4-f9cf-4af3-ac07-5b96066afc98P0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: center; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s63d945b4-f9cf-4af3-ac07-5b96066afc98C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s63d945b4-f9cf-4af3-ac07-5b96066afc98000001 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002 { 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.s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004 { 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="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0"><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0">CHAPTER </span><a href="https://sdlegislature.gov/Rules?Rule=70:05:03"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000000">70:05:03</span></a></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0"><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98000001"> </span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0">RAILROAD TRUST FUND LOANS</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0"><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98000001"> </span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0"><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98000001"> </span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">Section</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:01"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:01</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Definitions.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:02"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:02</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Eligibility requirements.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:03"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:03</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Application requirements.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:04"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:04</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Equity contribution</span><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">, Repealed</span><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:05"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:05</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Permissible uses of loan proceeds.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:06"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:06</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Factors for board action.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:07"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:07</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        </span><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">Loan agreement</span><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003"> and time restrictions.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:08"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:08</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Loan </span><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">security</span><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:09"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:09</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Borrower reporting requirements.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:10"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:10</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Inspection of the borrower by the board and retention of records.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:11"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:11</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Additional notification requirements.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:12"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:12</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Maturity and interest rate.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:13"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:13</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Review of financial status.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:14"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:14</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Default on loan agreement.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:15"><span class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000004">70:05:03:15</span></a><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98C0-000003">        Delegation of administrative functions.</span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98000001"> </span></p><p dir="ltr" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98P0-000002"><span xml:space="preserve" class="s63d945b4-f9cf-4af3-ac07-5b96066afc98000001"> </span></p></div></body></html>