<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.s30355af3-18f7-4c29-a977-449d66a3da02P0 { 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.s30355af3-18f7-4c29-a977-449d66a3da02C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s30355af3-18f7-4c29-a977-449d66a3da02C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s30355af3-18f7-4c29-a977-449d66a3da02C0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s30355af3-18f7-4c29-a977-449d66a3da02000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s30355af3-18f7-4c29-a977-449d66a3da02C0-000003 { 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="s30355af3-18f7-4c29-a977-449d66a3da02P0"><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:05"><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000000">70:05:03:05</span></a><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000001">.  Permissible uses of loan proceeds.</span><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0"> Railroad trust fund loans may be used for </span><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0">the </span><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0">acquisition, development, and improvement of </span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0">railroad infrastructure</span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0">.</span></p><p dir="ltr" class="s30355af3-18f7-4c29-a977-449d66a3da02P0"><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02000002"> </span></p><p dir="ltr" class="s30355af3-18f7-4c29-a977-449d66a3da02P0"><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0">    </span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000001">Source:</span><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0"> 19 SDR 107, effective January 24, 1993</span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0">; 49 SDR 47, effective November 21, 2022</span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0">.</span></p><p dir="ltr" class="s30355af3-18f7-4c29-a977-449d66a3da02P0"><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0">    </span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000001">General Authority:</span><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000003">49-16C-3</span></a><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0">.</span></p><p dir="ltr" class="s30355af3-18f7-4c29-a977-449d66a3da02P0"><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0">    </span><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000001">Law Implemented:</span><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0-000003">49-16C-3</span></a><span class="s30355af3-18f7-4c29-a977-449d66a3da02C0">.</span></p><p dir="ltr" class="s30355af3-18f7-4c29-a977-449d66a3da02P0"><span xml:space="preserve" class="s30355af3-18f7-4c29-a977-449d66a3da02000002"> </span></p></div></body></html>