<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.s11a282e7-d0fc-45f3-a166-d72c574c57a4P0 { 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.s11a282e7-d0fc-45f3-a166-d72c574c57a4C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s11a282e7-d0fc-45f3-a166-d72c574c57a4000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000003 { 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="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:06"><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000000">70:05:03:06</span></a><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000001">.  Factors for board action.</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> When making a decision on an application, the board </span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">shall</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> consider the following:</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4000002"> </span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (1)  Number of primary jobs created;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (2)  Amount of the loan requested;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (3)  Net economic effect on the area and state;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (4)  Transportation needs of the area served by the project;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (5)  Support of the public entities of the community and area;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (6)  The amount of the </span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">financial</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> contribution by the applicant or others to the project;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (7)  The effect of the project on the environment, health, and safety of the people in the area and state;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (8)  Compatibility with the economic development plans of the area and state;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (9)  The potential success of the project;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (10)  The character, experience, management record, and financial capacity of the rail operator</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> and any other benefitted entity</span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (11)  The capacity of the applicant to repay the loan. In determining the capacity of the applicant, the board may consider the following:</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4000002"> </span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">        (a)  The amount of the loan;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">        (b)  The economic feasibility of the project;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">        (c)  The ability of the applicant to service the debt;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">        (d)  The financial status of the project, applicant, and rail operator;</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> and</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">        (e)  The satisfaction of engineering, legal, and environmental regulations;</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4000002"> </span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (12)  The total capitalization of the project, including any capitalization subordinated to the trust fund loan; and</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    (13)  The terms and conditions of the loan.</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4000002"> </span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    </span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000001">Source:</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> 19 SDR 107, effective January 24, 1993</span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">; 49 SDR 47, effective November 21, 2022</span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">.</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    </span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000001">General Authority:</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000003">49-16C-3</span></a><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">.</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">    </span><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000001">Law Implemented:</span><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0-000003">49-16C-3</span></a><span class="s11a282e7-d0fc-45f3-a166-d72c574c57a4C0">.</span></p><p dir="ltr" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4P0"><span xml:space="preserve" class="s11a282e7-d0fc-45f3-a166-d72c574c57a4000002"> </span></p></div></body></html>