<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.s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0 { 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.s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s798a0e77-39a6-4cee-9d89-41d68c0e1b21000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000003 { 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="s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0"><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=68:02:01:36"><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000000">68:02:01:36</span></a><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000001">.  Loan amounts.</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> Unless waived by </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">an</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> affirmative vote of two-thirds of the members of the board present and voting, a loan made pursuant to this chapter may not exceed the original principal amount of </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">three million dollars</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">. Unless waived by </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">an</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> affirmative vote of two-thirds of the members of the board present and voting, a loan made pursuant to this chapter may not exceed </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">forty-five</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> percent of the total project cost.</span></p><p dir="ltr" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0"><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21000002"> </span></p><p dir="ltr" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0"><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">    </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000001">Source:</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> 34 SDR 68, effective September 13, 2007</span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">; 52 SDR 49, effective November 17, 2025</span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">.</span></p><p dir="ltr" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0"><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">    </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000001">General Authority:</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16G-5"><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000003">1-16G-5</span></a><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16G-8"><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000003">1-16G-8</span></a><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">(10).</span></p><p dir="ltr" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0"><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">    </span><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000001">Law Implemented:</span><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-16G-5"><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0-000003">1-16G-5</span></a><span class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21C0">.</span></p><p dir="ltr" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21P0"><span xml:space="preserve" class="s798a0e77-39a6-4cee-9d89-41d68c0e1b21000002"> </span></p></div></body></html>