<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.s0ef87d63-b739-4c1d-b871-f315d62db948P0 { 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.s0ef87d63-b739-4c1d-b871-f315d62db948C0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s0ef87d63-b739-4c1d-b871-f315d62db948C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s0ef87d63-b739-4c1d-b871-f315d62db948C0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s0ef87d63-b739-4c1d-b871-f315d62db948000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s0ef87d63-b739-4c1d-b871-f315d62db948C0-000003 { 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="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=12:03:03:03"><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000000">12:03:03:03</span></a><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000001">.  Criteria for commission review of loan application.</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> The commission shall review a loan application from a district and shall base its approval upon the following criteria:</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948000002"> </span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    (1)  </span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">Whether </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">the proposed use of the funds</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> is for a purpose provided in SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=38-8-53"><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000003">38-8-53</span></a><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">;</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    (</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">2</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">)  The availability of </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">moneys</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> in the </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">special revenue</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> fund;</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    (</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">3</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">)  The requested </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">amount of funds and the term</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> of the loan;</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    (</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">4</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">)  The financial status of the district</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">,</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> as determined </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">following a review</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> by the commission or its agent;</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> and</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    (</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">5</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">)  The adequacy of the proposed security, if any, for the loan.</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948000002"> </span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000001">Source:</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> 11 SDR 59, effective October 29, 1984; 12 SDR 128, 12 SDR 154, effective July 1, 1986</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">; 49 SDR 48, effective November 23, 2022</span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">.</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000001">General Authority:</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=38-8-53"><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000003">38-8-53</span></a><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">.</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">    </span><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000001">Law Implemented:</span><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=38-8-53"><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0-000003">38-8-53</span></a><span class="s0ef87d63-b739-4c1d-b871-f315d62db948C0">.</span></p><p dir="ltr" class="s0ef87d63-b739-4c1d-b871-f315d62db948P0"><span xml:space="preserve" class="s0ef87d63-b739-4c1d-b871-f315d62db948000002"> </span></p></div></body></html>