S.D. Admin. R. 12:07:10:04

Current through Register Vol. 51, page 67, December 16, 2024

Section 12:07:10:04 - Application

A district may apply for a loan from the office by submitting an application to the commission. The forms shall be supplied by the office. The application form shall contain the following information:

(1) The name and address of the district and the district's secretary;

(2) The amount of the loan request;

(3) The term of the loan request;

(4) A statement of when and how the loan proceeds will be used;

(5) A proposed repayment schedule;

(6) A current financial statement of the district;

(7) A projected financial statement of the district over the term of the loan requested;

(8) A certified copy of the minutes of the district's meeting at which the loan request was authorized;

(9) The source and policy limits of liability and property damage insurance to be carried on the equipment purchased; and

(10) The date of the application.

S.D. Admin. R. 12:07:10:04

12 SDR 117, effective 1/19/1986; 12 SDR 128, 12 SDR 154, effective 7/1/1986; 17 SDR 141, effective 3/25/1991.

General Authority: SDCL 38-6-8.1.

Law Implemented: SDCL 38-6-3, 38-6-8.