Statutes, codes, and regulations
South Dakota Administrative Rules
Title 24 - EDUCATIONArticle 24:59 - Postsecondary Technical Institutes
Chapter 24:59:04 - Postsecondary Technical Institute Lease Purchase Agreements
Section 24:59:04:05 - Maturity term of bonds issued

S.D. Admin. R. 24:59:04:05

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Current through Register Vol. 51, page 67, December 16, 2024
Section 24:59:04:05 - Maturity term of bonds issued

When considering approval of new bonds for lease purchase agreement, the Board of Technical Education may set a target maturity term of thirty years. The amortization cannot exceed one hundred and twenty percent (120%) of the weighted average useful life of the asset.

S.D. Admin. R. 24:59:04:05

Transferred from 24:10:46:05, 44 SDR 184, effective 6/25/2018

General Authority: SDCL 1-16A-94, 13-39A-24.

Law Implemented: SDCL 1-16A-39, 1-16A-43, 1-16A-93, 13-39A-24, 13-39A-25, 13-39A-26.