S.D. Admin. R. 68:02:01:38
Current through Register Vol. 51, page 56, November 4, 2024
Loan proceeds may be used for any portion of the total project costs. Except as otherwise provided in this chapter, loan proceeds may not be used for costs associated with the preliminary design stage. Loan proceeds may not be used to finance or refinance the cost of the preliminary design stage. Except for the refinancing of third party interim loans incurred for the project, loan proceeds may not be used to pay existing debt.
S.D. Admin. R. 68:02:01:38
General Authority: SDCL 1-16G-5, 1-16G-8(9).
Law Implemented: SDCL 1-16G-5, 1-16G-8(9).