S.D. Admin. R. 68:02:02:20
Loan proceeds may be used for salaries, consultant contracts, supplies, and necessary services for studies, and for other purposes not listed in this section as may be individually approved by the board. Loan proceeds may not be used to finance or refinance existing debt; for the purchase of land, site development or improvement; for the construction, purchase, or installation of equipment; or for other fees, services, and costs related to the construction of the project. No more than once per fiscal year, the board may commission a study and pay the entire cost of the study from VASF if it determines that doing so may avoid duplication of effort or will serve an unmet need. The cost to the VASF of a board-commissioned study may not exceed $100,000.
S.D. Admin. R. 68:02:02:20
General Authority: SDCL 1-16G-5, 1-16G-8(9), 1-16G-28(3)(4).
Law Implemented: SDCL 1-16G-5, 1-16G-8(9), 1-16G-25 to 1-16G-27, inclusive.