S.D. Admin. R. 70:05:03:06

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

Section 70:05:03:06 - Factors for board action

When making a decision on an application, the board may consider the following in addition to other factors necessary to make a loan decision:

(1) Number of primary jobs created;

(2) Amount of the loan requested;

(3) Net economic effect on the area and state;

(4) Transportation needs of the area served by the project;

(5) Support of the public entities of the community and area;

(6) The amount of the financial contribution by the applicant or others to the project;

(7) The effect of the project on the environment, health, and safety of the people in the area and state;

(8) Compatibility with the economic development plans of the area and state;

(9) The potential success of the project;

(10) The character, experience, management record, and financial capacity of the rail operator and any other benefitted entity;

(11) The capacity of the applicant to repay the loan. In determining the capacity of the applicant, the board may consider the following:

(a) The amount of the loan;

(b) The economic feasibility of the project;

(c) The ability of the applicant to service the debt;

(d) The financial status of the project, applicant, and rail operator;

(e) The satisfaction of engineering, legal, and environmental regulations;

(12) The total capitalization of the project, including any capitalization subordinated to the trust fund loan; and

(13) The terms and conditions of the loan.

S.D. Admin. R. 70:05:03:06

19 SDR 107, effective 1/24/1993; 49 SDR 047, effective 11/21/2022

General Authority: SDCL 49-16C-3.

Law Implemented: SDCL 49-16C-3.