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.
Source: 12 SDR 117, effective January 19, 1986; 12 SDR 128, 12 SDR 154, effective July 1, 1986; 17 SDR 141, effective March 25, 1991.
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3 , 38-6-8.