The maximum loan amount that can be borrowed by a district is $100,000. The loan amount may not exceed eighty percent of the purchase value of the equipment.

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; 45 SDR 31, effective September 13, 2018.

General Authority: SDCL 38-6-8.1.

Law Implemented: SDCL 38-6-3 , 38-6-8.

Prior versions effective: 1991-03-25.