Terms defined in SDCL 1-16B-1 have the same meaning when used in this article. In addition, terms used in this article mean:
- (1) "Bond purchaser," any individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity, that purchases an authority bond under the agribusiness bonding program;
- (2) "Commissioner," the commissioner of the Governor's Office of Economic Development;
- (3) "Eligible applicant." a for-profit or nonprofit agricultural or business enterprise;
- (4) "Program," the agribusiness bonding program;
- (5) "Project," a description of the intended use of the loan proceeds; and
- (6) "Qualified purpose," any land, buildings or other improvements, or any real or personal property, debt service reserve fund, capitalized interest, and any cost relating to the foregoing.
Source: 23 SDR 161, effective April 7, 1997 ; 52 SDR 49, effective November 17, 2025 .
General Authority: SDCL 1-16B-70 .
Law Implemented: SDCL 1-16B-1 , 1-16B-56 , 1-16B-57 .
Prior versions effective: 1997-04-07.