Project costs include the aggregate amount of costs authorized by the authority to be incurred for a project and financed or to be financed by a loan, but exclude any costs of issuance and any amounts deposited or to be deposited in a loan reserve account or capitalized interest account. Project costs may include cost of issuance if the authority does not create a cost of issuance account in the series supplemental resolution and the payment of interest due on a loan that corresponds to the payment of interest due on the series of bonds that financed the loan, accruing before the completion of the project.

Source: 13 SDR 134, effective March 31, 1987 ; 52 SDR 49, effective November 17, 2025 .

General Authority: SDCL 1-16B-70 .

Law Implemented: SDCL 1-16B-14 (7), 1-16B-15 , 1-16B-18 .

Prior versions effective: 1987-03-31.