The board shall set the repayment period for each loan in the assistance agreement, which may not exceed five years for interim financing and 30 years in all other cases as permitted by the Act. The repayment period may not exceed the useful life of the project.

Source: 15 SDR 20, effective August 7, 1988; 28 SDR 4, effective July 22, 2001; 30 SDR 170, effective May 10, 2004; 33 SDR 106, effective December 26, 2006; 41 SDR 173, effective May 11, 2015.

General Authority: SDCL 46A-1-60.3.

Law Implemented: SDCL 46A-1-60.1 to 46A-1-60.3.

Prior versions effective: 2006-12-26.