South Dakota Administrative Rules
Title 24 - EDUCATION
Article 24:59 - Postsecondary Technical Institutes
Chapter 24:59:04 - Postsecondary Technical Institute Lease Purchase Agreements
Section 24:59:04:05 - Maturity term of bonds issued
Universal Citation: SD Admin Rules 24:59:04:05
Current through Register Vol. 51, page 43, September 23, 2024
When considering approval of new bonds for lease purchase agreement, the Board of Technical Education may set a target maturity term of thirty years. The amortization cannot exceed one hundred and twenty percent (120%) of the weighted average useful life of the asset.
General Authority: SDCL 1-16A-94, 13-39A-24.
Law Implemented: SDCL 1-16A-39, 1-16A-43, 1-16A-93, 13-39A-24, 13-39A-25, 13-39A-26.
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