South Dakota Administrative Rules
Title 70 - Department of Transportation
Article 70:05 - State Railroad Board
Chapter 70:05:03 - Railroad trust fund loans
Section 70:05:03:12 - Maturity and interest rate
Universal Citation: SD Admin Rules 70:05:03:12
Current through Register Vol. 50, page 114, March 25, 2024
The maturity of the loan shall be set by the board, and interest may be either fixed or variable over the term of the loan.
The board shall set the interest rates. The board may consider the following in setting the interest rate:
(1) State and national market interest rates;
(2) State and national economic conditions;
(3) The solvency and balance of the fund; and
(4) Other economic or business information determined by the board to be relevant.
General Authority: SDCL 49-16C-3, 49-16C-4.
Law Implemented: SDCL 49-16C-3, 49-16C-4.
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