Section 11-15-4 - Housing infrastructure loans--Limitation--Administrative expenses

11-15-4. Housing infrastructure loans--Limitation--Administrative expenses.The authority may make loans from the South Dakota housing infrastructure fund, created in §11-15-2, for housing infrastructure projects. The principal amount of a loan may not exceed one-third of the total cost of the housing infrastructure project. The authority may use up to one percent of the principal amount of a loan to offset the authority's expenses in administering the loan. Source: SL 2023, ch 41, §11, eff. Feb. 1, 2023.