SDCL § 11-15-9: Major metropolitan airport loan--Purpose--Maximum amount--Public hearing--Repayment.

In addition to any other loan authorized in § 11-15-2, the authority may provide loans from the South Dakota housing infrastructure fund, created in § 11-15-2, to the owner or operator of an airport with scheduled air service located in this state and in a metropolitan statistical area with an estimated annual resident population of at least one hundred twenty-five thousand, determined as of July 1, 2024, by the United States Census Bureau.

Loans provided under this section:

(1) Are for the purpose of improving or maintaining airport infrastructure;

(2) May not exceed fifteen million dollars per recipient; and

(3) Are subject to the terms set forth in § 11-15-10.

The authority shall consider, and authorize or deny, any loan requested pursuant to this section at a public meeting held pursuant to chapter 1-25.

All moneys received by the authority in repayment of a loan made pursuant to this section must be deposited in the South Dakota housing infrastructure fund and used for making new loans pursuant to § 11-15-2.