{"data":{"id":"us-sd/sdcl-1-16b-40","jurisdiction":"us-sd","citation":"SDCL § 1-16B-40","heading":"Application by local agency for loan--Contents.","body":"Prior to loaning of any funds to an enterprise for a development project, the authority shall receive from the enterprise a loan application in the form adopted by the authority which shall contain, without being limited to, the following provisions:\n(1) A general description of the development project and a general description of the enterprise for which the development project has been or is to be established;\n(2) A legal description of all real estate necessary for the development project;\n(3) Plans and other documents to show the type, structure and general character of the development project;\n(4) A general description of the number, types and skills of employees to be employed;\n(5) The cost or estimates of cost of establishing the development project;\n(6) A statement of the value of any property which the enterprise applied or intends to apply to the establishment of the development project;\n(7) A statement of cash funds previously applied, or at present held by the enterprise which are to be applied to the establishment of the development project;\n(8) Evidence of the arrangement made by the enterprise for the financing of all costs of the development project;\n(9) Evidence that the development project probably will not cause the removal of a plant or facility from one area of the state to another area of the state;\n(10) Any additional evidence pertinent to a determination of the probable success of the development project at the selected location, and evidence that a substantial increase in employment and payrolls will probably result from the granting of the loans;\n(11) Evidence that the enterprise does currently or will possess the ability to obtain the revenues which will be used to repay a loan to finance the development project.","path":["TITLE 1. STATE AFFAIRS AND GOVERNMENT","CHAPTER 1-16B. ECONOMIC DEVELOPMENT FINANCE AUTHORITY"],"source_url":"https://sdlegislature.gov/Statutes/1-16B-40","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:56Z","sha256":"e0e58e87806759647f845089939d70c1dce0ad246a57697323ea05273632980d","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-1-16b-39","next":"us-sd/sdcl-1-16b-41"},"notice":"GroundRules: Original legal text. Not legal advice."}