{"data":{"id":"us-sd/sdcl-1-16b-46","jurisdiction":"us-sd","citation":"SDCL § 1-16B-46","heading":"Terms of loan to local agency--Subordination to other loans.","body":"Any loan of the authority shall be for the period of time and shall bear interest at the rate determined by the authority and shall be secured by a mortgage on the development project for which the loan was made. The mortgage may be subordinate only to a mortgage held by the independent and responsible sources which financed 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-46","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:56Z","sha256":"9a403b19fef734fbedd2f5cf13624c242bb5195b214d2681fb8ab3d365545a24","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-1-16b-45","next":"us-sd/sdcl-1-16b-47"},"notice":"GroundRules: Original legal text. Not legal advice."}