South Dakota § 11-15-8 - School district adjoining federal military installation--Loan--Constructing or expanding school--Terms--Approval--Exemptions.
Full text of South Dakota South Dakota Codified Laws § 11-15-8 — School district adjoining federal military installation--Loan--Constructing or expanding school--Terms--Approval--Exemptions., with citation guidance and answers to common questions.
§ 11-15-8. School district adjoining federal military installation--Loan--Constructing or expanding school--Terms--Approval--Exemptions.
In addition to any other loan or grant authorized in § 11-15-2, the authority may make a loan from the South Dakota housing infrastructure fund, as created in § 11-15-2, to a school district adjoining a federal military installation for the purpose of constructing or expanding a school building, as defined in § 34-44-2. The authority must provide the loan to the district at an interest rate of zero percent and may not require collateral from the district. The loan may not exceed an aggregate of fifteen million dollars.
The terms of the loan must require that the payments be based on a straight and level amortization of twenty years and be made annually over a term of twenty years, with the first payment due one year from the date of the funding of the loan.
Any loan issued pursuant to this section must be approved by the authority at a public meeting held pursuant to chapter 1-25 and issued prior to June 30, 2029.
Thirty percent of any loan issued pursuant to this section must be made from moneys that are otherwise available for municipalities having a population of fifty thousand or more, pursuant to subdivision 11-15-3(1), and seventy percent from moneys that are otherwise available in all other areas of the state, pursuant to subdivision 11-15-3(2).
Any loan issued pursuant to this section is exempt from the provisions of chapter 6-8B and §§ 13-19-2 to 13-19-6, inclusive.
All moneys received by the authority in repayment of a loan issued 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.
Source: SL 2025, ch 56, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 11-15-8
What does South Dakota Codified Laws § 11-15-8 cover?
Section 11-15-8 ("School district adjoining federal military installation--Loan--Constructing or expanding school--Terms--Approval--Exemptions.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 11-15-8?
A common citation format is "South Dakota Codified Laws § 11-15-8" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 11-15-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.