South Dakota Statutes
§ 46A-1-69 — Suspension of annual installment due on loan for irrigation project.
Upon application to the Board of Water and Natural Resources by a party to the loan agreement, the board may suspend payment of any annual installment due on a loan made for the purpose of constructing an irrigation project when the board finds that because the prices of the crops being irrigated in that year have been lower than the costs of producing those crops, the borrower will suffer undue financial hardship. In making such determination, the board shall consider the annual installment due and a reasonable return to the farmer as costs of production and shall further consider the effect previous years' prices should have had on the borrower's current financial condition. Interest shall not accrue on the loan over the period for which repayment is suspended, and the term of the loan s
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South Dakota § 46A-1-69 (Suspension of annual installment due on loan for irrigation project.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1983, ch 315, § 11; SDCL Supp, § 46-17A-54.6.
Nearby Sections
15
§ 46A-1-1
Legislative findings and policy.§ 46A-1-100
Definition of terms.§ 46A-1-102
Disbursement and administration of money from subfunds--Rules--Application of provisions.§ 46A-1-103
Promulgation of rules by board--Content.§ 46A-1-13
Presentation of cost data to Governor and Legislature--Requests for financing authorization.§ 46A-1-13.10
Lewis and Clark Rural Water System authorized.§ 46A-1-13.11
Southern Black Hills Water System authorized.§ 46A-1-13.12
Belle Fourche irrigation upgrade project authorized.