46A-1-13.4. Authorization of Mni Wiconi rural system--Loans--Accrual of interest. Pursuant to §§ 46A-1-11 to 46A-1-13, inclusive, construction of a two hundred sixty-three million two hundred forty-one thousand dollar ($263,241,000) Mni Wiconi Rural Water System as generally described in the report "Mni Wiconi Rural Water Supply Project Final Engineering Report" dated May 21, 1993, is hereby authorized for the purpose of providing safe and adequate municipal, rural, and industrial water supplies as well as promoting benefits to fish and wildlife and the natural environment of South Dakota on the Pine Ridge Indian Reservation, the Rosebud Indian Reservation, the Lower Brule Indian Reservation and in the counties of Stanley, Haakon, Lyman, Jones, Jackson, Mellette, and Pennington.
The Legislature finds that it is in the best interest of the Mni Wiconi Rural Water System to provide the nonfederal matching requirements as enumerated in P.L. 100-516 as amended on January 1, 1995, through the State Water Resources Management System revolving loan program. Therefore, all grants authorized for expenditure out of the South Dakota Water and Environment for the Mni Wiconi Rural Water System since January 1, 1989, shall convert to loans.
The Board of Water and Natural Resources may provide loans under the State Water Resources Management System revolving loan program in amounts not to exceed a total of twelve million nine hundred one thousand eight hundred dollars ($12,901,800) to the Mni Wiconi Rural Water System to provide the nonfederal matching requirements for the West River Rural Water System component and the Lyman-Jones Rural Water System component as enumerated in P.L. 100-516 as amended on January 1, 1995. No disbursements may be made under the loans authorized by this section unless funds are appropriated by the Legislature in conformance with § 46A-1-61.
Notwithstanding the provisions of § 46A-1-66 no interest may accrue until the Board of Water and Natural Resources certifies the completion of the construction of the project as authorized. The initial loan repayment shall be due and payable one year following the certification of construction completion. Loan terms and conditions shall be set by the Board of Water and Natural Resources.
The loans authorized by this section may be increased or decreased by such amounts as may be justified by reason of ordinary fluctuations in development costs incurred after October 1, 1992, as indicated by engineering costs indices applicable for the type of construction involved.
Source: SL 1992, ch 254, § 13; SL 1995, ch 251, § 28.
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