Section 11-11-151 - Terms, provisions and form of loans or other financing to be approved.
11-11-151. Terms, provisions and form of loans or other financing to be approved. Each mortgage loan made or other financing provided by the authority shall contain such terms and provisions and be in such form as approved by the authority. The authority may participate with other mortgage lenders in the making of mortgage loans to finance multifamily residential housing projects and day-care facilities, either on a parity or a subordinated basis. With respect to multifamily residential housing projects and day-care facilities, the authority may also assist the development of such housing projects and day-care facilities by investing as a limited partner or shareholder in the housing sponsor upon such terms and conditions as the authority determines.
Source: SL 1973, ch 180, § 19 (6); SDCL Supp, § 28-19-129; SL 1995, ch 80, § 21.