50-7-16. Interest on amounts to be reimbursed.
The commission shall charge a governmental agency simple interest at the Category A rate of interest established in §54-3-16 on the amount of money subject to reimbursement under §50-7-15 from the date of the expenditure to the date of payment.
Source: SL 1966, ch 4; SL 1992, ch 60, §2; SL 1997, ch 16, §16; SL 1997, ch 269, §1; SL 2014, ch 222, §55.
Structure South Dakota Codified Laws
Chapter 07 - Publicly Owned Airports
Section 50-7-1 - Municipalities includes organized townships and counties.
Section 50-7-6 - Acquisition of land for county airport.
Section 50-7-7 - Statement of intention to establish airport--Protest by voters--Submission to vote.
Section 50-7-9 - Annual appropriations for airports--Taxation.
Section 50-7-10 - Airport sponsors--Powers--Federal grants--Agreements.
Section 50-7-11 - Airport contracts subject to contract laws.
Section 50-7-13 - Administration of existing airports--Creation of airport board.
Section 50-7-14 - Charges for use of airport--Approval of governing body.
Section 50-7-15 - Cooperative agreements--Airport improvements--Reimbursement.
Section 50-7-16 - Interest on amounts to be reimbursed.
Section 50-7-18 - Indemnification agreements--Lands subject to mineral rights or oil and gas leases.