Section 11-11-165 - Costs allowable in multifamily units and day-care facilities--Audit andcertification. - South Dakota Statutes

11-11-165. Costs allowable in multifamily units and day-care facilities--Audit and certification. The authority shall have the power, in the supervision of housing sponsors of multifamily residential housing units and day-care facilities and their real and personal property, to prescribe regulations specifying the categories of cost which shall be allowable in the construction or rehabilitation of a housing development. The authority shall require any housing sponsor to certify the actual housing development costs upon completion of the housing development, subject to audit and determination by the authority. Notwithstanding the provisions of this section, the authority may accept, in lieu of any certification of housing development costs as provided herein, such other assurances of the said housing development costs, in any form or manner whatsoever, as will enable the authority to determine with reasonable accuracy the amount of said housing development costs.

Source: SL 1973, ch 180, § 18 (9); SDCL Supp, § 28-19-143; SL 1995, ch 80, § 33.