The South Dakota Conservancy District is preparing to enter the market this month with $40 million in state revolving fund program bonds to finance loans for local wastewater and drinking water projects. Proceeds will also go toward matching state funds for the SRF program.

The state match bonds are secured by loan interest repayments from borrowers and interest earnings, while the loan bonds are secured by loan principal repayments from borrowers and the interest and earnings not needed for debt service.

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