Chapter 1-16E of the South Dakota Codified Laws
The VAFA’s mission is to provide lower cost financing, which is achieved by acting as a conduit to issue federally tax exempt bonds. The VAFA is a seven member board appointed by the Governor. The board usually meets the last Thursday of the month. The VAFA was formed in 1996 to issue tax exempt bonds for Beginning Farmers, Agribusinesses and Manure Management Facilities. The VAFA also administers a direct loan program for small, ag processing businesses and the Value Added Sub which provides funding for agricultural development studies.
Governor's Office of Economic Development
Seven members appointed by the Governor. No more than four members may be of the same political
party. Initial appointments: four members to four-year terms; three members to two-year terms.
Term of Appointment:
Terms shall expire on October 30 on the third year of appointment. No term limit
Frequency of Meetings:
Are Members Allowed to Call into Meetings: