Municipal Advisor Disclosure

The South Dakota Housing Development Authority (“SDHDA”) has retained Caine Mitter & Associates Incorporated (“Caine Mitter”) as an independent registered municipal advisor (“IRMA”) (as that term is used in SEC Rule 15B), and will rely on Caine Mitter, to provide advice with respect to the issuance of municipal securities and municipal financial products. SDHDA understands that Caine Mitter is registered as a municipal advisor with the Securities and Exchange Commission (the “SEC”); Caine Mitter’s IRMA documentation can be obtained from the SEC’s website. By publicly posting this disclosure, SDHDA intends that market participants may use this information for purposes of possible exemptions to the SEC municipal advisor rule.

Any proposals or other communications should be addressed to SDHDA’s Director of Finance and Assistant Treasurer, Todd Hight, at 3060 East Elizabeth Street, P. O. Box 1237, Pierre, South Dakota 57501-1237; at (605) 773-3181; or at If a proposal will be seriously considered by SDHDA, then SDHDA will share the document with its municipal advisor. Please note that aside from regulatory mandated correspondence between a market participant and a municipal advisor, a market participant should not speak directly with or send documents directly to the municipal advisor unless specifically directed by SDHDA.