260.120. Interest rate on loans.
89 words·~1 min read·
/mo/chapter-260/260-120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
260.120. Interest rate on loans. — 1. The authority may set, from time to time, the interest rates at which it shall make loans, keeping its interest rates at the lowest level consistent with its cost of operation and its responsibilities to the holders of its bonds, bond anticipation notes, and other responsibilities.
2. The ratio of loan to project cost and the amortization period of loans made by the authority shall be determined in accordance with regulations promulgated by the authority.
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(L. 1982 S.B. 506)
Effective 4-30-82