Section 3.102.130. Loan terms.

Latest version.

	(a)  A loan committee shall establish the term of a loan and repayment schedule within the limitations set by this chapter.  
	(b)  A loan under this chapter shall be for a term of not less than eight years and may not exceed a term of 10 years unless extended by a loan modification approved under 3 AAC 102.160. The term of a loan will be based on the useful life of the asset being purchased or to be constructed with the NMTC financing, the size of the loan, and the needs of the applicant.  
	(c)  The authority may request that a sinking fund be funded with amortizing payments on a regular basis.

Authorities

44.88.085;44.88.750;44.88.770

Notes

Authority
 AS 44.88.085  
AS 44.88.750  
AS 44.88.770  
Editor's note: Even though 3 AAC 102.130 was adopted and effective 3/29/2013, it was not published until Register 207, October 2013.  
History Eff. 3/29/2013, Register 207

References

3.102.130

                    
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