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2022 Nebraska Revised Statutes
Chapter 71 - Public Health and Welfare
71-5325 - Loan terms.
Universal Citation: NE Code § 71-5325 (2022)
71-5325. Loan terms.
Loan terms shall include, but not be limited to, the following:
(1) The term of the loan shall not exceed thirty years, except for systems serving disadvantaged communities which term may not exceed forty years;
(2) The interest rate shall be at or below market interest rates;
(3) The annual principal and interest payment shall commence not later than one year after completion of any project; and
(4) The loan recipient shall immediately repay any loan when a grant has been received which covers costs provided for by such loan.
Source
- Laws 1997, LB 517, § 14;
- Laws 2019, LB307, § 3.
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