Section 23007 - Loan Amount, Length of Term, and Interest Rate (California Code of Regulations)

§ 23007. Loan Amount, Length of Term, and Interest Rate

(a) The Board shall determine the loan amount for each loan not to exceed $500,000.

(b) The Board shall determine the term of each loan not to exceed 10 years.

(c) The Board shall determine the interest rate set for each loan. The interest rate may be set at zero (0) percent per year.

Note: Authority cited: Sections 40502 and 48206, Public Resources Code. Reference: Section 48204(d)-(f), Public Resources Code.

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