Kan. Admin. Regs. § 28-16-114

Current through Register Vol. 43, No. 24, June 13, 2024

Section 28-16-114 - Repayment of loans

(a) All principal and interest shall be repaid in accordance with the terms and conditions of the executed loan agreement. Principal and interest payments shall begin no later than one year following the completion of the project. Repayment of the loan shall not exceed a 30-year repayment period as agreed upon in the loan agreement. For the purposes of this regulation, project completion shall mean the initiation of operation or capability to initiate operation.

(b) Prepayment of principal in whole or part may be made in accordance with the terms and conditions of the executed loan agreement.

Authorized by K.S.A. 65-3323; implementing K.S.A. 65-3322 and K.S.A. 2023 Supp. 65-3326; effective May 29, 1989; amended by Kansas Register Volume 43, No. 15; effective 4/26/2024.