N.D. Admin. Code 33.1-35-01-18

Current through Supplement No. 394, October, 2024

Section 33.1-35-01-18 - Interest rate determination

The interest rate on a loan will be determined by the department with consultation from the financial agent and must be based on the combined costs related to the total financial state revolving fund loan package. The interest rates on individual loans may vary; however, the rate will not exceed the interest rate generally available for a comparable financing at the time the rate is established.

N.D. Admin Code 33.1-35-01-18

Adopted by Administrative Rules Supplement 370, October 2018, effective 1/1/2019.

General Authority: NDCC 61-28.2-01; S.L. 2017, ch. 199, § 1

Law Implemented: NDCC 61-28.2-01; S.L. 2017, ch. 199, § 70