§ 22-3-1903 - Loans. - Arkansas Statutes

22-3-1903. Loans.

(a) Under the Sustainable Building Design Program for State Agencies, the Arkansas Building Authority may authorize money to be loaned from the Sustainable Building Design Revolving Loan Fund to a state agency, board, or commission.

(b) A loan made under subsection (a) of this section shall be:

(1) For a renovation of state-owned property; and

(2) In an amount that exceeds two hundred fifty thousand dollars ($250,000).

(c) (1) The authority shall credit an origination fee to the Arkansas Building Authority Maintenance Fund for expenses associated with the administration of the program.

(2) The term for repayment of the loan may not exceed ten (10) years.