71-5325 Loan terms. - Nebraska Statutes

71-5325. Loan terms.Loan terms shall include, but not be limited to, the following:(1) The term of the loan shall not exceed twenty years, except for systems serving disadvantaged communities which term may not exceed thirty 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. SourceLaws 1997, LB 517, § 14.