60-11-1212. Loan details. The terms of any loan made pursuant to 60-11-1211 shall be specified by the department and shall be such as to assure sufficient payments to enable the department to meet its obligations on the bonds. Any terms required under an agreement with the bondholder must be included in the loan agreement. The department may require the borrower to secure the loan with the project or other property of the borrower.

     History: En. Sec. 12, Ch. 565, L. 1979; amd. Sec. 13, Ch. 486, L. 1981.