HRS §206E-112
Loan terms must cover program costs and bond payments
This section says that loans made under the reserved housing loan programs must have interest rates, fees, and other terms high enough to cover the costs of running the program and to pay back the money borrowed through revenue bonds when it is due.
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The statute, as written — Reserved housing loan programs; self supporting
The interest rate, fees, charges, premiums, and other terms of the loans made under the reserved housing loan programs shall be at least sufficient to pay the cost of administering and maintaining the portion of the specific reserved housing loan programs for which the revenue bonds have been issued, and to assure payment of the principal of and interest on the revenue bonds as they become due.
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