Section 80.23 - Loan terms(a) The interest rate on a secured loan will be not less than the rate on United States Treasury securities of a similar maturity to the maturity of the secured loan on the date of the execution of the loan agreement, except as provided in paragraph (b) of this section and 23 U.S.C. chapter 6.(b) If, on the date of the execution of the loan agreement, the United States Treasury does not post the rate of securities of a similar maturity to the maturity of the secured loan, the interest rate on any secured loan with both a final maturity date that is more than 35 years after the date of substantial completion of the project, and a loan term that is more than 40 years, will be equal to not less than the rate on thirty-to-forty year Treasury securities plus an annual interest rate adjustment. The annual interest rate adjustment will be, cumulatively:(i) 1.4 basis points for each year of the loan term after year 40 to, but not including, year 51;(ii) 0.4 basis points for each year of the loan term from year 51 to, but not including, year 71; and(iii) 0.2 basis points for each year of the loan term from year 71 to year 100.(c) For purposes of this section, "loan term" means the period beginning on the date of the execution of the loan agreement and ending on the final maturity date.