33 Miss. Code. R. 1-3.6.1
All DWSELF loan repayments are subject to the following requirements:
3. 6.1.1 Interest on amounts paid to the loan recipient will commence on the original construction contract completion date.
3. 6.1.2 The amount of interest accrued between the original construction contract completion date and the initiation of the repayment process will be added to the final allowable project costs to determine the principal amount to be repaid by the loan recipient.
3. 6.1.3 The repayment period will be from the time of transmittal of the final loan repayment agreement to the loan recipient to the date five (5) years after project completion, or sooner if so requested by the loan recipient.
3. 6.1.4 Repayments are to be made by counties on a semi-annual basis through homestead exemption annual tax loss reimbursement withholdings, by municipalities on a monthly basis through state sales tax withholdings if adequate to provide such repayments, and by all other loan recipients through submission of monthly payments in accordance with state law, and must commence no sooner than 90 days after and no later than one year after final construction observation by the Department staff.
3. 6.1.5 The repayment interest rate and the frequency of interest compounding will be established in the DWSELF loan agreement and repayment agreement.
33 Miss. Code. R. 1-3.6.1