Section 408.Sec. 15 - NEW1. The Bank shall, in the financing agreement, set the term of a loan or other financial assistance from the Bank, which must be set according to the methodology approved by the Board of Directors and must not exceed 35 years. A qualified borrower may elect for the loan or other financial assistance to have a maturity date that is sooner than the maximum life of the loan or other financial assistance which may be approved pursuant to the methodology approved by the Board of Directors.2. The interest rate of a loan or other financial assistance from the Bank must be set according to the rate-setting methodology established by the Board of Directors pursuant to section 16 of this regulation.Nev. Admin. Code § 408.Sec. 15
Added to NAC by Dep't of Transportation by R017-22A, eff. 4/19/2022