The agency shall determine the manner in which subordinated loans are to be repaid. Potential methods of repayment may include, but not be limited to:
- (a) An interest payment of 3 percent to be made from the positive cash flows of the project before payment to any other equity investor or mortgage loan holder is made.
- (b) Repayment upon conversion or the term of the bond, whichever is less, to the state, including an interest payment of 3 percent.