§ 360.604

Ill. Admin. Code tit. 47, § 360.604

Amortization

Effective Jan 24, 200125 Ill. Reg. 2416AUTHORITY: Implementing Sections 4 and 7(e) of the Illinois Affordable Housing Act [310 ILCS 65/4 and 7(e)] and authorized by Sections 7.19 and 7.25 of the Illinois Housing Development Act [20 ILCS 3805/7.19 and 7.25].ILLINOIS HOUSING DEVELOPMENT AUTHORITY

The maximum amortization period of a Loan to be made by the Authority under this Program shall not exceed 40 years and may be shorter at the sole discretion of the Authority.

(Source: Amended at 25 Ill. Reg. 2416, effective January 24, 2001)