- (1) The board of investments may loan funds to the petroleum tank release compensation board to cover temporary cash shortfalls. The total of all loans may not exceed the greater of $15 million or 80% of the fees that the office of budget and program planning projects will be collected under 75-11-314 during the next 3 fiscal years. A loan must be amortized, based on projected fee revenue, over a period of not more than 10 years.
- (2) The board shall establish the interest rate on the loan, considering the security and the term of the loan.
History: En. Sec. 1, Ch. 115, L. 1997.