1. (a) The Board may offer loans for the following terms:

   1. (1) up to ten years for the planning, acquisition, and design of an eligible project;
   2. (2) up to 20 years for the construction of an eligible project;
   3. (3) up to 30 years for the construction of an eligible project by a Disadvantaged Community;
2. (b) Notwithstanding the terms in subsection (a) of this section, the term of a loan may not exceed the design life of an eligible project.

Source Note:The provisions of this §371.16 adopted to be effective August 4, 2010, 35 TexReg 6680; amended to be effective July 30, 2012, 37 TexReg 5602.