- (a) Commitment periods may be set for a period of up to five years. The minimum interest rate reduction for multi-year commitments will be established for the five-year period based on the interest rate reduction prescribed in the IUP for the first year's commitment.
- (b) This option is only available for projects as described in the IUP.
- (c) Any entity receiving a multi-year commitment must annually re-confirm its anticipated funding commitments established with the initial commitment.
Source Note:The provisions of this §371.36 adopted to be effective July 4, 2016, 41 TexReg 4844; amended to be effective June 10, 2020, 45 TexReg 3863.